The crypto space is currently in a phase of consolidation. Following this trend, MATIC prices have nestled around the support bracket of $0.50-$0.52. What lies ahead for MATIC? Will it shoot up to between $0.60-$0.70? Can MATIC recover? Let’s find out in this MATIC price prediction.
What’s happening to Cryptos today?
The crypto realm is currently hovering between a market cap of $1 trillion to $1.2 trillion, with the present standing at $1.03 trillion. This can be interpreted as a sign for prices to climb towards the $1.2 trillion benchmark.
MATIC Price Analysis: Why is MATIC down?
MATIC’s recent valuation is at $0.52. With a market cap of $4.8 billion, its 7-day performance is logged at -1.02%. In contrast, the past day witnessed a positive tick of +0.13%. Like its peers, MATIC’s trajectory is somewhat governed by Bitcoin, which has been in a consolidation phase since Q3 2023.
MATIC Price Prediction: Can MATIC Recover?
MATIC, also known as Polygon, has carved a niche for itself with its scalability solutions for Ethereum. The recent price of $0.52, coupled with a market cap of $4.8 billion, signals a cryptocurrency that has a solid standing in the crypto community. The anticipated surge towards the $0.60-$0.70 bracket isn’t just a reflection of its recent performance. It’s an acknowledgment of MATIC’s critical role in addressing some of Ethereum’s challenges, especially as the latter moves towards ETH 2.0.
Should you Buy MATIC today?
With potential growth on the horizon, procuring MATIC at its present price seems favorable. However, a stop-loss measure would be prudent to counter any abrupt market downturns.
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Source: https://cryptoticker.io/en/matic-price-prediction-can-matic-recover/