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Is Polygon (MATIC) Trending Lower or Higher Tuesday?

Tuesday, January 04, 2022 10:57 AM | InvestorsObserver Analysts
Is Polygon (MATIC) Trending Lower or Higher Tuesday?

Polygon receives a strong long-term technical score of 89 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 89% 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.

Long-Term Technical - 89
InvestorsObserver is giving Polygon a 89 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 $2.480000000 for MATIC is $0.6600000 (36.51%) above the coins 100-day moving average of $1.820000000. MATIC meanwhile is $2.4600000 (-43094.71%) above its 52-week low of $0.020000000 and -$0.44000000 (-257.14%) under its 52-week high price of $2.920000000. Polygon's current price relative to the coins long-term average and 52-week high and low, gives the crypto a strong long-term technical score of 89. The price movement and range of MATIC suggest that investors are neutral on the coin at this time. Polygon has a market capitalization of $17,786,255,452.22 and a relatively high average daily volume with $19,893,343,327.93 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, MATIC's volume is below its seven day average with 1,456,661,088.99 exchanged. 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 a strong long-term technical score of 89 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the coin. Click Here to get the full Report on Polygon (MATIC).

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