Polygon (MATIC) Up 2.24% Thursday: What's Next?

Thursday, April 21, 2022 12:26 PM | 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 increased 2.24% to $1.44.

InvestorsObserver is giving Polygon a 25 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 25, placing it in the bottom 25% of cryptos on the market.

The Volatility Gauge follows meaning that one day won't make or break its rank. MATIC's moderate volatility reading pairs 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 near $1.39 and resistance around $1.45. 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.