Polygon price increased by 1.78% over the past 24 hours.

Polygon price increased by 1.78% over the past 24 hours.

Performance after Sunday 04-Dec
Period Pct Chg Momentum
Sunday 2.03% 0.0183
Week ending 2022-12-04 9.15% 0.0772
December -0.50% -0.0047

MATIC Analysis

Polygon (MATICUSDT) price for the week ending 2022-12-04 gained 9.15% or 0.0772 higher to 0.92830. At time of writing into Monday’s trading session, Polygon has increased by 1.78% over the past 24 hours. For the record, MATICUSDT is -68.21% below all-time high of 2.92000. On Sunday, MATIC rose 2.03% to 0.92120.

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 down by -0.50% or -0.0047 lower.

What can we expect from Polygon today?

Looking ahead on Monday, we are looking at 0.95020 or 0.92930 (R1) as important resistance levels and daily low of 0.90110 and 0.90710 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A break above 0.92330 would suggest bullish bias after recent positive movement.

For the week ending 2022-12-04, take note that Polygon is rising and up by 9.15% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-11-27 was 4.60%.

Key levels to watch out:

R3 0.95150
R2 0.93740
R1 0.92930
Daily Pivot 0.91520
S1 0.90710
S2 0.89300
S3 0.88490

Last updated: 01:50 am UTC, 05-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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