Polygon price decreased by -2.96% over the past 24 hours.

Polygon price decreased by -2.96% over the past 24 hours.

Performance after Sunday 30-Oct
Period Pct Chg Momentum
Sunday -2.70% -0.0252
Week ending 2022-10-30 1.09% 0.0098
October 15.74% 0.1224

MATIC Analysis

Polygon (MATICUSDT) price for the week ending 2022-10-30 gained 1.09% or 0.0098 higher to 0.90020. At time of writing into Monday’s trading session, Polygon has decreased by -2.96% over the past 24 hours. For the record, MATICUSDT is -69.17% below all-time high of 2.92000. On Sunday, MATIC dropped -2.70% to 0.90840.

On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is falling, our analysis is that bullish momentum could be fading.

For the month-to-date, MATIC is up by 15.74% or 0.1224 higher.

What can we expect from Polygon today?

Looking ahead on Monday, immediate support level is at 0.88840 (S1) with break below could see further selling pressure towards 0.86840 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 0.94880 as an important indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. Polygon need to break on either side to indicate a short-term bias. A close below 0.89860 would indicate selling pressure.

For the week ending 2022-10-30, take note that Polygon is rising and up by 1.09% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-10-23 was 12.55%.

Key levels to watch out:

R3 0.98880
R2 0.96880
R1 0.93860
Daily Pivot 0.91860
S1 0.88840
S2 0.86840
S3 0.83820

Last updated: 02:05 am UTC, 31-Oct 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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