Polygon's Ecosystem Token Is On The Rise And Is Targeting The High Of $0.60

The price of Polygon's Ecosystem Token (POL) is still trading above the moving average lines, but below the barrier at $0.47.

Long-term POL price prediction: bullish

The price of Polygon's Ecosystem Token (POL) has remained bullish above the moving average lines after the last decline on November 14. On November 14, as reported by Coinidol.com, the bears broke below the 50-day SMA but the bulls bought the dips. The altcoin has risen from $0.34 to $0.47. POL has started a trend of higher highs and higher lows. The uptrend encounters a first resistance at the high of $0.46. If the bulls break through the barrier at $0.46, the market will rise to a high of $0.60. 

If the bulls break through the barrier at $0.46, the market will rise to a high of $0.60. In the meantime, the altcoin is trading above the moving average lines but below the barrier at $0.46. POL is now worth $0.43.

POL indicator analysis

Polygon has resumed its uptrend with the price bars remaining above the moving average lines. Both charts show a bullish crossover between the moving average lines, suggesting that the cryptocurrency will continue to rise. The price action is characterized by small, indecisive candles known as doji.

Technical Indicators 

Resistance Levels: $1.20, $1.30, $1.40

Support Levels: $0.60, $0.40, $0.30

What is the next step for Polygon Ecosystem Token?

On the 4-hour chart, Polygon is in an uptrend, with the price having risen above the moving average lines. POL is trading above the moving average lines but below the resistance level of $0.46. The upward movement will start when the price breaks above the moving average lines.

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.