Polygon Matic trades at $1.09 after United States Philadelphia Fed Manufacturing Index (Apr) was released today at 12:30 UTC.

Without a clear-cut direction, Polygon Matic is trading around $1.09 and ranging between $1.08 and $1.1.

• Polygon Matic is currently trading at $1.09 following the release of Philadelphia Fed Manufacturing Index (Apr) data from the United States.
• While mostly sideways today, Polygon Matic is on a 5 day bearish trend during which it lost $0.1.

Highly important Crude Oil Inventories data from United States beat analyst expectations of -1 million with a reading of -4.58 million. United States 20-Year Bond Auction released yesterday at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909.

The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. Polygon Matic's upper Bollinger Band® is at $1.18, suggesting that a downward move may follow. In contrast, Polygon Matic is approaching key support, around 1 cents away from $1.08. 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.

United States Existing Home Sales (Mar) is expected today at 14:00 UTC.

FTX Token rallies 9.54% to trade around $1.36. Dogecoin is up 4.14%. UNICORN Token USD draws back 2.98% to trade around $6.43.

Trending downwards for around 2 months. Polygon Matic reached a significant high of $1.54 around 2 months ago but has lost 29.73% since then.