Polygon (POL/MATIC) Price Update – Market Outlook & Trade Setup
Current Price: ~$0.247
Key Resistance: $0.25
Key Supports: $0.23 and $0.20
Market Analysis:
Polygon (formerly MATIC) has been consolidating tightly between the $0.23 and $0.25 range. It recently attempted a breakout towards ~$0.276 but failed to close above key resistance at $0.25, pulling back to current levels.
This $0.25 zone is a major psychological and technical resistance. A failure to sustain above it may increase bearish momentum, with a clear downside risk towards $0.23 and possibly $0.20 – a major long-term support.
However, if bulls manage to reclaim and close 2 consecutive daily candles above $0.25, a move towards $0.30 remains likely.
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Trade Setup:
Scenario 1: Bullish Breakout
Entry: On a confirmed daily close above $0.25
Target: $0.30
Stop-Loss: Below $0.245
Scenario 2: Bearish Breakdown
Entry: On 2 daily closes below $0.25
Target 1: $0.23
Target 2: $0.20
Stop-Loss: Above $0.255
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Summary:
We are at a crucial decision point. $0.25 is the key to unlock the next move — either a bullish continuation to $0.30 or a correction to $0.23 and potentially $0.20. Watch for daily candle closes to confirm direction.
