Is Polygon (MATIC) Trending Lower or Higher Friday?

Friday, January 14, 2022 12:12 PM | InvestorsObserver Analysts

Polygon receives a strong long-term technical score of 79 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the coin's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, MATIC holds a superior long-term technical analysis score than 79% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover coins that have bottomed out.

InvestorsObserver is giving Polygon a 79 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Polygon!

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Trading Analysis

Polygon's price is $0.3800000 (20.02%) above its 100-day moving average price of $1.920000000 as its price at the moment sits at $2.310000000. Additionally, MATIC is $2.2800000 (-32831.52%) higher than its 52-week low price of $0.030000000 while -$0.62000000 (-263.22%) under its 52-week high of $2.920000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives MATIC a strong long-term technical score of 79. Long-term trading movement of Polygon suggest that investors are neutral on the coin at the moment. Polygon has a total market value of $16,859,586,447.75 with an high average daily volume of $9,683,960,486.85 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 $1,416,709,569.68 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

Technical analysis of Polygon over the past year results in the crypto receiving a a strong long-term technical score of 79 as its price movement in that time has given traders reason to be neutral on the coin in the long-term. Click Here to get the full Report on Polygon (MATIC).