Polygon price increased by 2.10% over the past 24 hours.

Polygon price increased by 2.10% over the past 24 hours.

Performance after Sunday 22-Jan
Period Pct Chg Momentum
Sunday 0.42% 0.0042
Week ending 2023-01-22 1.10% 0.0108
January 33.47% 0.2538

MATIC Analysis

Polygon (MATICUSDT) price for the week ending 2023-01-22 gained 1.10% or 0.0108 higher to 1.01210. At time of writing into Monday’s trading session, Polygon has increased by 2.10% over the past 24 hours. For the record, MATICUSDT is -65.34% below all-time high of 2.92000. On Sunday, MATIC rose 0.42% to 0.99390.

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 33.47% or 0.2538 higher.

What can we expect from Polygon today?

Looking ahead on Monday, we are looking at 1.04090 or 1.02513 (R1) as important resistance levels and daily low of 0.97500 and 0.96883 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A break above 1.03130 would suggest bullish bias after recent positive movement.

For the week ending 2023-01-22, take note that Polygon is rising and up by 1.10% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2023-01-15 was 16.94%.

Key levels to watch out:

R3 1.08143
R2 1.05637
R1 1.02513
Daily Pivot 1.00007
S1 0.96883
S2 0.94377
S3 0.91253

Last updated: 01:35 am UTC, 23-Jan 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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