Polygon Targets Resistance as TD Sequential Shows Buy Signal

Table of Contents

• Polygon’s Price Struggles at Resistance
• TD Sequential Signals Reversal Opportunity
• Key Support Levels: The $0.30 Zone

Polygon’s Price Struggles at Resistance

Polygon’s price action has been largely bearish since its peak in 2021. The coin has formed a series of lower highs, indicating a descending trend. The descending trendline, acting as a key resistance level, has repeatedly rejected upward movements. Despite multiple attempts, MATIC has struggled to break above this trendline.

Additionally, historical resistance levels, marked by dotted black lines on the chart, highlight previous areas where the price faced challenges. These resistance zones are crucial in determining MATIC’s next potential move. The recent interaction with the $0.30 support zone, however, may signal a critical moment for Polygon, as the price shows signs of recovery from this level.

TD Sequential Signals Reversal Opportunity

The TD Sequential indicator has flashed a red “9” count, signaling potential trend exhaustion. This is a common signal that suggests the current bearish trend may be reaching its end. Historically, similar signals have led to reversals or continued price movements, depending on broader market conditions. The latest price action suggests the possibility of a short-term bounce as the market tests key resistance levels.

If Polygon breaks above the descending trendline, it could trigger a shift in market sentiment, potentially leading to a broader recovery. On the other hand, failure to maintain above the $0.30 support zone could result in a breakdown, pushing the price to lower levels.

Key Support Levels: The $0.30 Zone

The $0.30 zone has emerged as a critical support level for MATIC. The recent price action suggests that if MATIC can hold this support, it could fuel a recovery and potentially lead to higher price movements. However, if the price breaks down below this key support, further downside pressure could drive the price lower.

• Support at $0.30: A key level that MATIC must maintain to avoid further declines.
• Resistance at the descending trendline: The major obstacle preventing MATIC from breaking upward.
• TD Sequential red “9” count: A potential reversal signal that could trigger a bounce or a continuation of the trend.

As MATIC trades within a descending triangle pattern, this critical moment may define its short-term future. Analysts are closely monitoring the price to see if Polygon can break free from the bearish trend or if further downside is imminent. According to crypto analyst Ali_charts, MATIC’s ability to hold above the $0.30 support zone will be crucial in determining whether a recovery is possible.

The next few days will likely determine whether MATIC can sustain its recent gains and break through resistance, or whether the market will see further downward pressure. Investors should stay alert as the situation unfolds.