- The Polygon token price breaks above 55-EMA during intraday.
- The 24-hour trading volume is at $1,138 billion.
- MATIC/BTC pair is trading neutral by -0.1% at 0.00002453 BTC.
On the daily chart of Polygon token, Moving Average Exponential (EMA), consisting of 8,13,21 and 55-EMA. Acts as reliable support in the token price movement. Investors may observe the price moves above all the lines, so until the price resides above the multiple EMA’s, it will assure an uptrend in MATIC.
Trading volume (132.047 M) is close to the 20-day moving average (132.267 M). The volume is high, so the cost is close to the supply zone. Investors may also notice that the volume bar on the chart increases. This indicates that unusual volatility is common on the following trading days.
Polygon Token Price Trend is Close Towards Entering The Supply Zone
Polygon token daily technical chart and price trend show an uptrend. Based on the price action, the supply zone is located at 1.80 USDT. On the other hand, the demand zone to look for is 1.0 to 1.10 USDT. Therefore, the chart shows a bullish harami candlestick pattern during the day.
The RSI indicator gave a signal (bullish) with 60, projecting a buy sign in the currency. Investors can observe an inclined slope from 34 to 60 on the index. It can rise in future trading sessions.
The MACD indicator gives (bullish) cross over the signal line on October 15, demonstrating a buy signal in the token. Additionally, Investors can see huge green bars on the Histogram index.
Conclusion
Polygon price today is $1.51 with a 24-hour exchanging volume of $1,122,867,741. MATIC cost is up 1.0% as of now. It has a circling supply of 6.7 Billion MATIC tokens and a complete stock of 10 Billion.
The RSI and MACD both point to a buy signal. The traders have prompted high volume. In fact, the cost is halfway towards the supply zone. Likewise, the general market outlook is that this pattern will continue to rise over the next few trading days.
Resistance Level: $1.80
Support Level: $1.0 – $1.10