MATICUSDT Chart by TradingView
| Performance after Sunday 21-Aug | |||
| Period | Pct | Chg | Momentum |
| Sunday | 4.35% | 0.0342 |  |
| Week ending 2022-08-21 | -17.99% | -0.18 |  |
| August | -12.48% | -0.1158 | |
MATIC Analysis
Polygon (MATICUSDT) price for the week ending 2022-08-21 dropped -17.99% or -0.18 lower to 0.81210. At time of writing into Monday’s trading session, Polygon has increased by 1.80% over the past 24 hours. For the record, MATICUSDT is -72.19% below all-time high of 2.92000. On Sunday, MATIC rose 4.35% to 0.82050.
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 -12.48% or -0.1158 lower.
What can we expect from Polygon today?
Looking ahead on Monday, immediate upside resistance level at 0.84087 (R1) while on the downside, we are looking at daily low of 0.77840 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 0.83000 would suggest bullish bias after recent positive movement.
For the week ending 2022-08-21, take note that Polygon is falling as the pair posted lower, down by -17.99%. Prior performance for the week ending 2022-08-14 was 10.31%.
Key levels to watch out:
| R3 | 0.89247 |
| R2 | 0.86123 |
| R1 | 0.84087 |
| Daily Pivot | 0.80963 |
| S1 | 0.78927 |
| S2 | 0.75803 |
| S3 | 0.73767 |
Last updated: 03:06 am UTC, 22-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.
