With a total market size of $4,891,433,855, Polygon (MATIC) is now ranked 18th on CoinMarketCap’s list. After MATIC’s price rose by 2.45 percent the previous day, its market capitalization grew by that same amount. As a result, MATIC is now placed above Uniswap (UNI) in position 19 and beneath UNUS SED LEO (LEO) in position 17.

At the time of writing, MATIC is trading for $0.6122. This is equivalent to 0.00002852 BTC and 0.000497 ETH, while MATIC likewise had a 3.82 percent decline vs. ETH and a 0.38 percent gain against BTC.

The price of MATIC has climbed by 66.14 percent during the previous seven days when looking at a broader time frame.

1,213,300,763 MATIC were exchanged in the last 24 hours for $742,236,712 on the MATIC 24-hour trading volume. The figure from yesterday has decreased by 39.35%.

MATIC/USDT 4-hour chart
(Source: CoinMarketCap)

The MATIC/USDT 4-hour chart indicates that a price decline may follow the price increase over the last 24 hours. This is mostly due to the 4-hour chart’s Relative Strength Index (RSI) being overbought and sloping adversely toward the RSI SMA.

The 9 EMA line, which served as support throughout MATIC’s spectacular recovery that saw its price rise from $0.350 to its current level, is also getting closer to being reached by the price of MATIC. The price may decline if this level is again ineffective as support.

The price of MATIC has previously dropped to the 9 EMA level. However, the RSI is now significantly overbought. This suggests that this hypothetical test may present a greater challenge for the 9 EMA.

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