Polygon price increased by 7.31% over the past 24 hours.

Polygon price increased by 7.31% over the past 24 hours.

Performance after Monday 17-Oct
Period Pct Chg Momentum
Monday 6.24% 0.0498
Week to-date 7.73% 0.0617
October 10.58% 0.0823

MATIC Analysis

Polygon (MATICUSDT) price for the week to-date gained 7.73% or 0.0617 higher to 0.86010. At time of writing into Tuesday’s trading session, Polygon has increased by 7.31% over the past 24 hours. For the record, MATICUSDT is -70.54% below all-time high of 2.92000. On Monday, MATIC rose 6.24% to 0.84820.

On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is rising, our analysis is that there is bullish momentum and price could continue to go higher.

For the month-to-date, MATIC is up by 10.58% or 0.0823 higher.

What can we expect from Polygon today?

Looking ahead for the day, immediate upside resistance level at 0.86687 (R1) while on the downside, we are looking at daily low of 0.79580 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 0.85000 would suggest bullish bias after recent positive movement.

For the week to-date, take note that Polygon is rising and up by 7.73% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-10-16 was -3.28%.

Key levels to watch out:

R3 0.92107
R2 0.88553
R1 0.86687
Daily Pivot 0.83133
S1 0.81267
S2 0.77713
S3 0.75847

Last updated: 03:05 am UTC, 18-Oct 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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