Polygon Price Analysis: Polygon retraces below $1.500, what next for the bears?

TL;DR Breakdown Polygon price analysis is bearish for todayMATIC/USD traded in a range of $1.4738 – $1.5348, indicating mild volatility Polygon Price Analysis: General price overview Polygon price analysis is bearish for today as the market rallied more than 25 percent on Tuesday, only to retrace by 7.3 percent overnight. However, since MATIC/USD started to consolidate, we assume bulls are exhausted, and a retracement is expected later today. The digital currency market traded bearishly over the last 24 hours with Bitcoin and Ethereum shedding 2.3 percent and 4.35 percent respectively.  Polygon price movement in the last 24 hours: Polygon contracted bands indicate low trading activity MATIC/USD traded in a range of $1.4738 – $1.5348, indicating mild volatility over the last 24 hours. Trading volume has increased by 15.1 percent and totals $1.02 billion, while the total market capitalization trades around $9.6 billion, ranking the coin in 17th place overall. MATIC/USD 4-hour chart: MATIC prepares for a retracement? On the 4-hour Polygon price analysis chart, we can see the MATIC/USD price action trading sideways overnight, indicating an upcoming retracement Polygon price action has traded with a strong bullish momentum over the last month. From the previous major swing low of around $1.20, MATIC/USD has gained almost 100 percent to the current swing high of $1.69. Source: Tradingview Since another 20 percent were gained y...