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Polygon Rises Steadily Above $0.20
By: bitcoin ethereum news|2025/05/08 19:45:02
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The price recovery of Polygon’s Ecosystem Token (POL) has failed due to selling pressure as it peaked at $0.265. Polygon Ecosystem Token price long-term prediction: bearish On April 8, the altcoin rose above the $0.161 support and moving average lines, as Coinidol..com wrote before. However, the inability of buyers to sustain the bullish momentum above the $0.26 peak led to a decline. POL is now above the 50-day SMA support but below the 21-day SMA. If the bears break below the 50-day SMA, Polygon will drop to the lowest price of $0.161. On the other hand, if the cryptocurrency breaks through the 21-day SMA barrier, it will rise again. After the rise, the altcoin will retest the resistance level at $0.26. POL is currently trading at $0.216. Polygon Ecosystem Token indicator analysis The moving average lines are horizontal at the bottom of the chart. It is possible for the cryptocurrency to move in a range as the price bars are located between the moving average lines. Technical Indicators Resistance Levels: $1.20, $1.30, $1.40 Support Levels: $0.60, $0.40, $0.30 What is the next move for the Polygon Ecosystem Token? Polygon is on the rise. The price of cryptocurrencies needs to break above the 21-day SMA to return to its uptrend on the daily chart. The sideways movement will continue if the altcoin encounters rejection at the 21-day SMA and the 50-day SMA support. In the meantime, the POL price is steadily rising. Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds. Source: https://coinidol.com/polygon-rises-steadily/
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