Polygon price decreased by -5.41% over the past 24 hours.

Polygon price decreased by -5.41% over the past 24 hours.

Performance after Friday 11-Nov
Period Pct Chg Momentum
Friday -5.35% -0.0602
Week to-date -9.09% -0.1032
November 14.31% 0.1292

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date dropped -9.09% or -0.1032 lower to 1.03180. At time of writing into Saturday’s trading session, Polygon has decreased by -5.41% over the past 24 hours. For the record, MATICUSDT is -64.66% below all-time high of 2.92000. On Friday, MATIC dropped -5.35% to 1.06430.

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 up by 14.31% or 0.1292 higher.

What can we expect from Polygon today?

Looking ahead for the day, we are looking at 1.16210 or 1.16130 (R1) as important resistance levels and daily low of 0.96630 and 0.96680 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 0.96630 would indicate selling pressure.

For the week to-date, take note that Polygon is falling as the pair posted lower, down by -9.09%. Prior performance for the week ending 2022-11-06 was 24.94%.

Key levels to watch out:

R3 1.35580
R2 1.25830
R1 1.16130
Daily Pivot 1.06380
S1 0.96680
S2 0.86930
S3 0.77230

Last updated: 01:52 am UTC, 12-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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