Polygon price increased by 6.16% over the past 24 hours.

Polygon price increased by 6.16% over the past 24 hours.

Performance after Tuesday 14-Feb
Period Pct Chg Momentum
Tuesday 6.14% 0.0728
Week to-date 0.78% 0.0096
February 12.28% 0.1362

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date gained 0.78% or 0.0096 higher to 1.24560. At time of writing into Wednesday’s trading session, Polygon has increased by 6.16% over the past 24 hours. For the record, MATICUSDT is -57.34% below all-time high of 2.92000. On Tuesday, MATIC rose 6.14% to 1.25790.

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 12.28% or 0.1362 higher.

What can we expect from Polygon today?

Looking ahead for the day, immediate upside resistance level at 1.29340 (R1) while on the downside, we are looking at daily low of 1.15600 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 1.26020 would suggest bullish bias after recent positive movement.

For the week to-date, take note that Polygon is rising and up by 0.78% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2023-02-12 was 2.76%.

Key levels to watch out:

R3 1.39760
R2 1.32890
R1 1.29340
Daily Pivot 1.22470
S1 1.18920
S2 1.12050
S3 1.08500

Last updated: 01:51 am UTC, 15-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.

Leave a Reply

Your email address will not be published. Required fields are marked *