Polygon Matic cryptocurrency trades up $0.011, approximately 1.7% higher this afternoon

Polygon Matic closed out today at $0.631. Today, it reached highs around $0.654 before dropping back to $0.642.

United States Fed Chair Powell testimony is next today at 14:00 UTC.

Meanwhile, United States Building Permits (May) came out at 1.49 million, while a consensus of analysts was expecting 1.43 million. Data for United States Housing Starts published yesterday at 12:30 UTC came out at 21.7%, beating projections of -0.8% and showing improvement over the preceding figure of -2.9%. United States Housing Starts (May) released yesterday at 12:30 UTC with a figure of 1.63 million, while the previous figure was 1.34 million.

Chart analysis suggests MaticNetwork USD broke through the $0.64 resistance and climbed above it 1 cents; next resistance level is at $0.655.

Polygon Matic shows positive signs, other assets are also on par: Bitcoin Cash added 15.86% to its value, now trading at $127.36. FTX Token is up 9.54%. Litecoin increases 4.32% to trade around $83.73.

Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Initial Jobless Claims is projected to outperform its last figure with 260,000. It previously stood at 262,000; data will be released tomorrow at 12:30 UTC.

Also worthy of note, United States Crude Oil Inventories expected to decline to 1.87 million while its preceding data was 7.92 million, data will be available tomorrow at 15:00 UTC.

Elsewhere, United States Existing Home Sales (May) will be released tomorrow at 14:00 UTC.

Trending downwards for around 4 months. Over the past 4 months, Polygon Matic has retreated 59.1% from a noteworthy peak of $1.54.