On a 4 day uptrend, Today's session might suggest a slow down — Polygon Matic recovers back to $0.845 today after dipping down to $0.824, in a session that follows a previous closing value of $0.848.
MaticNetwork USD made an initial break below its 5 day Simple Moving Average at $0.837, a possible indication of a forthcoming negative trend. A "bearish engulfing" pattern — a scenario when a larger red candle engulfs a smaller green candle, at the top of a prevailing uptrend. Typically this is a signal of lower prices in the near term. Despite this, Polygon Matic is currently alternating around $0.82 with price action moving above and below this key level throughout the session.
Despite the market lacking direction, technical chart analysis strongly suggests Polygon Matic is positioned for a downward move in the near term.
While Polygon Matic is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $0.081, Dogecoin is up 10.17% today to currently trade at around $0.09. Litecoin is down to $74.87, losing $3.7, after closing at $78.57 in the preceding trading session.
10 months ago Polygon Matic reached a significant high of $2.88 but has consequently lost 70.52% since then.