Polygon price increased by 0.85% over the past 24 hours.

Polygon price increased by 0.85% over the past 24 hours.

Performance after Thursday 22-Dec
Period Pct Chg Momentum
Thursday 0.35% 0.0028
Week to-date -1.94% -0.0158
December -14.60% -0.1362

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date dropped -1.94% or -0.0158 lower to 0.79680. At time of writing into Friday’s trading session, Polygon has increased by 0.85% over the past 24 hours. For the record, MATICUSDT is -72.71% below all-time high of 2.92000. On Thursday, MATIC rose 0.35% to 0.79660.

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 -14.60% or -0.1362 lower.

What can we expect from Polygon today?

Looking ahead for the day, we are looking at 0.80360 or 0.80620 (R1) as important resistance levels and daily low of 0.76980 and 0.77840 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A break above 0.79760 would suggest bullish bias after recent positive movement.

For the week to-date, take note that Polygon is falling as the pair posted lower, down by -1.94%. Prior performance for the week ending 2022-12-18 was -8.92%.

Key levels to watch out:

R3 0.83400
R2 0.81580
R1 0.80620
Daily Pivot 0.78800
S1 0.77840
S2 0.76020
S3 0.75060

Last updated: 01:52 am UTC, 23-Dec 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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