Polygon (MATIC): Does it Score Well on Long-Term Trading Metrics Saturday?

Saturday, January 28, 2023 06:12 PM | InvestorsObserver Analysts

InvestorsObserver gives Polygon a strong long-term technical score of 68 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the coin's support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it's a strong buy-and-hold investment opportunity currently for traders. MATIC at this time has a superior long-term technical analysis score than 68% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover coins that have bottomed out.

InvestorsObserver is giving Polygon a 68 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Polygon!

See Full Report

Trading Analysis

MATIC is currently $0.2400000 (26.76%) above its 100-day moving average price of $0.900000000 with its current price of $1.140000000. Meanwhile, Polygon is $0.8200000 (-3054.47%) above its 52-week low price of $0.320000000 and -$0.94000000 (-426.87%) below its 52-week high of $2.080000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 68. Trends for the long-term trading history of Polygon suggest that traders are currently neutral on the coin. Polygon has a market capitalization of $9,953,014,443.79 and a relatively high average daily volume with $6,475,483,379.21 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 633,293,279.74 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

Technical analysis of Polygon over the past year results in the crypto receiving a a strong long-term technical score of 68 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).