Polygon price increased by 1.73% over the past 24 hours.

Polygon price increased by 1.73% over the past 24 hours.

Performance after Friday 05-Aug
Period Pct Chg Momentum
Friday 4.09% 0.0365
Week to-date -1.00% -0.0093
August -1.00% -0.0093

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date dropped -1.00% or -0.0093 lower to 0.91860. At time of writing into Saturday’s trading session, Polygon has increased by 1.73% over the past 24 hours. For the record, MATICUSDT is -68.54% below all-time high of 2.92000. On Friday, MATIC rose 4.09% to 0.92800.

On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is rising, our analysis is that there is bullish momentum and price could continue to go higher.

For the month-to-date, MATIC is down by -1.00% or -0.0093 lower.

What can we expect from Polygon today?

Looking ahead for the day, immediate upside resistance level at 0.94760 (R1) while on the downside, we are looking at daily low of 0.88900 as an important support. Break below this level could weaken the current bullish momentum.
Polygon need to break on either side to indicate a short-term bias. A break above 0.93790 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 -1.00%. Prior performance for the week ending 2022-07-31 was 5.50%.

Key levels to watch out:

R3 0.99650
R2 0.96720
R1 0.94760
Daily Pivot 0.91830
S1 0.89870
S2 0.86940
S3 0.84980

Last updated: 02:51 am UTC, 06-Aug 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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