Polygon price decreased by -5.09% over the past 24 hours.

Polygon price decreased by -5.09% over the past 24 hours.

Performance after Thursday 24-Nov
Period Pct Chg Momentum
Thursday -1.45% -0.0125
Week to-date 2.96% 0.0239
November -7.95% -0.0718

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date gained 2.96% or 0.0239 higher to 0.83080. At time of writing into Friday’s trading session, Polygon has decreased by -5.09% over the past 24 hours. For the record, MATICUSDT is -71.55% below all-time high of 2.92000. On Thursday, MATIC dropped -1.45% to 0.84890.

On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is rising, our analysis is that the price action might be set for a rebound.

For the month-to-date, MATIC is down by -7.95% or -0.0718 lower.

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 0.89140 or trades above daily pivot 0.86080. and daily low of 0.84210 and 0.83020 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 0.84210 would indicate selling pressure.

For the week to-date, take note that Polygon is rising and up by 2.96% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-11-20 was -9.28%.

Key levels to watch out:

R3 0.92880
R2 0.91010
R1 0.87950
Daily Pivot 0.86080
S1 0.83020
S2 0.81150
S3 0.78090

Last updated: 02:06 am UTC, 25-Nov 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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