Polygon Ecosystem Token (POL) Price Prediction: What's the Next Move?

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

The price of Polygon's Ecosystem Token (POL) has shown signs of bullish momentum, trading above the moving average lines but encountering resistance at $0.46.

Long-term POL price analysis: bullish

After the last drop on November 14, the price of Polygon's Ecosystem Token (POL) has remained bullish, trading above the moving average lines. On November 14, as reported by Coinidol, the bears broke below the 50-day SMA but the bulls bought the dips. From $0.34, the altcoin has risen 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. At the moment, POL is trading at $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.