MATICUSDT Chart by TradingView
| Performance after Sunday 31-Jul | |||
| Period | Pct | Chg | Momentum |
| Sunday | -0.32% | -0.003 |  |
| Week ending 2022-07-31 | 5.50% | 0.0484 |  |
| July | 92.99% | 0.4471 | |
MATIC Analysis
Polygon (MATICUSDT) price for the week ending 2022-07-31 gained 5.50% or 0.0484 higher to 0.93720. At time of writing into Monday’s trading session, Polygon has decreased by -4.22% over the past 24 hours. For the record, MATICUSDT is -67.90% below all-time high of 2.92000. On Sunday, MATIC dropped -0.32% to 0.92790.
On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is falling, our analysis is that bullish momentum could be fading.
End of July, MATIC is up by 92.99% or 0.4471 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 1.01970 or trades above daily pivot 0.95277. and daily low of 0.91070 and 0.88583 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 0.91070 would indicate selling pressure.
For the week ending 2022-07-31, take note that Polygon is rising and up by 5.50% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-07-24 was 16.81%.
Key levels to watch out:
| R3 | 1.10383 |
| R2 | 1.06177 |
| R1 | 0.99483 |
| Daily Pivot | 0.95277 |
| S1 | 0.88583 |
| S2 | 0.84377 |
| S3 | 0.77683 |
Last updated: 03:10 am UTC, 01-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.
