Polygon price increased by 3.70% over the past 24 hours.

Polygon price increased by 3.70% over the past 24 hours.

Performance after Sunday 26-Feb
Period Pct Chg Momentum
Sunday 2.78% 0.0347
Week ending 2023-02-26 -13.31% -0.1968
February 15.85% 0.1758

MATIC Analysis

Polygon (MATICUSDT) price for the week ending 2023-02-26 dropped -13.31% or -0.1968 lower to 1.28520. At time of writing into Monday’s trading session, Polygon has increased by 3.70% over the past 24 hours. For the record, MATICUSDT is -55.99% below all-time high of 2.92000. On Sunday, MATIC rose 2.78% to 1.28170.

On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling, our analysis is that there could be selling pressure as the outlook looks bearish.

For the month-to-date, MATIC is up by 15.85% or 0.1758 higher.

What can we expect from Polygon today?

Looking ahead on Monday, immediate upside resistance level at 1.30870 (R1) while on the downside, we are looking at daily low of 1.23730 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 1.30000 would suggest bullish bias after recent positive movement.

For the week ending 2023-02-26, take note that Polygon is falling as the pair posted lower, down by -13.31%. Prior performance for the week ending 2023-02-19 was 19.62%.

Key levels to watch out:

R3 1.37140
R2 1.33570
R1 1.30870
Daily Pivot 1.27300
S1 1.24600
S2 1.21030
S3 1.18330

Last updated: 02:20 am UTC, 27-Feb 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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