Polygon price decreased by -3.74% over the past 24 hours.

Polygon price decreased by -3.74% over the past 24 hours.

Performance after Wednesday 19-Oct
Period Pct Chg Momentum
Wednesday -2.28% -0.0197
Week to-date 4.02% 0.0321
October 6.78% 0.0527

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date gained 4.02% or 0.0321 higher to 0.83050. At time of writing into Thursday’s trading session, Polygon has decreased by -3.74% over the past 24 hours. For the record, MATICUSDT is -71.56% below all-time high of 2.92000. On Wednesday, MATIC dropped -2.28% to 0.84450.

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

For the month-to-date, MATIC is up by 6.78% or 0.0527 higher.

What can we expect from Polygon today?

Looking ahead for the day, we are looking at 0.88140 or 0.87053 (R1) as important resistance levels and daily low of 0.83980 and 0.82913 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 0.83980 would indicate selling pressure.

For the week to-date, take note that Polygon is rising and up by 4.02% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-10-16 was -3.28%.

Key levels to watch out:

R3 0.91193
R2 0.89657
R1 0.87053
Daily Pivot 0.85517
S1 0.82913
S2 0.81377
S3 0.78773

Last updated: 02:52 am UTC, 20-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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