Polygon Price Prediction Today: MATICUSD reaches critical support level of $0750

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The MATIC price prediction shows that MATIC is currently moving towards the south and the coin may fall below the lower boundary of the channel

Polygon forecast statistics:
Current Polygon Price – $0.753
Polygon Market Cap – $6.9 billion
Polygon Circulating Supply – 8.73 Billion
Polygon Total Supply – 10 billion
Polygon Coinmarketcap Ranking – #10

MATIC/USD Market
Key Levels:
Resistance: $1.20, $1.30, $1.40
Support levels: $0.45, $0.35, $0.25

MATICUSD – DAILY CHART
MATIC/USD opened today at $0.77 and within hours the coin fell to $0.55. At the time of writing, Polygon was trading at $0.753, down 2.95% from its rebound level of $0.781. Currently, the daily chart shows that the technical indicator Relative Strength Index (14) is moving towards the oversold zone, which means the coin could be ready for more losses.

Polygon Price Prediction: Polygon could fall further
Looking at the daily chart, if the sellers push the Polygon price below $0.50, the next support is likely to be located below the lower boundary of the channel and further downside focus may be on $0.50. Moreover, if this support is breached, more support may be located at $0.45, $0.35, and $0.25 while resistance may be located at $1.20, $1.30, and $1.40.

Furthermore, technical indicators show that the Relative Strength Index (14) has moved below the 40 level. If the market manages to stay below this resistance level, the added bearish pressure could keep Polygon prices negative. The signal line could drop further and could be ready for another bearish crossover signal.

Compared to Bitcoin, traders can see that Polygon price may continue to fall at the time of writing. As the price falls, sellers may pose more threats to buyers to reach the support level of 4000 SAT, which is the nearest target. However, any further bearish action below the lower boundary of the channel may cause Polygon price to crash.

MATICBTC – DAILY CHART
Meanwhile, the continuation of the downtrend could hit the main support at 3800 SAT and then drop to 3500 SAT and below. Meanwhile, if buyers push the market above the 9-day and 21-day moving averages, the potential resistance at 6200 SAT and above could be reached. Therefore, the technical indicator Relative Strength Index (14) moved below the 30 level, indicating that sellers are likely to dominate the market

Check the latest Polygon price on CoinCodex

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