Polygon price increased by 2.35% over the past 24 hours.

Polygon price increased by 2.35% over the past 24 hours.

Performance after Sunday 17-Jul
Period Pct Chg Momentum
Sunday 3.25% 0.0237
Week ending 2022-07-17 31.69% 0.1812
July 56.14% 0.2699

Polygon Analysis

Polygon (MATICUSDT) price for the week ending 2022-07-17 gained 31.69% or 0.1812 higher to 0.75070. At time of writing into Monday’s trading session, Polygon has increased by 2.35% over the past 24 hours. For the record, Polygon is -74.29% below all-time high of 2.92. On Sunday, MATIC rose 3.25% to 0.75.

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 up by 56.14% or 0.2699 higher.

What can we expect from Polygon today?

Looking ahead on Monday, immediate upside resistance level at 0.78903 (R1) while on the downside, we are looking at daily low of 0.71870 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 0.79000 would suggest bullish bias after recent positive movement.

For the week ending 2022-07-17, take note that Polygon is rising and up by 31.69% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-07-10 was 23.72%.

Key levels to watch out:

R3 0.86033
R2 0.82517
R1 0.78903
Daily Pivot 0.75387
S1 0.71773
S2 0.68257
S3 0.64643

Last updated: 02:08 am UTC, 18-Jul 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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