After closing at $0.995 today, Polygon Matic began today at $0.995 with significant bullish sentiment driving Polygon Matic’s price action higher. So far today, price action has drawn out a distinct $0.992 to $1 range.
- United States Initial Jobless Claims data will be released today at 13:30 UTC, with an expected decline to 205,000.
- Today’s session seems to be pointing upwards and is building on Polygon Matic’s 3 days of gains (+$0.04).
Earlier data releases related to Polygon Matic – highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000. United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973.
Technical analysis of Polygon Matic before macro data is released:
Despite posting gains so far today, MaticNetwork USD slid below its 5 day Simple Moving Average at $0.992 in earlier trade — an early indicator that a negative trend could be emerging. Polygon Matic’s upper Bollinger Band® is at $1.07, this is a slight indication of a slowdown. Polygon Matic is 2 cents away from testing key resistance at $1. Peaking above this level could inspire market bulls and open the path to further gains.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Polygon Matic is set for a reversal in the coming days.
Coming up for Polygon Matic — United States Core Durable Goods Orders projected to decline to -0.2% while previous data was 0.1%; data will be released today at 13:30 UTC. United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.
As the markets get ready for more data to be released — UNICORN Token USD skyrockets 2,840,500% to trade around $6.57. FTX Token gained 9.54% and is now trading at $1.36. Ripple is down $0.005 from the beginning of the session and now trades around $0.413.
Polygon Matic has gained 30.33% since its lowest print of $0.345 earlier this year.