Polygon (MATIC) on Sunday 03-Jul moved lower with -6.27% lower to 0.46.
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Performance after Sunday 03-Jul
Period Pct Chg Momentum
Sunday -6.27% -0.0309
Week ending 2022-07-03 -17.33% -0.0969
July -4.47% -0.0215

Polygon Analysis

Polygon (MATICUSDT) price for the week ending 2022-07-03 dropped -17.33% or -0.0969 lower to 0.45930. At time of writing into Monday’s trading session, Polygon has decreased by -4.97% over the past 24 hours. For the record, Polygon is -84.27% below all-time high of 2.92. On Sunday, MATIC dropped -6.27% to 0.46.

On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling, our analysis is that there could be selling pressure as the outlook looks bearish.

For the month-to-date, MATIC is down by -4.47% or -0.0215 lower.

What can we expect from Polygon today?

Looking ahead on Monday, we are looking at 0.49630 or 0.48783 (R1) as important resistance levels and daily low of 0.44910 and 0.44273 (S1) as key support levels. Polygon need to break on either side to indicate a short-term bias. A close below 0.44910 would indicate selling pressure.

For the week ending 2022-07-03, take note that Polygon is falling as the pair posted lower, down by -17.33%. Prior performance for the week ending 2022-06-26 was 45.57%.

Key levels to watch out:

R3 0.53293
R2 0.51357
R1 0.48783
Daily Pivot 0.46847
S1 0.44273
S2 0.42337
S3 0.39763

Last updated: 02:30 am UTC, 04-Jul 2022

About Polygon

Polygon (Previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.Using Polygon, one can create Optimistic Rollup chains, ZK Rollup chains, stand alone chains or any other kind of infra required by the developer.Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc with the advantages of Ethereum’s security, vibrant ecosystem and openness.Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.

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