Polygon price increased by 1.06% over the past 24 hours.

Polygon price increased by 1.06% over the past 24 hours.

Performance after Monday 20-Feb
Period Pct Chg Momentum
Monday -0.22% -0.0032
Week to-date 0.24% 0.0035
February 33.59% 0.3726

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date gained 0.24% or 0.0035 higher to 1.48200. At time of writing into Tuesday’s trading session, Polygon has increased by 1.06% over the past 24 hours. For the record, MATICUSDT is -49.25% below all-time high of 2.92000. On Monday, MATIC dropped -0.22% to 1.47530.

On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is falling, our analysis is that bullish momentum could be fading.

For the month-to-date, MATIC is up by 33.59% or 0.3726 higher.

What can we expect from Polygon today?

Looking ahead for the day, we are looking at 1.53630 or 1.51137 (R1) as important resistance levels and daily low of 1.43110 and 1.43517 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 1.43110 would indicate selling pressure.

For the week to-date, take note that Polygon is rising and up by 0.24% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2023-02-19 was 19.62%.

Key levels to watch out:

R3 1.58757
R2 1.54743
R1 1.51137
Daily Pivot 1.47123
S1 1.43517
S2 1.39503
S3 1.35897

Last updated: 02:20 am UTC, 21-Feb 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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