Polygon (MATIC) Price Prediction 2023 – Will MATIC Hit $5 Soon?

• Bullish MATIC price prediction for 2023 is $1.5848 to $2.4953
• Polygon (MATIC) price might also reach $5 soon.
• Bearish MATIC price prediction for 2023 is $0.6852.

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 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 (MATIC) Price Prediction 2023

Polygon (MATIC) holds the 8th position on CoinGecko right now. MATIC price prediction 2023 is explained below with a daily time frame.

The above chart of Polygon (MATIC) laid out a descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is characteristic of a bearish market.

Currently, Polygon (MATIC) is in the range of $1.22. If the pattern continues, the price of MATIC might reach the resistance levels of $1.2530 and $1.5534. If the trend reverses, then the price of MATIC may fall to $0.9408.

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 Polygon has performed a bullish trend over the past month. If this trend continues, Polygon might run along with the bulls overtaking its resistance level at $1.5848.

Accordingly, if the investors turn against the crypto, the price of the Polygon might plummet to almost $0.6852, a bearish signal.

Polygon (MATIC) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of the 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 the 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 48.09. This means that MATIC is neither in an overbought nor oversold 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 a 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 21.3924, so it indicates a weak 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.

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 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 $10 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 $15 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 $19. 

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 $25. 

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 $31. 

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 $39.

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 $50 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 $1.5848. On the other hand, the bearish price prediction of Polygon (MATIC) for 2023 is $0.6852.

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 $5 if the investors believe that MATIC is a good investment in 2023.

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 purchase Polygon (MATIC)?

Polygon has been listed on many crypto exchanges which include Binance, Digifinex, FMFW.io, Huobi global, Crypto.com, Gate.io, and OKX.

3. Will Polygon (MATIC) reach 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)?

On December 27, 2021, Polygon (MATIC) reached its new all-time high (ATH) of $2.92.

5. Is Polygon (MATIC) a good investment in 2023?

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.

6. Can Polygon (MATIC) reach $5?

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 $5 soon.

7. What will be the Polygon (MATIC) price by 2024?

Polygon (MATIC) price is expected to reach $10 by 2024.

8. What will be the Polygon (MATIC) price by 2025?

Polygon (MATIC) price is expected to reach $15 by 2025.

9. What will be the Polygon (MATIC) price by 2026?

Polygon (MATIC) price is expected to reach $19 by 2026.

10. What will be the Polygon (MATIC) price by 2027?

Polygon (MATIC) price is expected to reach $25 by 2027.

Top Crypto Predictions

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.