Polygon Returns As It Remains Above Its $0.20 Low

May 17, 2025 at 12:42 // News
Author
Coin Idol
Buyers have not been able to sustain the positive momentum

The price of Polygon's Ecosystem Token (POL) has been at the bottom of the chart since its rejection at $0.276.

Polygon Ecosystem Token price long-term prediction: bearish

Buyers have not been able to sustain the positive momentum above the $0.28 level. A break above the $0.28 barrier will push the altcoin to a high of $0.35.

The cryptocurrency value has slipped below the 21-day SMA support as buyers failed to sustain strong momentum above the $0.28 high. If the altcoin falls back below the 50-day SMA support, the price will drop to $0.16.

In the meantime, POL has fallen and stalled above the $0.20 support. The altcoin will perform after the 21-day and 50-day SMA hurdles are breached.

Polygon Ecosystem Token indicator analysis

The price bars are located between the 21-day and 50-day moving averages. If Polygon breaks above the 21-day SMA, the price will start an uptrend. If the bears break the 50-day SMA, the cryptocurrency will fall to the bottom of the chart. Polygons remain horizontal, indicating a sideways trend.

Technical Indicators 

Resistance Levels: $1.20, $1.30, $1.40

Support Levels: $0.60, $0.40, $0.30

POLUSD_(Daily Chart) - May 17.jpg

What is the next move for the Polygon Ecosystem Token?

Polyggon has fallen below the moving average lines on the 4-hour chart. The altcoin is likely to fall further as long as it remains below the moving average lines. Polygon is currently making a series of lower highs and lower lows. The altcoin is declining and approaching the previous low of $0.21.

POLUSD_(4-Hour Chart) -May 17.jpg

Coinidol.com reported on May 8, that after the rise, the altcoin will retest the resistance level at $0.26. POL was  trading at $0.216. 

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.

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