As one of the important developments earlier this year, polygon team had made it easy for Polygon developers to create dApps and announced its partnership with Alchemy as a key factor behind the number of dApps on the network.
The number of decentralized applications (DApps) on the Polygon network has increased by nearly 400 percent since the beginning of this year.
Parallel to this increase, when we look at the technical data since the beginning of the year, the price continues to move in the direction of an increasing trend since June 19, with the last decline.
With the higher low structure it has made since July 26, it continues to move above the 4 h+day resistance, and we can see that the buyers keep the price above this level at 0.97 and 0.98 dollars. (Instant price $1,0124)
The price is close to the 4-hour resistance levels and the resistance levels that can be followed with a daily close above the $1.04 and $1.06 zone; 1.1275 will be 1.1520 and most importantly 1.3060 which is the daily resistance level.
In the worst scenario, the $ 0.98 stated as 4h+day is lost by the buyers and closing below this zone, pullbacks to the lower support levels can be seen.
If the rising trend, which has been continuing since July 26, does not lose the level, which is the last higher low structure, the upper resistance levels can be followed.
When we look at the data of another DEMA (moving averages) indicators, we can see that there is still an upward transition between 21 and 50-day demas and the effect of buyers at this level.
Resistance levels: 1.04 1.06 1.1275 1.1520 and $1.3060
Support levels: $0.9365 and $0.8797