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April 28, 2023
Polygon Matic falls to $1, following mixed behavior today as it ranges between $1 and $1.
- United States Core PCE Price Index (MoM) (Mar) is next today at 12:30 UTC.
- Today's losses are adding to a 13 day bearish run, during which Polygon Matic lost $0.172 of its value.
Earlier data releases related to Polygon Matic – Pending Home Sales in United States fell short of market expectations (0.5%) with a reading of -5.2%, continuing the decline from the previous figure of 0.8%. Highly important GDP data from United States beat analyst expectations of two with a reading of 1.1.
Here is the technical analysis of Polygon Matic before macro data is released:
Despite being in the red so far in the current trading session, MaticNetwork USD peaked above its 200 day Simple Moving Average around $1 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $0.934, a low enough level to, generally, suggest that Polygon Matic is trading below its fair value. Polygon Matic could begin to recover as it approaches significant support, now 2 cents away from $0.982. Dipping below could be an indication that further losses are ahead.
Technical analysis indicates that Polygon Matic (currently on a downtrend) might reverse course and start pointing upward in the short term.
Coming up for Polygon Matic — United States Core PCE Price Index (MoM) (Mar) is expected today at 12:30 UTC.
As the markets get ready for more data to be released — FTX Token gained 9.54% and is now trading at $1.36. Binance Coin is down to $321.41, losing $9.3, after closing at $330.72 in the preceding trading session. UNICORN Token USD is down $0.197 from the beginning of the session and now trades around $6.43.
Trending downwards for around 2 months. Polygon Matic has fallen back around 34.39% over the past 2 months, from a notable high of $1.54.
