Polygon price decreased by -1.08% over the past 24 hours.

Polygon price decreased by -1.08% over the past 24 hours.

Performance after Saturday 04-Mar
Period Pct Chg Momentum
Saturday -3.53% -0.0413
Week to-date -9.85% -0.1262
March -3.42% -0.0409

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date dropped -9.85% or -0.1262 lower to 1.15550. At time of writing into Sunday’s trading session, Polygon has decreased by -1.08% over the past 24 hours. For the record, MATICUSDT is -60.43% below all-time high of 2.92000. On Saturday, MATIC dropped -3.53% to 1.12770.

On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling but in oversold zone, our analysis is that there could be selling pressure as the outlook looks bearish.

For the month-to-date, MATIC is down by -3.42% or -0.0409 lower.

What can we expect from Polygon today?

Looking ahead for the day, we are looking at 1.22860 or 1.17253 (R1) as important resistance levels and daily low of 1.09200 and 1.08743 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 1.09200 would indicate selling pressure.

For the week to-date, take note that Polygon is falling as the pair posted lower, down by -9.85%. Prior performance for the week ending 2023-02-26 was -13.31%.

Key levels to watch out:

R3 1.25763
R2 1.21737
R1 1.17253
Daily Pivot 1.13227
S1 1.08743
S2 1.04717
S3 1.00233

Last updated: 02:05 am UTC, 05-Mar 2023

About Polygon

Polygon (Previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.Using Polygon, one can create Optimistic Rollup chains, ZK Rollup chains, stand alone chains or any other kind of infra required by the developer.Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc with the advantages of Ethereum’s security, vibrant ecosystem and openness.Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.

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