Polygon price decreased by -1.17% over the past 24 hours.

Polygon price decreased by -1.17% over the past 24 hours.

Performance after Tuesday 27-Dec
Period Pct Chg Momentum
Tuesday -0.74% -0.006
Week to-date 0.86% 0.0068
December -14.06% -0.1312

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date gained 0.86% or 0.0068 higher to 0.80180. At time of writing into Wednesday’s trading session, Polygon has decreased by -1.17% over the past 24 hours. For the record, MATICUSDT is -72.54% below all-time high of 2.92000. On Tuesday, MATIC dropped -0.74% to 0.80940.

On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is rising, our analysis is that the price action might be set for a rebound.

For the month-to-date, MATIC is down by -14.06% or -0.1312 lower.

What can we expect from Polygon today?

Looking ahead for the day, to see upside interest, we prefer to look at price breakout of last daily high of 0.81920 or trades above daily pivot 0.81237. and daily low of 0.80850 and 0.80553 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 0.80850 would indicate selling pressure.

For the week to-date, take note that Polygon is rising and up by 0.86% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-12-25 was -2.17%.

Key levels to watch out:

R3 0.82693
R2 0.82307
R1 0.81623
Daily Pivot 0.81237
S1 0.80553
S2 0.80167
S3 0.79483

Last updated: 01:23 am UTC, 28-Dec 2022

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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