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Is Polygon (MATIC) Heading the Right Direction Saturday?

Saturday, December 09, 2023 06:20 AM | InvestorsObserver Analysts
Is Polygon (MATIC) Heading the Right Direction Saturday?

Polygon receives an average long-term technical score of 38 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. MATIC currently holds a superior long-term technical analysis score than 38% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

Long-Term Technical - 38
InvestorsObserver is giving Polygon a 38 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Polygon!

Trading Analysis

The current trading price of $0.920000000 for MATIC is $0.2800000 (43.78%) above the coins 100-day moving average of $0.640000000. MATIC meanwhile is $0.4300000 (-2037.67%) above its 52-week low of $0.490000000 and -$0.64000000 (-582.30%) under its 52-week high price of $1.560000000. Polygon's current price relative to the coins long-term average and 52-week high and low, gives the crypto an average long-term technical score of 38. The price movement and range of MATIC suggest that investors are bearish on the coin at this time. Polygon has a total market value of $8,553,396,303.31 with an high average daily volume of $5,274,047,710.69 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, MATIC's volume is below its average with $830,291,759.66 exchanged in total. This coin's subclass Distributed Software Platform: A platform is a decentralized infrastructure designed for a purpose. These can take the form of exchanges for the trading of cryptocurrencies, decentralized data storage, artificial intelligence, virtual or augmented reality, distributed computing and big data collection, among other things.

Summary

Trading patterns over the last year for Polygon leads to the coin's an average long-term technical score of 38 as its consistency, volatility, and relation to long-term averages has given investors reason to be bearish on the coin. Click Here to get the full Report on Polygon (MATIC).

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