Polygon (MATIC) Rises 3.11%, Outperforms the Crypto Market Thursday

Thursday, March 17, 2022 06:09 AM | InvestorsObserver Analysts

Polygon (MATIC) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Distributed Software Platform has advanced 3.11% to $1.45.

InvestorsObserver is giving Polygon a 33 Volatility Rank. Find out what this means to you and get the rest of the rankings on Polygon!

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Moderately Volatile

InvestorsObserver gives Polygon a moderate volatility rank of 33, placing it in the bottom 33% of cryptos on the market.

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

Polygon price is trading near resistance. With support around $1.35 and resistance near $1.46. This leaves 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.