Polygon price increased by 0.24% over the past 24 hours.

Polygon price increased by 0.24% over the past 24 hours.

Performance after Monday 09-Jan
Period Pct Chg Momentum
Monday 0.23% 0.0019
Week to-date 1.05% 0.0088
January 12.03% 0.0912

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date gained 1.05% or 0.0088 higher to 0.84950. At time of writing into Tuesday’s trading session, Polygon has increased by 0.24% over the past 24 hours. For the record, MATICUSDT is -70.91% below all-time high of 2.92000. On Monday, MATIC rose 0.23% to 0.84260.

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 12.03% or 0.0912 higher.

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 0.87700 or trades above daily pivot 0.85147. and daily low of 0.83480 and 0.82593 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A break above 0.87700 would suggest bullish bias after recent positive movement.

For the week to-date, take note that Polygon is rising and up by 1.05% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2023-01-08 was 10.57%.

Key levels to watch out:

R3 0.91033
R2 0.89367
R1 0.86813
Daily Pivot 0.85147
S1 0.82593
S2 0.80927
S3 0.78373

Last updated: 02:06 am UTC, 10-Jan 2023

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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