Polygon Matic is on a 7 day bullish run gaining $0.312 (27.78%). Today's session so far looks to be heading in the same direction — small gain for Polygon Matic at $1.5 after ranging between $1.44 and $1.5 today.
Although up today, early price action saw MaticNetwork USD dropping below its 3 day Simple Moving Average at $1.49 — an early indicator that a new downward trend could be emerging. First developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In Polygon Matic's case, the RSI has fallen below 30, indicating the asset is oversold. Polygon Matic's upper Bollinger Band® is at $1.54, this is a slight indication of a slowdown. Polygon Matic price action is currently oscillating around the $1.51 resistance level with prices moving above and below several times during the session.
Technical analysis of Polygon Matic price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Polygon Matic shows positive signs, other assets are also on par: having closed the previous session at $0.001, UNICORN Token USD is up 44.84% today to currently trade at around $0.001. FTX Token gained 9.54% and is now trading at $1.36.
The market is looking forward to the release of new data: United States Existing Home Sales (Jan) is scheduled for tomorrow at 15:00 UTC.
Trending positively for about a month. This year has been a bright one for Polygon Matic after trading as low as $0.345 and going on to appreciate by 96.38% year to date.