Polygon (MATIC) Price Prediction 2023 – Will MATIC Hit $3 Soon?

• Bullish MATIC price prediction is $1.0121 to $1.8839.
• The MATIC price will also reach $3 soon.
• Bearish MATIC price prediction for 2023 is $0.6681.

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

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 an ascending broadening wedge pattern. In general, an ascending broadening formation looks like an inverted triangle. It represents market volatility, with buyers attempting to maintain control and sellers attempting to seize control. It is a bearish reversal pattern that appears during an uptrend. The price fluctuates between the upper resistance line and the lower support line in an ascending wedge pattern.

The price makes a low and then rises in an ascending broadening wedge structure. Traders then watch the price movement as it records higher highs and lower lows within a range. The peaks and throughs are then joined to form the upper and lower limit lines.

To confirm the pattern, the price must touch both the upper and lower trend lines three times in an uptrend movement, with the resistance line rising higher than the bottom line.

Currently, Polygon (MATIC) is in the range of $1.09. If the pattern continues, the price of MATIC might reach the resistance levels of $1.0511 and $1.4408. If the trend reverses, then the price of MATIC may fall to $0.7501.

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).

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 $1.8839.

Accordingly, if the investors turn against the crypto, the price of the MATIC might plummet to almost $0.6681, 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 above 50 MA (short-term), so it is completely in an upward trend. Currently, MATIC is in a bullish 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 65.28. This means that MATIC is nearly in an overbought state. However, this means a major price reversal of MATIC may occur in the upcoming days. So, traders need to trade carefully. 

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 46.5209, 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 above 50, indicating high volatility. In fact, MATIC’s RSI is at 65.28, thus confirming a potential buy 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 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Polygon (MATIC) between 2024 and 2030.

Polygon (MATIC) Price Prediction 2024

If the declining price action completely slows down in momentum and the trend reverses,  Polygon (MATIC) might probably attain $6 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 $8 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 $10.5.  

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 $13. 

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 $15. 

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 $19.

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 $22 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 $1.8839. On the other hand, the bearish price prediction of Polygon (MATIC) for 2023 is $0.6681.

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 $3 if the investors believe that MATIC is a good investment in 2023.

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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.