Polygon is cruising past the 1D MA200 on largely overbought 1D technicals (RSI = 82.582, MACD = 0.047, ADX = 72.673). We expect exhaustion to kick in near 0.87900 (Fibonacci 0.5 level) followed by a lengthy pullback to the 1D MA50. That will be the next buy opportunity, targeted at the R1 level and 0.786 Fibonacci (TP = 1.18950).
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Polygon / MATICUSD almost hit the Rising Support that goes back all the way to January 2021 and is now rebounding.
This is perfectly viewed on the 1week time frame where the price hit the 1week MA200.
As the 1day RSI is also rebounding, a crossing over the MA line, will confirm the bullish trend, like it did on July 4th 2022.
Buy and target the 1day MA100 on...
