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10 months ago
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ARTICLE AD BOX
- Bullish MATIC price prediction for 2024 is $0.9585 to $1.5660.
- Polygon (MATIC) price might reach $2 soon.
- Bearish (MATIC) price prediction for 2024 is $0.4480.
In this Polygon (MATIC) price prediction 2024, 2025-2030, we will analyze the price patterns of MATIC by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
POLYGON (MATIC) PRICE PREDICTION 2024 |
|
| POLYGON (MATIC) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Polygon (MATIC) Current Market Status
| Current Price | $0.7754 | 24 – Hour Price Change | 2.19% Down |
| 24 – Hour Trading Volume | $515,098,473 |
| Market Cap | />$7,459,374,515 |
| Circulating Supply | 9,620,270,633 MATIC | All – Time High | $2.92 (On Dec 27, 2021) |
| All – Time Low | $0.003012 (On May 09, 2019) |
What is Polygon (MATIC)
| TICKER | MATIC |
| BLOCKCHAIN | Polygon |
| CATEGORY | Ethereum Scaling Solution |
| LAUNCHED ON | April 2019 |
| UTILITIES | Governance, security, gas fees & rewards |
Polygon (MATIC) is the native cryptocurrency of the Polygon Network. It was launched as an ERC-20 token in 2019. Polygon, formerly known as the MATIC Network, is a layer-2 blockchain that uses a proof-of-stake consensus mechanism.
Polygon (MATIC) serves as the primary payment token and governance token on the Polygon Network. Users use MATIC tokens as transaction fees and also gain voting rights on the network. The core Polygon software development kit (SDK) aids the creation and development of decentralized side chains that are interoperable and compatible with the Ethereum blockchain. Significantly, this Ethereum scaling blockchain is all set to launch its zero-knowledge Ethereum Virtual Machine (zkEVM) in the blockchain ecosystem.
Polygon 24H Technicals
(Source: TradingView)Polygon (MATIC) Price Prediction 2024
Polygon (MATIC) ranks 15th on CoinMarketCap in terms of its market capitalization. The overview of the Polygon price prediction for 2024 is explained below with a daily time frame.
In the above chart, Polygon (MATIC) laid out a Horizontal Channel also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it.
At the time of analysis, the price of Polygon (MATIC) was recorded at $0.7668. If the pattern trend continues, then the price of MATIC might reach the resistance levels of $0.9584, and $1.2468. If the trend reverses, then the price of MATIC may fall to the support of $0.8392, and $0.7367.
Polygon (MATIC) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Polygon (MATIC) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of Polygon (MATIC) for 2024.
| Resistance Level 1 | $0.9585 |
| Resistance Level 2 | $1.5660 |
| Support Level 1 | $0.6580 |
| Support Level 2 | $0.4480 |
Polygon (MATIC) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Polygon (MATIC) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Polygon (MATIC) market in 2024.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $0.8667Price = $0.774 (50MA > Price) | Bearish/Uptrend |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 40.2254 <30 = Oversold 50-70 = Neutral>70 = Overbought | Overbought |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak Volume |
Polygon (MATIC) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Polygon (MATIC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of Polygon (MATIC).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 21.2024 | Strong Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 47.44 <50 = Low >50 = High | Low Volatility |
Comparison of MATIC with BTC, ETH
Let us now compare the price movements of Polygon (MATIC) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of MATIC is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of MATIC also increases or decreases respectively.
Polygon (MATIC) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Polygon (MATIC) between 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| Polygon (MATIC) Price Prediction 2025 | $4 | $1.7 |
| Polygon (MATIC) Price Prediction 2026 | $6 | $3 |
| Polygon (MATIC) Price Prediction 2027 | $9 | $4.2 |
| Polygon (MATIC) Price Prediction 2028 | $10 | $5 |
| Polygon (MATIC) Price Prediction 2029 | $13 | $7 |
| Polygon (MATIC) Price Prediction 2030 | $15 | $8 |
Conclusion
If Polygon (MATIC) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Polygon (MATIC) price prediction for 2024 is $1.5660. Comparatively, if unfavorable sentiment is triggered, the bearish Polygon (MATIC) price prediction for 2024 is $0.4480.
If the market momentum and investors’ sentiment positively elevates, then Polygon (MATIC) might hit $2. Furthermore, with future upgrades and advancements in the Polygon ecosystem, MATIC might surpass its current all-time high (ATH) of $2.92 and mark its new ATH.
FAQ
1. What is Polygon (MATIC)?
Polygon (MATIC) is the native utility token of Polygon, a layer 2 blockchain that is secured by the proof-of-stake (PoS) consensus. It is primarily a payment cryptocurrency and is used as transaction fees on its blockchain.
2. Where can you buy Polygon (MATIC)?
Traders can trade Polygon (MATIC) on the following cryptocurrency exchanges such as Binance, OKX, Cointr Pro, Bybit, and Bitunix.
3. Will Polygon (MATIC) record a new ATH soon?
With the ongoing developments and upgrades within the Polygon platform, Polygon (MATIC) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Polygon (MATIC)?
Polygon (MATIC) hit its current all-time high (ATH) of $2.92 On December 27, 2021
5. What is the lowest price of Polygon (MATIC)?
According to CoinMarketCap, MATIC hit its all-time low (ATL) of $0.003012 on May 10, 2019.
6. Will Polygon (MATIC) hit $2?
If Polygon (MATIC) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $2 soon.
7. What will be the Polygon (MATIC) price by 2025?
Polygon (MATIC) price might reach $4 by 2025.
8. What will be the Polygon (MATIC) price by 2026?
Polygon (MATIC) price might reach $6 by 2026.
9. What will be the Polygon (MATIC) price by 2027?
Polygon (MATIC) price might reach $9 by 2027.
10. What will be the Polygon (MATIC) price by 2028?
Polygon (MATIC) price might reach $10 by 2028.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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