Polygon Matic has rallied $0.031, or 3.69%, to now stand at $0.871.
United States ADP Nonfarm Employment Change (Nov) is next today at 13:15 UTC.
Polygon Matic upside coincides with further encouraging market factors as highly important Consumer Confidence data from United States beat analyst expectations of 100 with a reading of 100.2.
At the same time, United States API Weekly Crude Oil Stock came out at -7.85 million, while a consensus of analysts was expecting -2.49 million. United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Sep) released yesterday at 14:00 UTC with a figure of 10.4, while the previous figure was 13.1.
Although up today, early price action saw MaticNetwork USD dropping below its 10 day Simple Moving Average at $0.839 — an early indicator that a new downward trend could be emerging. In contrast, Polygon Matic broke through the $0.853 resistance, climbing 2 cents above it.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Polygon Matic is set for a reversal in the coming days.
Other markets are also showing gains as having closed the previous session at $1,217.81, Ethereum is up 4.21% today to currently trade at around $1,269. Having closed the previous session at $0.1, Dogecoin is up 4.16% today to currently trade at around $0.106. Bitcoin gained 2.53% and is currently trading at $16,871.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Pending Home Sales is projected to outperform its last figure with -5%, having previously been at -10.2%. The figure will be published today at 15:00 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -2.76 million. It previously stood at -3.69 million; data will be released today at 15:30 UTC.
Furthermore, the market is looking at United States Core PCE Price Index (MoM) (Oct) is expected tomorrow at 13:30 UTC.
Approximately 11 months ago, Polygon Matic reached a significant high of $2.88 but has struggled to hold onto its gains and declined 70.81% since then.