Will MATIC Price Hit $2.5 Soon?

• Polygon (MATIC) price prediction ranges from $1.5376 to $2.9190
• Analysis suggests that the MATIC price might reach above $2.5 soon.
• The MATIC bearish market price prediction for 2023 is $0.7448.

Polygon is one of the top blockchains in the crypto space. The native token of the Polygon Network is MATIC. Due to its popularity among cryptocurrency users, Polygon (MATIC) has a Weiss crypto rating of B. A recent study in July 2022, shows that the top 100 Ethereum whales have $82.6 million worth of Polygon (MATIC) tokens. In the past 30 days, it has yielded 54.3% profit to its investors.

Polygon investors are bullish on the coin since it is attracting a lot of developers to its blockchain. Investors that hold MATIC have the possibility of receiving interest by staking the token on different cryptocurrency exchanges. The recent crypto winter in the first half of the year has had little effect on investors’ bullish sentiment on Polygon (MATIC).

If you are interested in the future of Polygon (MATIC) and would want to know the price analysis and price prediction of MATIC for 2023, 2024, 2025, 2026, up to 2030, keep reading this Coin Edition article.

Polygon (MATIC) Market Overview

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What is Polygon (MATIC)?

Matic Network which was launched in October 2017, and was rebranded to Polygon in February 2021. It is a Layer-2 solution that is compatible with tokens launched on the Ethereum blockchain. The Polygon blockchain allows developers to build decentralized applications on it.

Polygon Smart Contract framework provides a protocol that solves the scalability challenges that is associated with the Ethereum blockchain. Transactions on the Polygon blockchain can be completed faster and at a lower fee when compared to the Ethereum network. The Polygon native token MATIC is used to pay for transactions.

At present, there are over 135 million unique addresses on the Polygon blockchain and 100 validators. There are 13k Delegators as well as over 2B MATIC staked.

Some of the proof-of-stake (PoS) decentralized applications on the Polygon blockchain include PoS Wallet, PoS Staking, PoS Explorer, PoS Widget, and PoS Bridge. PoS bridge is used to bridge tokens from other blockchains like Ethereum to Polygon blockchain.

Polygon blockchain is compatible with Ethereum Virtual Machine (EVM) and can perform 65,000 transactions per second (TPS).

Matic network was launched on the Ethereum blockchain as an ERC-20 token before it migrated to its mainnet in 2019.

Polygon (MATIC) Current Market Status

The total supply of Polygon (MATIC) is 10 billion while the circulation supply is 8,734,317,475 MATIC coins. At the time of writing, MATIC is trading for $1.13 which represents a 24-hour increase of 1.72%. The trading volume of MATIC in the past 24 hours is $410,270,651 which represents a 27.74% decrease.

Some of the top crypto exchanges for trading Polygon (MATIC) are Binance, Coinbase, Kucoin, FTX, Gate.io, Kraken, Gemini, and others.

Now that you have known what Polygon is and the current market status of MATIC, we shall discuss the price analysis of Polygon (MATIC) for 2023.

Polygon (MATIC) Price Analysis 2023

Currently, MATIC ranks 9th on CoinMarketCap. Will the Polygon blockchain developments such as Polygon Supernets, Polygon Avails, Polygon Zero, Polygon Miden, and Polygon ZkEVM lead to a rising in the price of Polygon? We shall see this in this Coin Edition price analysis 2023 article.

Polygon (MATIC) Price Analysis – Keltner Channel

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility. From the Keltner Channel signals for Polygon (MATIC), it could be seen that the present bearish run could continue since the last candlestick is within the second half of the Keltner channel. However, if the bulls push, MATIC could enter the first half of the Keltner Channel.

Polygon (MATIC) Price Analysis – Relative Strength Index

The Relative Strength Index (RSI) is a technical analysis indicator that measures the relative momentum in the magnitude and speed of recent price changes of an asset to deduce if it is an oversold or overbought asset. The RSI value of Polygon (MATIC) 1-day chart of MATIC/USDT is at 46.36 and is tilting down.  This shows that MATIC is could head into the oversold region. However, the RSI could stay in that region for an extended time perioded or may even go into the overbought region if the bulls take over.

Polygon (MATIC) Price Prediction – Moving Averages

The Polygon chart above shows 200-day and 50-day Moving Average (MA). After a bullish run, MATIC has fallen below the 50-day MA, however, the 200-day MA is holding up the price of MATIC. 

Although MATIC tested the 50-day MA on a couple of occasions, it could not break above it. However, if the bulls give momentum, MATIC could break the 50-day MA in the future.

Polygon (MATIC) Price Prediction 2023

From the chart above, we can observe that the price of Polygon (MATIC) was on a bull run since July. It has been making higher highs and higher lows. If this MATIC continues to fluctuate in this bullish flag it could reach resistance at $1.7251 but if the bears take over, the token could fall to support at $0.7448. 

Meanwhile, our long-term MATIC price prediction for 2023 is bullish since it might break many psychological resistances. We can expect MATIC to reach $2.5 this year.

Polygon (MATIC) Price Prediction – Resistance and Support Levels

This bullish chart shows that the price of MATIC has increased by 1.99% in the last 24 hours. If this price increase continues, MATIC could break the $1.4707 resistance 0 levels and move higher to $1.7890 at the resistance1 level, and even higher. As such MATIC could reach $2.5965 by 2023.

However, if sellers have their way, the price of MATIC might be dethroned from its present uptrend position. In simpler terms, Polygon might break below the $0.7359 support level, and even lower in 2023, if it was to go through a bearish signal.

Polygon (MATIC) Price Prediction 2024

There will be Bitcoin halving in 2024. Hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. Since the Bitcoin trend affects the direction of trade of other cryptocurrencies, we could expect MATIC to trade at a price not below $3.2796 by the end of 2024.

Polygon (MATIC) Price Prediction 2025

We should expect MATIC to trade above its 2024 price due to the possibility of most cryptocurrencies breaking more psychological resistance levels due to the Bitcoin halving of the previous year. Hence, MATIC could end 2025 by trading at around $4.4086

Polygon (MATIC) Price Prediction 2026

Since the maximum supply of MATIC has already been accumulated, it is possible that the bearish market that follows a strong bullish run will have little impact on its previous price due to the entrance of more institutional investors to its platform. With this, the price of MATIC could break the normal trend and trade at $6.2255 by the end of 2026.

Polygon (MATIC) Price Prediction 2027

Investors expect a bullish run next year, 2028, due to Bitcoin halving. Hence, the price of MATIC could consolidate on the previous gains and even break more psychological resistance levels due to investors’ positive sentiment. Hence, MATIC could trade at $8.9267 by the end of 2027.

Polygon (MATIC) Price Prediction 2028

In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. It is, therefore, possible that the market could attain a higher high value. Polygon (MATIC) could hit $9.5229 by the end of 2028

Polygon (MATIC) Price Prediction 2029

By 2029, there could be a lot of stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin halving, could surge the price of MATIC to $11.5118 by the end of 2029.

Polygon (MATIC) Price Prediction 2030

The cryptocurrency market experiences high stability as a result of the hodling activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Polygon (MATIC) to trade around $15.3103 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the previous years.

Polygon (MATIC) Price Prediction 2040 

According to our long-term MATIC price estimate, the token prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $30 by 2040. If the market becomes bullish, the price of MATIC may increase beyond our 2040 forecast.

Polygon (MATIC) Price Prediction 2050

According to our MATIC forecast, the average price of MATIC in 2050 might be above $65. If more investors are drawn to MATIC between these years, the price of MATIC in 2050 could be far higher than our projection.

Conclusion

As said above, MATIC might reach $2.5 in 2023 and $15 by 2030 if investors have decided that Polygon (MATIC) is a good investment along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. CoinEdition and its affiliates will not be held liable for any direct or indirect damage or loss.

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