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RSI looks bearish for Polygon MATIC
BINANCE:MATICUSDT
Polygon has been trading within a narrow range between $0.91 and $0.82, indicating indecision among traders regarding the next directional move. The downward slope of the moving averages and an RSI below 39 indicate the prevailing control of the bears.
Sellers will aim to push the price below $0.82 to resume the downtrend, potentially leading the MATIC/USDT pair to retest the crucial support at $0.69. However, buyers are expected to vigorously defend this level.
To initiate a recovery, the bulls would need to drive the price above the resistance zone of $0.91 to $0.94. Such a move could trigger a strong relief rally towards the resistance line.
Polygon has been trading within a narrow range between $0.91 and $0.82, indicating indecision among traders regarding the next directional move. The downward slope of the moving averages and an RSI below 39 indicate the prevailing control of the bears.
Sellers will aim to push the price below $0.82 to resume the downtrend, potentially leading the MATIC/USDT pair to retest the crucial support at $0.69. However, buyers are expected to vigorously defend this level.
To initiate a recovery, the bulls would need to drive the price above the resistance zone of $0.91 to $0.94. Such a move could trigger a strong relief rally towards the resistance line.
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