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

Thursday, July 21, 2022 08:57 AM | InvestorsObserver Analysts

Polygon receives a strong long-term technical score of 96 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 96% 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'.

InvestorsObserver is giving Polygon a 96 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

The current trading price of $0.880000000 for MATIC is $0.1000000 (13.42%) above the coins 100-day moving average of $0.780000000. MATIC meanwhile is $0.5600000 (-3133.61%) above its 52-week low of $0.320000000 and -$2.04000000 (-311.84%) 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 96. The price movement and range of MATIC suggest that investors are neutral on the coin at this time. Polygon has a total market value of $7,078,482,785.65 with an high average daily volume of $8,707,317,602.94 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 $1,664,325,803.78 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 96 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).