It appears that the target for bulls could be to not only break this ceiling, but move to $0.072, which would see the token hit a three-month high.
One of the main obstacles preventing this is the relative strength index , which is currently tracking at 59.67, below resistance at 60.00. If and when price strength moves beyond this point, there will likely be more bulls reentering the market.Polygon which is currently the world’s tenth largest cryptocurrency, fell for a fifth straight day.This latest decline in price has pushed polygon to its lowest point since January 11, when it traded at $0.84.Looking at the chart, this spell of sell-offs has sent the RSI below 30.00, which is deep in oversold territory.
The last time price strength tracked this low was back in July 2022, which may give bulls optimism that a reversal could be soon approaching.Register your email here to get weekly price analysis updates sent to your inbox:
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