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Polygon price analysis
Polygon's MATIC closed above the 20-day EMA ($0.54) on September 19, but the bulls failed to gain momentum. This suggests that demand is drying up at higher levels.
The bears pulled the price back below the 20-day EMA on September 21. Sellers will attempt to sink the pair below the strong support at $0.49. If they can achieve this, MATIC/USDT parity may continue its downward trend. Downside support is $0.45.
Alternatively, if the price recovers strongly from the $0.50 support, this will indicate that lower levels are attracting buyers. The bulls will need to hold and sustain the price above $0.55 to signal the beginning of a stronger recovery.
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