Bearish Polygon Matic mostly flat today, trading at $1.06

While on a 22 day downtrend Today is looking a bit better: without a clear-cut direction, Polygon Matic is trading around $1.06 and ranging between $1.05 and $1.09.

Polygon Matic's state is reflected by market data as data for United States Non Farm Payrolls released yesterday at 13:30 UTC is better than expected with 311,000, but worse than previous figure of 504,000. Highly important Unemployment Rate data from United States beat analyst expectations of 3.4 with a reading of 3.6. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 107,100, while the previous figure was 128,800.

MaticNetwork USD made an initial breakout above its 5 day Simple Moving Average at $1.06, a potential indicator of a newly emerging bullish phase. Polygon Matic's upper Bollinger Band® is at $1.42 and the lower is $0.971. Polygon Matic is climbing away and is now 8 cents from the $0.982 support line.

Despite muted price action in Polygon Matic, chart analysis indicates it is positioned for a bullish run in the short term.

While Polygon Matic is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $20,200, Bitcoin is up 2.33% today to currently trade at around $20,675.

Polygon Matic has managed to gain 39.56% so far this year despite trading at lows around $0.345 previously.