Polygon price decreased by -6.37% over the past 24 hours.

MATIC Analysis

Overall Performance
24-hr7-Day30-Day1-YearMkt Cap.24-hr Vol.
-6.37%1.44%28.33%2.37%10.61 bn1.07 bn

Polygon (MATICUSDT) price over 7 days gained 1.44% to 1.14320 . For the record, MATICUSDT is -60.78% below all-time high of 2.92000.

Over the last 30 days, MATIC is up by 28.33% while 12-month period is up by 2.37%.

For the week, our technical outlook suggests price consolidation while Polygon is up over the last 7 days.

What can we expect from Polygon today?

At time of writing, however, Polygon has decreased by -6.37% over the past 24 hours. Our daily analysis is that the price action looks mixed.

Looking ahead for the day, immediate support level is at 1.06447 (S1) with break below could see further selling pressure towards 0.98573 (S2). As the current momentum is stalling, we prefer to look at firm break of the recent daily high of 1.22100 as a possible indicator of buying interest. Break above could target 1.29973. Rejection from the resistance level could suggest price consolidation.

Key levels to watch out:

R31.37847
R21.29973
R11.22147
Daily Pivot1.14273
S11.06447
S20.98573
S30.90747

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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