Polygon (MATIC), Low Volatility but Falling Wednesday: Is it Time to Cash Out?

Wednesday, January 05, 2022 11:05 AM | InvestorsObserver Analysts

Polygon (MATIC) has been relatively less volatile compared to the crypto market. So far Wednesday, the Distributed Software Platform has declined 3.49% to $2.39.

InvestorsObserver is giving Polygon a 24 Volatility Rank. Find out what this means to you and get the rest of the rankings on Polygon!

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Low Volatility

InvestorsObserver gives Polygon a low volatility rank of 24, placing it in the bottom 24% of cryptos on the market.

The Volatility Gauge follows this makes its score defined by recent trends, rather than a bad day. MATIC's low volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Polygon price is trading near resistance. With support around $2.28 and resistance set at $2.42. This positions Polygon with potential selling pressures ahead as it may be getting over extended.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.