Polygon Matic still looks indecisive as it trades even at $0.9

It's been more of the same this session on the back of 24 days of flat trade, Today's session so far looks to be heading in a similar way — without a clear-cut direction, Polygon Matic is trading around $0.9 and ranging between $0.895 and $0.9.

This uncertain state for Polygon Matic is reflected by published market data as highly important Non Farm Payrolls data from United States beat analyst expectations of 180,000 with a reading of 339,000. Average Hourly Earnings in United States fell short of market expectations (0.4%) with a reading of 0.3%, continuing the decline from the previous figure of 0.4%. Unemployment Rate in United States fell short of market expectations (3.5) with a reading of 3.7, continuing the decline from the previous figure of 3.4.

MaticNetwork USD made an initial break below its 5 day Simple Moving Average at $0.897, a possible indication of a forthcoming negative trend. Polygon Matic's upper Bollinger Band® is at $0.933, suggesting that a downward move may follow. In contrast, Polygon Matic is approaching key support, around 1 cents away from $0.884. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Despite the market lacking direction, technical chart analysis strongly suggests Polygon Matic is positioned for a downward move in the near term.

Other markets show mixed performance as FTX Token leaps up 9.54% to trade around $1.36. UNICORN Token USD rises 1.62% to trade around $6.47.

Trending downwards for around 3 months. Polygon Matic is now trading 41.66% below the significant high of $1.54 it set around 3 months ago.