Polygon Cryptocurrency Forecast

Big movements in Polygon cryptocurrency price on Friday moving 12.36% between high and low
(Updated on Apr 19, 2024)

MATICUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Sunday, April 14, 2024, and so far it has risen 1.87%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Polygon cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.683 and $0.91. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely.

Support, Risk & Stop-loss for Polygon cryptocurrency

Polygon finds support from accumulated volume at $0.667 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.0766 between high and low, or 12.36%. For the last week, the cryptocurrency has had daily average volatility of 9.91%.

Polygon is oversold on RSI14 (20). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MATICUSD) For The Upcoming Trading Day Of Saturday 20th

For the upcoming trading day on Saturday, 20th we expect Polygon to open at $0.664, and during the day (based on 14 day Average True Range), to move between $0.604 and $0.749, which gives a possible trading interval of +/-$0.0726 (+/-10.73%) up or down from last closing price. If Polygon takes out the full calculated possible swing range there will be an estimated 21.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.667 (1.36%) than the resistance at $0.707 (4.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Polygon cryptocurrency A Buy?

The Polygon cryptocurrency holds several negative signals and despite the positive trend, we believe Polygon will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.

Current score: -2.892 Sell Candidate Unchanged

Predicted Opening Price for Polygon of Saturday, April 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.