- Bullish MATIC price prediction is $0.8604 to $1.8874.
- The MATIC price will also reach $1 soon.
- Bearish MATIC price prediction for 2023 is $0.6644.
In Polygon (MATIC) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about MATIC to analyze the future movement of the cryptocurrency.
Polygon (MATIC) Current Market Status
| Current Price | $0.754980 |
| 24 – hour trading volume | $253,694,923 |
| 24 – hour price change | 3.5% Down |
| Circulating supply | 8,965,469,069 |
| All – Time High | $2.92 (On December 27,2021) |
(source: CoinGecko)
What is Polygon (MATIC)?
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 sidechains that are interoperable and compatible with the Ethereum blockchain.
Polygon (MATIC) Price Prediction 2023
Polygon (MATIC) holds the 10th position on CoinGecko right now. MATIC price prediction 2022 is explained below with a weekly time frame.
The above chart of MATIC laid out the 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.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
Currently, Polygon (MATIC) is in the range of $0.7801. If the pattern continues, the price of MATIC might reach the resistance levels of $0.9502, and $1.1603. If the trend reverses, then the price of MATIC may fall to $0.7811.
Polygon (MATIC) Support and Resistance Levels
The chart below shows the support and resistance levels of Polygon (MATIC).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Polygon (MATIC).
| Resistance Level 1 | $1.0066 |
| Resistance Level 2 | $1.3720 |
| Resistance Level 3 | $1.8874 |
| Support Level | $0.6644 |
The charts show that MATIC has performed a bullish trend over the past month. If this trend continues, MATIC might run along with the bulls overtaking its resistance level at $1.8874.
Accordingly, if the investors turn against the crypto, the price of the MATIC might plummet to almost $0.6644, a bearish signal.
Polygon (MATIC) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Polygon (MATIC) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of MATIC lies below the cutoff line, indicating weak participants in the current trend.
Moreover, the Moving Average (MA) of Polygon (MATIC) is shown in the above chart. Notably, the MATIC price lies below 50 MA (short-term), so it is completely in a downward trend. Currently, MATIC is in a bearish state. There is a possibility of a reversal trend of MATIC at any time.
Meanwhile, the relative strength index (RSI) of the MATIC is at a level of 40.14. This means that MATIC is nearly in an oversold state.
Polygon (MATIC) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Polygon (MATIC). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Polygon (MATIC). Currently, MATIC lies in the range of 32.82, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of Polygon (MATIC). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of MATIC lies below 50, indicating low volatility. In fact, MATIC’s RSI is at 40.14, thus confirming a potential sell signal.
Comparison of MATIC with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Polygon (MATIC).
From the above chart, we can interpret that ETH, BTC, and MATIC appear to move in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and MATIC also increase or decrease respectively.
Polygon (MATIC) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Polygon (MATIC) might probably attain $3 by 2024.
Polygon (MATIC) Price Prediction 2025
With several upgrades in the network, Polygon (MATIC) might enter a bullish trajectory. If the coin grabs the attention of major investors, MATIC might rally to hit $5 by 2025.
Polygon (MATIC) Price Prediction 2026
If Polygon (MATIC) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, MATIC would rally to hit $7.
Polygon (MATIC) Price Prediction 2027
If Polygon (MATIC) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, MATIC would rally to hit $9.
Polygon (MATIC) Price Prediction 2028
If Polygon (MATIC) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, MATIC would rally to hit $11.
Polygon (MATIC) Price Prediction 2029
If Polygon (MATIC) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2029, MATIC would hit $13.
Polygon (MATIC) Price Prediction 2030
If investors flock in and continue to place their bets on Polygon (MATIC), it would witness major spikes. MATIC might hit $15 by 2030.
Conclusion
With continuous improvements in the Polygon network, we can say that 2023 is a good year for MATIC. For this reason, the bullish price prediction of Polygon (MATIC) in 2023 is $1.8874. On the other hand, the bearish price prediction of Polygon (MATIC) for 2022 is $0.6644.
Furthermore, with the advancements and upgrades in the Polygon ecosystem, the performance of Polygon (MATIC) would rise to reach above its new all-time high (ATH) of $2.92 very soon. But, it might also reach $1 if the investors believe that MATIC is a good investment in 2023.
FAQ
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.
Polygon (MATIC) has been listed on many crypto exchanges which include Binance, Digifinex, FMFW.io, Huobi global, Crypto.com, Gate.io, and OKX.
With the ongoing developments and upgrades within the Polygon platform, Polygon (MATIC) has a high possibility of reaching its ATH soon.
On December 27, 2021, Polygon (MATIC) reached its new all-time high (ATH) of $2.92.
Polygon (MATIC) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Polygon in the past few months, MATIC is considered a good investment in 2023.
Polygon (MATIC) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Polygon (MATIC) will hit $1 soon.
Polygon (MATIC) price is expected to reach $3 by 2024.
Polygon (MATIC) price is expected to reach $5 by 2025.
Polygon (MATIC) price is expected to reach $7 by 2026.
Polygon (MATIC) price is expected to reach $9 by 2027.
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.
Source: https://thenewscrypto.com/polygon-matic-price-prediction-2022-will-matic-hit-1-soon/