Polygon price increased by 1.54% over the past 24 hours.

Polygon price increased by 1.54% over the past 24 hours.

Performance after Tuesday 20-Dec
Period Pct Chg Momentum
Tuesday 3.55% 0.0275
Week to-date -2.06% -0.0167
December -14.69% -0.1371

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date dropped -2.06% or -0.0167 lower to 0.79590. At time of writing into Wednesday’s trading session, Polygon has increased by 1.54% over the past 24 hours. For the record, MATICUSDT is -72.74% below all-time high of 2.92000. On Tuesday, MATIC rose 3.55% to 0.80120.

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

For the month-to-date, MATIC is down by -14.69% or -0.1371 lower.

What can we expect from Polygon today?

Looking ahead for the day, we are looking at 0.82180 or 0.81740 (R1) as important resistance levels and daily low of 0.76780 and 0.77640 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A break above 0.80880 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 -2.06%. Prior performance for the week ending 2022-12-18 was -8.92%.

Key levels to watch out:

R3 0.85840
R2 0.83360
R1 0.81740
Daily Pivot 0.79260
S1 0.77640
S2 0.75160
S3 0.73540

Last updated: 01:51 am UTC, 21-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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