Polygon Price Prediction – Will MATIC Price Hit $5 in 2021?
- Bullish MATIC price prediction ranges from $2.26 to $2.72.
- MATIC price might also reach $5 this 2021.
- MATIC’s bearish market price prediction for 2021 is $1.48.
This Polygon (MATIC) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with our MATIC price analysis and prediction.
There are many cryptocurrencies that skyrocketed to a new all-time high during this 2021 bull run. In contrast, some crypto also had a decline in price. Therefore, many crypto traders and investors are confused about whether it is time to hold or sell crypto for a good price. For MATIC, the former may be the case.
Moreover, the crypto market is in a bearish movement lately, and most cryptos are losing their previous profits. Is the scenario the same as the MATIC price? We’ll find out shortly in this MATIC price analysis 2021 article. But first, let’s have a look at what MATIC is.
What Is Polygon (MATIC)?
Polygon is the first well-regulated, easy-to-use platform for Ethereum scaling and infrastructure development. Its core element is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.
MATIC, the native token of Polygon, is an ERC-20 token based on the Ethereum blockchain. Moreover, the tokens are utilized for payment services on Polygon and as a settlement currency between users who operate within the Polygon marketplace.
Now that we have an idea about MATIC, do you think MATIC will be profitable crypto in 2021? Or, are you curious to find out? Join me and let us see the charts in this MATIC price analysis and MATIC price prediction.
Polygon (MATIC) Current Market Status
According to CoinMarketCap, MATIC trades at $1.88 with a 24-hour trading volume of $1,283,651,241, as of the time of writing this Polygon price analysis. The price of MATIC has decreased by 4.16% in the last 24 hours.
Furthermore, MATIC has a current circulating supply of 6.78B MATIC. Currently, the top cryptocurrency exchanges for MATIC are Binance, OKEx, FTX, CoinTiger, and Mandala Exchange.
Now, let’s proceed to the next part of this MATIC technical analysis for 2021.
Polygon (MATIC) Price Analysis 2021
Polygon is an Ethereum startup seeking to bring an end to the problems disturbing the Ethereum network. Furthermore, the two significant problems faced by the Ethereum blockchain are high transaction fees and slow transaction time. On the other hand, Polygon seeks to address the low transaction time of Ethereum.
Would the recent development and changes in MATIC’s blockchain help the cryptocurrency price to grow higher? Let’s look at the charts in this MATIC price prediction article.
As shown above, at the beginning of this month, MATIC turned from its bear-to-bull trend. A high volume of trades occurred during this period. Moreover, in the daily time frame, MATIC showed an Ascending Scallop pattern.
Typically, this pattern accompanies an uptrend, but there are some instances when it can change and become a downtrend. In fact, the formation of this pattern in the chart above took place over the past month.
Furthermore, the Relative Strength Index (RSI) is at 64.29, which means that MATIC is already at an overbought state. As a result, this may lead to a price reversal at any given time.
Let us also look down for the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of MATIC.
MATIC is one of the potential cryptocurrencies this year. Since the start of 2021, MATIC’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations and corrections right away. Moreover, some crypto experts predict March will be altcoins season.
Polygon (MATIC) Price Prediction 2021
Currently, MATIC holds 19th place on CoinMarketCap. In fact, MATIC’s price reached an all-time high price of $2.68 on May 18, 2021, after Coinbase Pro listing. More so, it also reached a 24-hour trading volume of over $1,276 million.
Would this market performance be enough for MATIC to maintain its bullish position in 2021? Are you excited to know the results? Well, what are we waiting for? Let’s get to the bottom of it in this MATIC price prediction 2021.
In the short-to-mid term scenario for our MATIC price prediction 2021, MATIC has to break past the retracement level at $2.72. To do this, it has to establish more support at the Fib level at $2.26. If not, bears may gain the upper hand and drag MATIC to their territory.
Meanwhile, our long-term MATIC price prediction for 2021 is bullish. Even more, it has a high possibility of reaching a new all-time high this year. However, that will only happen if it breaks past a number of psychological resistances.
Polygon (MATIC) Price Prediction 2022
If this bullish trend continues, MATIC will reach $7.5 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $8. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $7.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
Polygon (MATIC) Price Prediction 2023
If MATIC holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $12, making it not plummet but play consistently.
Polygon (MATIC) Price Prediction 2024
As per the latest upgrades, developments, MATIC price prediction, and new project forecasts of the platform, MATIC investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of MATIC in the crypto market, and it will be the best investment as the price can spike and reach around $20.
Polygon (MATIC) Price Prediction 2025
In the next four years, MATIC prices could race up to $35. However, reaching this level could not be so difficult for MATIC as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that MATIC has a high possibility of reaching a new ATH soon in the next five years as per the prediction.
MATIC has a bright future ahead of it in 2021. With ongoing developments happening within the MATIC ecosystem, as well as in the overall crypto market, we may see MATIC reach new heights.
Even more, the bullish MATIC price prediction for 2021 is $2.72. As said above, it may even reach a new ATH if investors have decided that MATIC is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin and Ethereum. Moreover, it has a chance to reach $5 in the latter parts of this year as well.
MATIC is an ERC-20 token based on the Ethereum blockchain. However, it seeks to bring an end to the issues that disturb the Ethereum network.
Users can obtain MATIC tokens by purchasing them from cryptocurrency exchanges such as Binance or Huobi Global.
MATIC is a good investment in 2021. However, MATIC has a high possibility of surpassing its current ATH at about $2.68 this year.
Yes, it’s very much possible that MATIC might reach $5 in the near future as per the current bullish trend.
MATIC is considered one of the top-rising cryptocurrencies this year. Also, along with the recorded achievements of MATIC in the past few months, we can say that MATIC is indeed a potentially good crypto to invest in this year.
Polygon (MATIC) price is expected to reach $8 by 2022.
Polygon (MATIC) price is expected to reach $12 by 2023.
Polygon (MATIC) price is expected to reach $20 by 2024.
Polygon (MATIC) price is expected to reach $35 by 2025.
strong>Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.