Polygon Matic slides down from $0.802 to $0.798 today, losing $0.005 (0.56%).
United States Consumer Confidence is next.
Polygon Matic’s state is reflected by market data as United States Building Permits (Nov) came out at 1.34 million, while a consensus of analysts was expecting 1.49 million. United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -3 million, while the previous figure was 7.82 million. Fresh Housing Starts (Nov) data from United States came out at 1.43 million.
MaticNetwork USD made an initial break below its 200 day Simple Moving Average at $0.795, a possible indication of a forthcoming negative trend. In contrast, Polygon Matic’s upper Bollinger Band® is at $0.984 and the lower is $0.771. Polygon Matic is approaching key support, around 2 cents away from $0.777. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Although price action remains in a stalemate, technical analysis suggests Polygon Matic could be primed for a break to the downside.
While Polygon Matic is pretty flat so far today, mixed performances are seen elsewhere as Dogecoin closed at $0.073 (down 2.12%). Ripple is down to $0.344, losing $0.006, after closing at $0.35 in the preceding trading session. FTX Token retreats 1.91% to trade around $0.919.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of -1.66 million, following on from the preceding figure of 10.23 million. New data is set to be published today at 15:30 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 222,000 from the preceding figure of 211,000. United States Existing Home Sales (Nov) is scheduled for today at 15:00 UTC.
Trending downwards for around a month. Approximately 11 months ago, Polygon Matic reached a significant high of $2.88 but has struggled to hold onto its gains and declined 72.12% since then.