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Check here for MATIC Price in EUR (€).

About Polygon (formerly Matic network):

Polygon, previously known as Matic Network is the Ethereum scaling solution. Using Polygon, developers can easily connect Ethereum-compatible blockchain apps into its network to meet the rising scaling demand.

Developers can choose either Layer-2 or Sidechain solution to match their in-app demand. $MATIC token will continue to exist and will play an important role in securing the system and enabling governance.

Helpful technical indicators to study Polygon MATIC USD price movement:

Technical Analysis through the use of charts or volume helps to forecast future Polygon - MATIC USD price trends, however, do remember always that analysis can’t make absolute predictions about the future. Therefore, trade with caution.
The following are some of the technical indicators which could be useful for anticipating the most likely Polygon - MATIC/USD price momentum.

Moving average convergence divergence (MACD)

MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of that calculation is the MACD line. A nine-day EMA of the MACD called the “signal line” is then plotted in addition to the MACD line which together functions as a trigger for buying or selling an asset – Polygon (MATIC).

Traders may buy Polygon (MATIC) when the MACD crosses above its signal line (orange line) and sell, or short, the Polygon MATIC cryptocurrency when the MACD (blue line) crosses below the signal line.

Another MACD strategy is to look at which side of zero the MACD lines are. Potential buy signals occur when the MACD moves above zero, and potential sell signals when it crosses below zero – Above zero for a sustained period of time, and the trend is likely up or Below zero for a sustained period of time, and the trend is likely down.

Relative Strength Index (RSI)

RSI is an indicator that evaluates overbought or oversold conditions in the price of an asset. The RSI is a line graph that moves between two extremes and has a reading from 0 to 100. Traditional usage of the RSI is that:

• RSI values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience correction in the asset – Polygon MATIC USD price.
• An RSI reading of 30 or below indicates an oversold or undervalued condition.

Moving average (MA)

MA is the average of the closing USD price of an asset – Polygon MATIC over a given number of periods. The 200-day simple moving average is one of the most-watched activities in the price charts by mostly all experienced traders. There are two basic signals in relation to the moving average:

• If the price is above the X day SMA, this signals a bullish movement.
• If the price is below the X day SMA, this signals a bearish movement.

MA(50,200) Crossover

Another important signal is a crossover between the 50-day and the 200-day moving averages.

• When the 50-day Moving Average (MA) crosses above the 200-day MA, it is called a golden cross and it signals that a new bullish Polygon MATIC USD price trend is starting.
• When the 50-day MA crosses below the 200-day MA, it is known as the death cross. This is a sign that a bear market may be starting.

On-balance volume (OBV)

OBV is another technical trading momentum indicator that uses volume flow to predict changes in the stock price. A rising price should be accompanied by a rising OBV; a falling price should be accompanied by a falling OBV.

• If OBV is rising and the price isn’t, then the price is likely to follow the OBV.
• In case the Polygon token - MATIC USD price is rising and OBV is flat-lining or falling, the price may be near the top.
• If the Polygon MATIC USD price is falling and OBV is flat-lining or rising, the price could be nearing the bottom.

Chart Patterns

• Head and Shoulders
• Cup and Handle (bullish)
• Triangles (Symmetrical, Ascending and Descending)
• Double top and bottom [M (bearish) and W (bullish)]
• Triple Tops (bearish) & Bottoms (bullish)