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April 24, 2023
Polygon Matic has been losing ground for 9 days, shedding a total of 16.28% of its value. More of the same today: struggling to find upward momentum, Polygon Matic has shed $0.009 to currently trade at $0.991 as it ranges between $0.976 and $1.02 so far today.
MaticNetwork USD could begin to recover as it approaches significant support, now 3 cents away from $0.964. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Polygon Matic peaked above its 200 day Simple Moving Average around $1 — typically an early indicator of a new bullish trend beginning to emerge. Polygon Matic's lower Bollinger Band® is at $0.966, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, it seems Polygon Matic —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD slumps 2.98% to trade around $6.43.
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
Looking ahead, ongoing depreciation may be prolonged as United States Consumer Confidence expected to decline to 104 while its preceding data was 104.2, data will be available tomorrow at 14:00 UTC.
Furthermore, United States Building Permits is scheduled for tomorrow at 13:30 UTC. United States New Home Sales (Mar) scheduled to come out tomorrow at 14:00 UTC.
Trending downwards for around 2 months. Over the past 2 months, Polygon Matic has retreated 34.97% from a noteworthy peak of $1.54.
