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March 14, 2023
After closing the previous trading day at $1.2, Polygon Matic is up to $1.22, which makes for a move of 2.02%/$0.024 today.
Polygon Matic is currently trading at $1.22 following the release of Consumer Price Index data from the United States.
Meanwhile, United States Participation Rate (Feb) released yesterday at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
Trend and momentum analysis indicates that the MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. Analysis based on the asset volatility indicates that Polygon Matic's upper Bollinger Band® is at $1.34, this is a slight indication of a slowdown.
Notwithstanding Polygon Matic's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as Tezos USD gained 11.91% and is now trading at $1.22. Bitcoin leaps up 5.6% to trade around $25,561. Cosmos USD is up 9.33%.
Furthermore, the market is looking at as things stand, upcoming United States Retail Sales data is projected to fall short of market expectations with newly published data of -0.3%, following on from the preceding figure of 3%. New data is set to be published tomorrow at 12:30 UTC. Projections for United States Core Retail Sales are set for a continuation of decline with -0.1% while previous data was 2.3%; data will be released tomorrow at 12:30 UTC. United States Producer Price Index expected to decline to 0.3% while its preceding data was 0.7%, data will be available tomorrow at 12:30 UTC.
This year has been a bright one for Polygon Matic after trading as low as $0.345 and going on to appreciate by 53.98% year to date.
