MATIC USDT 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-USDT. Polygon (MATIC) is a decentralized platform that enables developers to build scalable and interoperable applications with ease. Its innovative technology stack allows for faster transaction processing times and lower fees, making it an attractive option for users looking for a more efficient blockchain experience. Additionally, Polygon’s modular architecture enables the creation of customizable blockchain networks, giving developers greater flexibility in building their applications.

Polygon Price Overview:

As of May 23, 2024, Polygon is trading at approximately 0.7294 USDT. Let’s dive into the detailed price action for MATIC-USDT:

Unveil Polygon’s (MATICUSDT) positive future at 7.29e-01 USDT through technical analysis, showcasing bullish trends, robust support, and promising indicators.

Metric Value
Open (O) 0.7231
High (H) 0.7593
Low (L) 0.7179
Close (C) 0.7294
Volume (C) 69,741,273.00
  • Open (O): The opening price for today’s trading session was approximately 0.7231 USDT.
  • High (H): Polygon reached a daily high of around 0.7593 USDT.
  • Low (L): The daily low for MATIC-USDT was approximately 0.7179 USDT.
  • Close (C): At the time of analysis, Polygon is trading near its daily close of 0.7294 USDT.
Metric Value
1D Change (%) 0.86%
3D Change (%) -2.82%
7D Change (%) 5.07%
30D Change (%) 0.04%
90D Change (%) -26.08%
YTD Change (%) -24.87%

Over the past three days, MATICUSDT has declined by approximately -2.82%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 5.07%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with MATICUSDT maintaining an upward trend of approximately 0.04%, despite intermittent fluctuations. Examining the last 90 days, MATICUSDT has witnessed substantial decrease of approximately -26.08%, reflecting strong long-term confidence. Year-to-date, MATICUSDT has steadily declined by around -24.87%, 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-USDT 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 0.50741.
  • Momentum score is 0.01235.

MATIC USDT Technical Analysis

Polygon Trading Volume:

The trading volume for Polygon (MATIC) over the past 24 hours has been significant, with approximately 69,741,273.00 USDT 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-USDT is currently in the neutral zone, around 47.17442. This suggests that Polygon is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

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

Unveil Polygon’s (MATICUSDT) positive future at 7.29e-01 USDT through technical analysis, showcasing bullish trends, robust support, and promising indicators.

Explore more with our thorough insights on MATIC BTC Polygon Technical Analysis — an essential 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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