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June 24, 2023
Late into the session, Polygon Matic loses $0.021 (3.08%), currently trading at $0.654.
While price action maintains a negative bias, United States Services PMI released yesterday at 13:45 UTC with a figure of 54.1, while the previous figure was 54.9. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 166,500, while the previous figure was 155,100. United States CFTC Gold speculative net positions came out at 163,000.
Despite being in the red so far in the current trading session, MaticNetwork USD peaked above its 21 day Simple Moving Average around $0.691 — typically an early indicator of a new bullish trend beginning to emerge. Polygon Matic could begin to recover as it approaches significant support, now 1 cents away from $0.651. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems Polygon Matic might start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, Binance Coin is down to $236.78, losing $7.43, after closing at $244.21 in the preceding trading session.
Other assets are showing positive performances as Bitcoin Cash gained 17.46% and is now trading at $212.77. FTX Token is up 9.54% to $1.36.
Pointing downwards for around 4 months. Polygon Matic is now trading 56.28% below the significant high of $1.54 it set around 4 months ago.
