Polygon price decreased by -2.74% over the past 24 hours.

Polygon price decreased by -2.74% over the past 24 hours.

Performance after Thursday 23-Feb
Period Pct Chg Momentum
Thursday -3.03% -0.0423
Week to-date -8.62% -0.1274
February 21.79% 0.2417

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date dropped -8.62% or -0.1274 lower to 1.35110. At time of writing into Friday’s trading session, Polygon has decreased by -2.74% over the past 24 hours. For the record, MATICUSDT is -53.73% below all-time high of 2.92000. On Thursday, MATIC dropped -3.03% to 1.35330.

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

For the month-to-date, MATIC is up by 21.79% or 0.2417 higher.

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 1.41880 or trades above daily pivot 1.36840. and daily low of 1.33310 and 1.31800 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 1.33310 would indicate selling pressure.

For the week to-date, take note that Polygon is falling as the pair posted lower, down by -8.62%. Prior performance for the week ending 2023-02-19 was 19.62%.

Key levels to watch out:

R3 1.48940
R2 1.45410
R1 1.40370
Daily Pivot 1.36840
S1 1.31800
S2 1.28270
S3 1.23230

Last updated: 02:20 am UTC, 24-Feb 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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