Polygon struggles below resistance, buyer efforts stalled

Polygon (MATIC) has for some time now, been absolutely unable to rise above the resistance level and is presently staring at the figure of $0.62, from $0.75. 

In spite of all its attempts, MATIC has totally remained unsuccessful in making the slightest comeback, as per the market observers. However, purchasers are pitching in generously to ensure its survival and raise to a somewhat significant level. 

The RSI, on its part, has been swinging well within the 50 mark, signifying a safer position where purchasing and selling are concerned. Yet, it has not been able to reach over 70, which is in tune with there not being visible a high swing about its pricing. 

As for the Ichimoku cloud, it speaks of a downward trend, with the prices going south. 

The MACD level, coming near the signal level signifies the non-existence of robust movement either upwards or downwards. 

This is a typical case wherein, despite all struggles, MATIC is just not being able to raise its head even slightly for now. The volume with regards to its off-shoot trading too has dropped by 53.14%.

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Considering it all, there still seems to be a certain amount of hope on the horizon.

Harsh Chauhan

Harsh Chauhan is an experienced crypto journalist and editor at CryptoNewsZ. He was formerly an editor at various industries and has written extensively about Crypto, Blockchain, Web3, NFT and AI. Harsh holds a Bachelor of Business Administration degree with a focus on Marketing and a certification from the Blockchain Foundation Program. Through his writings, he hold the pulse of rapidly evolving crypto landscape, delivering timely updates and thought-provoking analysis. His commitment to providing value to readers is evident in every piece of content produced.

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