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May 29, 2023Struggling to find upward momentum, Polygon Matic has shed $0.014 to currently trade at $0.929 as it ranges between $0.928 and $0.948 so far today.
Trend-focused traders would be interested to note that investors are seeking long positions as MaticNetwork USD price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that Polygon Matic's upper Bollinger Band® is at $0.937 which indicates a further downward move may follow. As the day gets underway, chart analysis suggests Polygon Matic could begin to recover as it approaches significant support, now 1 cents away from $0.92. Dipping below could be an indication that further losses are ahead.
With market volatility ebbing, the current technical outlook indicates Polygon Matic will remain range-bound for the immediate future.
In the meantime, negative performances are also seen in other markets, EOS is down $0.014 from the beginning of the session and now trades around $0.898. Bitcoin closed at $27,900 (down 0.95%).
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as projections for United States Consumer Confidence are set for a continuation of decline with 99 while previous data was 101.3; data will be released tomorrow at 14:00 UTC.
Trending downwards for around 3 months. Polygon Matic reached a significant high of $1.54 around 3 months ago but has lost 38.9% since then.
