Polygon price decreased by -1.76% over the past 24 hours.

Polygon price decreased by -1.76% over the past 24 hours.

Performance after Sunday 14-Aug
Period Pct Chg Momentum
Sunday -2.45% -0.0251
Week ending 2022-08-14 10.31% 0.0935
August 8.27% 0.0767

MATIC Analysis

Polygon (MATICUSDT) price for the week ending 2022-08-14 gained 10.31% or 0.0935 higher to 1.00460. At time of writing into Monday’s trading session, Polygon has decreased by -1.76% over the past 24 hours. For the record, MATICUSDT is -65.60% below all-time high of 2.92000. On Sunday, MATIC dropped -2.45% to 1.00050.

On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is rising but in overbought zone, our analysis is that there is bullish momentum and price could continue to go higher.

For the month-to-date, MATIC is up by 8.27% or 0.0767 higher.

What can we expect from Polygon today?

Looking ahead on Monday, to see upside interest, we prefer to look at price breakout of last daily high of 1.05450 or trades above daily pivot 1.01353. and daily low of 0.98560 and 0.97257 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 0.98560 would indicate selling pressure.

For the week ending 2022-08-14, take note that Polygon is rising and up by 10.31% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-08-07 was -2.25%.

Key levels to watch out:

R3 1.11037
R2 1.08243
R1 1.04147
Daily Pivot 1.01353
S1 0.97257
S2 0.94463
S3 0.90367

Last updated: 02:52 am UTC, 15-Aug 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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