MATIC BTC Polygon Technical Analysis

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By Frans van Elst

Polygon logo In this Polygon technical analysis, we will examine the current price action, trading volume, key levels and indicators for MATIC-BTC. Polygon (MATIC) is a decentralized platform that enables developers to build scalable and secure blockchain applications. It utilizes a proof-of-stake consensus algorithm and features a modular architecture that allows for the integration of various sidechains, enabling interoperability with other blockchain networks. With its focus on usability and accessibility, Polygon (MATIC) is poised to become a leading platform for decentralized applications and use cases.

Polygon Price Overview:

As of May 23, 2024, Polygon is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for MATIC-BTC:

Explore potential downturns for Polygon (MATICBTC) at 1.07e-05 BTC, supported by cautionary indicators and weakened fundamentals, as revealed in technical analysis.

Metric Value
Open (O) 1e-05
High (H) 1e-05
Low (L) 1e-05
Close (C) 1e-05
Volume (C) 3,487,501.00
  • Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
  • High (H): Polygon reached a daily high of around 1e-05 BTC.
  • Low (L): The daily low for MATIC-BTC was approximately 1e-05 BTC.
  • Close (C): At the time of analysis, Polygon is trading near its daily close of 1e-05 BTC.
Metric Value
1D Change (%) 2.78%
3D Change (%) 2.19%
7D Change (%) 0.94%
30D Change (%) -2.19%
90D Change (%) -44.78%
YTD Change (%) -53.22%

Over the past three days, MATICBTC has increased by approximately 2.19%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.94%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MATICBTC maintaining a downward trend of approximately -2.19%, despite intermittent fluctuations. Examining the last 90 days, MATICBTC has witnessed substantial fall of approximately -44.78%, reflecting strong long-term confidence. Year-to-date, MATICBTC has steadily declined by around -53.22%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Polygon Live Chart:

You can access a live price chart for MATIC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.29661.
  • Momentum score is -0.11895.

MATIC BTC Technical Analysis

Polygon Trading Volume:

The trading volume for Polygon (MATIC) over the past 24 hours has been significant, with approximately 3,487,501.00 BTC traded against MATIC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): MATIC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Polygon is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for MATIC-BTC is currently in the low zone, around 41.10586. This suggests that Polygon is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Polygon (MATIC-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.

Explore potential downturns for Polygon (MATICBTC) at 1.07e-05 BTC, supported by cautionary indicators and weakened fundamentals, as revealed in technical analysis.

Unlock additional insights on MATIC USDT Polygon Technical Analysis with our detailed analysis; a must-read if you enjoyed the content of this post.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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