Polygon price began the monthly trade on a bearish note and continued to plunge heavily until the recent flip. The momentum appears strong with bullish volume slowly accumulating, therefore the next fortnight of the month may be notably bullish.
The price may aim at hitting INR 120 initially further to which INR 150 may be pretty easy to achieve. However, if the price quickly enters the correction phase, it may remain restricted below INR 140 to end the monthly trade.
MATIC price despite beginning the yearly trade on a bearish note is displaying huge bullish momentum at the moment. And hence after a brief accumulation, the price is expected to slice through the consolidation and range high. However, after reaching the pivot levels around INR 167 to INR 170, the asset may kick off a bull run again to surge beyond INR 220.
|Short-Term||The price may continue consolidating below INR 115 due to less volatility for some more time|
|Mid-Term||The buyers may get exhausted soon and eventually drag the MATIC price lower|
|Long-Term||Polygon is attempting to rebound but may do so only after a brief consolidation or a minor pullback|
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||55.16 / 43.24||Buy / Sell|
|MACD(12,26)||0.007 / -0.039||Buy / Sell|
|Average Directional Index(ADX)||23.46 / 38.74||Neutral / Sell|
|Bull-Bear Power||0.008 / -0.083||Buy / Sell|
|Moving Average(MA)-50||INR 106.54||INR 114.91|
|Moving Average(MA)-200||INR 109.59||INR 133.18|
|Resistance||INR 116||INR 133|
|Support||INR 108.26||INR 86|
|Average True Range(ATR)||0.0114||0.091|
The overall MATIC price trend is pretty bearish in the long term but notably bullish in the short term. And hence one can expect a short-term bounce towards the immediate highs around INR 120. Further, a huge retest or correction may hinder the price rally which may again slash the price close to INR 100.
Additional Read: MATIC vs TEZOS
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