In this Polymesh technical analysis, we will examine the current price action, trading volume, key levels and indicators for POLYX-USDT. Polymesh (POLYX) is a decentralized blockchain platform that enables the creation of interoperable, scalable, and secure applications. By utilizing a novel consensus algorithm called Proof-of-Stake-Byzantine Fault Tolerance (PoS-BFT), Polymesh provides a high level of security and reliability for its users. Additionally, the platform’s modular architecture allows for seamless integration with other blockchain networks, enabling cross-chain communication and collaboration.
Polymesh Price Overview:
As of September 22, 2023, Polymesh is trading at approximately 0.1158 USDT. Let’s dive into the detailed price action for POLYX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.1126 |
| High (H) | 0.1167 |
| Low (L) | 0.1106 |
| Close (C) | 0.1158 |
| Volume (C) | 7,641,034.30 |
- Open (O): The opening price for today’s trading session was approximately 0.1126 USDT.
- High (H): Polymesh reached a daily high of around 0.1167 USDT.
- Low (L): The daily low for POLYX-USDT was approximately 0.1106 USDT.
- Close (C): At the time of analysis, Polymesh is trading near its daily close of 0.1158 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.84% |
| 3D Change (%) | 2.75% |
| 7D Change (%) | 5.95% |
| 30D Change (%) | 4.99% |
| 90D Change (%) | -13.97% |
| YTD Change (%) | 0.70% |
Over the past three days, POLYXUSDT has increased by approximately 2.75%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 5.95%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with POLYXUSDT maintaining an upward trend of approximately 4.99%, despite intermittent fluctuations. Examining the last 90 days, POLYXUSDT has witnessed substantial decline of approximately -13.97%, reflecting strong long-term confidence. Year-to-date, POLYXUSDT has steadily appreciated by around 0.70%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Polymesh Live Chart:
You can access a live price chart for POLYX-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 0.37534.
- Momentum score is 0.04986.
POLYX USDT Technical Analysis
Polymesh Trading Volume:
The trading volume for Polymesh (POLYX) over the past 24 hours has been insignificant, with approximately 7,641,034.30 USDT traded against POLYX. 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): POLYX is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Polymesh is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for POLYX-USDT is currently in the neutral zone, around 50.16492. This suggests that Polymesh is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Polymesh (POLYX-USDT) is currently exhibiting signs of short-term bullish 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 insignificant trading volume are neutral signals for potential sideways movement.
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.
