Published 21 mins ago
The Polygon coin chart shows the formation of the Flag pattern in the daily time frame chart. In theory, the ongoing correction is responsible for stabilizing the aggressive buying from the previous rally. Furthermore, a bullish breakout from the pattern’s resistance trendline triggers this continuation pattern and may resume the prevailing recovery.
- The polygon coin price continues to face selling pressure at the resistance trendline.
- A breakout above the resistance trendline will invalidate the downside theory.
- The intraday trading volume in the MATIC is $748.3 Million, indicating a 24.5% gain.
The declining trend continues in the Polygon market price within a flag, accounting for a drop of 31.5%. Additionally, the price drop breached the crucial support level of $0.75, leading to a dump of $0.69.
However, the price obtained significant support at the pattern’s support trendline and revert the coin 20%. Furthermore, the recovery rally challenges the wedge patterns resistance trendline increasing the possibility of a bullish breakout.
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