Key Takeaways
- Current Price: MATIC faces bullish pressure toward $0.44.
- Short-Term Prediction: The price of MATIC is expected to surge toward $1.03 by 2024.
- Long-Term Outlook: By 2030, MATIC could potentially reach a maximum price of $10.51.
Overview
| Cryptocurrency: | Polygon |
| Ticker Symbol: | MATIC |
| Rank: | 12 |
| Price: | $0.44 |
| Price Change (24H): | +1.7% |
| Market Cap: | $7,240,424,326 |
| Circulating Supply: | 9,899,469,069.28 MATIC |
| Trading Volume (24H): | $210M |
| All-Time High: | $2.92 |
| All-Time Low: | $0.003012 |
MATIC Price Prediction: Technical Analysis
Current Technical Metrics
| Current Price: | $0.44 |
| Price Prediction: | $0.464807 (13.29% increase) |
| Fear & Greed Index: | 26 (Fear) |
| Sentiment: | Bearish |
| Volatility: | 10.57% |
| Green Days: | 15/30 (50%) |
| 50-Day SMA: | $0.474523 |
| 200-Day SMA: | $0.706306 |
| 14-Day RSI: | 40.71 |
MATIC Price Analysis: 13 September Update
MATIC is currently facing bullish pressure at $0.44. The resistance level for MATIC is at $0.4431, while support is found at $0.3536. A recent analysis shows that MATIC bulls are aiming to push the price above key Fibonacci channels.
MATIC Price Analysis: 1-Day Chart
The 1-day chart reveals a recent bullish rally with MATIC surging toward $0.44. Over the past 24 hours, trading volume increased to $54.3K, indicating growing investor interest. The RSI-14 has risen to around 51, suggesting that bullish momentum is building. The SMA-14 indicates potential upward volatility in the near term.
MATIC Price Analysis: 4-Hour Chart
On the 4-hour chart, MATIC is showing continued bullish activity around the EMA lines. The price is facing resistance near the immediate Fibonacci levels, with bulls aiming to maintain the price above the EMA200 line. The Balance of Power (BoP) indicator is positive at 0.3, and the MACD trend line shows green candles above the signal line, indicating strong buying momentum.
Technical Indicators
Daily Simple Moving Average (SMA)
| SMA 3: | $0.388232 (BUY) |
| SMA 5: | $0.396388 (BUY) |
| SMA 10: | $0.44515 (SELL) |
| SMA 21: | $0.458333 (SELL) |
| SMA 50: | $0.474523 (SELL) |
| SMA 100: | $0.539823 (SELL) |
| SMA 200: | $0.706306 (SELL) |
Daily Exponential Moving Average (EMA)
| EMA 3: | $0.448894 (SELL) |
| EMA 5: | $0.441496 (SELL) |
| EMA 10: | $0.433238 (SELL) |
| EMA 21: | $0.440436 (SELL) |
| EMA 50: | $0.482783 (SELL) |
| EMA 100: | $0.556128 (SELL) |
| EMA 200: | $0.646801 (SELL) |
Future Price Predictions
What to Expect Next
The hourly price chart indicates that bears are attempting to prevent an immediate surge. If MATIC successfully breaks above $0.4431, it could potentially rise to $0.5397. Conversely, if the bulls fail to gain traction, MATIC might drop below $0.3536, with a possible correction to $0.2899.
Investment Potential
MATIC holds potential as a long-term investment, especially with the upcoming Polygon 2.0 update and ongoing partnerships with major brands like Starbucks, Adidas, Prada, and Disney. The project’s expansion into NFT solutions and Ethereum scalability further enhances its investment appeal.
Short-Term Challenges
Recent market sentiment has caused MATIC’s price to drop to $0.4. This decline is attributed to the overall bearish sentiment in the crypto market. However, if buyers can defend against this trend, MATIC could rebound above $0.5.
Will MATIC Price Touch $1?
Yes, MATIC’s price might touch the $1 milestone by the end of 2024. However, this prediction is contingent upon future market sentiment and buying demand.
Will MATIC Price Reach $10?
If market conditions remain favorable and MATIC gains regulatory recognition, its price might surpass $10 by 2030.
Is MATIC a Good Long-Term Investment?
As Polygon continues to expand its offerings, it strengthens its position in the altcoin market. Therefore, MATIC could be a solid long-term investment option.
Recent News and Opinions on MATIC
- Polygon has recently achieved a new all-time high (ATH) in daily active addresses, indicating ongoing adoption of the network.
MATIC Price Prediction for September 2024
The Bitcoin halving event did not significantly impact the prices of several altcoins, including MATIC. Despite the Polygon 2.0 update, MATIC’s price continues to struggle to regain momentum above the $1 mark.
However, analysts anticipate a gradual increase in crypto market prices following a bearish August. For September, MATIC is expected to have:
| Potential Low | Potential Average | Potential High |
|---|---|---|
| $0.38 | $0.50 | $0.61 |
MATIC Price Prediction for 2024
Following the Bitcoin halving in April, analysts are optimistic about a bull market in 2024, especially with institutions pursuing Bitcoin spot ETF approvals. This could drive an upward trend for Polygon, though regulatory uncertainties might impact its growth, as seen with XRP’s previous SEC lawsuit.
Despite potential regulatory concerns, MATIC’s role within Polygon’s ecosystem may classify it as a currency or commodity rather than a security. Polygon’s significant enterprise adoption, with companies like Starbucks, Nike, Reddit, and Facebook using its network, could fuel bullish momentum in 2024.
Based on technical analysis of historical price data, we anticipate the following range for MATIC in 2024:
| Potential Low | Potential Average | Potential High |
|---|---|---|
| $0.9012 | $0.9298 | $1.03 |
MATIC Price Predictions for 2025-2030
| Year | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| 2025 | $1.34 | $1.39 | $1.57 |
| 2026 | $2.07 | $2.12 | $2.39 |
| 2027 | $3.03 | $3.11 | $3.60 |
| 2028 | $4.28 | $4.43 | $5.36 |
| 2029 | $6.08 | $6.26 | $7.41 |
| 2030 | $8.93 | $9.18 | $10.51 |
MATIC Price Predictions by Experts
| Firm Name | 2024 | 2025 |
|---|---|---|
| Coincodex | $2.24 | $3.56 |
| Digital Coin Price | $1.72 | $2.84 |
| Changelly | $1.38 | $2.01 |
Cryptopolitan’s MATIC Price Prediction
Cryptopolitan remains optimistic about MATIC’s market potential. We anticipate Polygon’s price in 2024 to range from a minimum of $0.9012 to a maximum of $1.03, with an average trading price around $0.9298.
Future market sentiment will be influenced by factors such as SEC regulations, global regulations, and investor interest.
MATIC Historic Price Sentiment
MATIC debuted in 2019 at a value below one cent and maintained around $0.02 for the next two years. The transformation to Polygon in 2021 led to significant growth, surpassing $1 in May 2021 and peaking above $2. It reached an all-time high of $2.92 on December 27, 2021. However, 2022 saw struggles, with the price dipping below $1 in May and experiencing several crashes throughout the year. By December 2022, it closed at $0.7585, reflecting a 70% decline.
In 2023, Polygon showed mixed performance, breaking the $1 threshold in February but facing setbacks. It reached a high of $0.8775 in July but fell to $0.4946 in September. The price rebounded to $0.9789 in November. As of January 16, 2024, Polygon was trading around $0.8514, with fluctuations throughout the year including a high of $1.4 in March, followed by a decline to below $0.8 in April and May, and consolidating between $0.4-$0.6 in August.
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