Polygon price analysis

Polygon 

MATIC



$0.6394

 surged above the $0.60 resistance on Oct. 22, indicating accumulation at lower levels.MATIC/USDT daily chart. Source: TradingView

The 20-day EMA ($0.56) has started to turn up and the RSI is in the overbought territory, signaling a potential trend change. If buyers maintain the price above $0.60, it will suggest the start of a new up-move. The MATIC/USDT pair could rise to $0.70 and then to $0.80.

The important level to watch on the downside is $0.60. A break below this level will suggest that the rally above $0.60 may have been a fake-out. That could trap the aggressive bulls, resulting in a drop to the moving averages.

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