In this Polygon (MATIC) price prediction 2024, 2025-2030, we will analyze the price patterns of MATIC by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Polygon (MATIC) Current Market Status/h2
MATIC Current Market Status (Source: CoinMarketCap)h2 What is Polygon (MATIC)/h2
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.
h2 Polygon 24H Technicals/h2
(Source: TradingView)
h2 Polygon (MATIC) Price Prediction 2024/h2
Polygon (MATIC) ranks 18th on CoinMarketCap in terms of its market capitalization. The overview of the Polygon price prediction for 2024 is explained below with a daily time frame.
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In the above chart, Polygon (MATIC) laid out a 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.
At the time of analysis, the price of Polygon (MATIC) was recorded at $0.6472. If the pattern trend continues, then the price of MATIC might reach the resistance levels of $1.0625, and $1.5237. If the trend reverses, then the price of MATIC may fall to the support of $0.8401, and $0.7537.
h2 Polygon (MATIC) Resistance and Support Levels/h2
The chart given below elucidates the possible resistance and support levels of Polygon (MATIC) in 2024.
MATIC/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Polygon (MATIC) for 2024.
MATIC Resistance & Support Levelsh2 Polygon (MATIC) Price Prediction 2024 — RVOL, MA, and RSI/h2
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Polygon (MATIC) are shown in the chart below.
MATIC/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Polygon (MATIC) market in 2024.
In the below chart, we analyze the strength and volatility of Polygon (MATIC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
MATIC/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Polygon (MATIC).
Comparison of MATIC with BTC, ETH/h2
Let us now compare the price movements of Polygon (MATIC) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs MATIC Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of MATIC is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of MATIC also increases or decreases respectively.
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Polygon (MATIC) between 2025, 2026, 2027, 2028, 2029, and 2030.
h2 Conclusion/h2
If Polygon (MATIC) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Polygon (MATIC) price prediction for 2024 is $1.6769. Comparatively, if unfavorable sentiment is triggered, the bearish Polygon (MATIC) price prediction for 2024 is $0.7182.
If the market momentum and investors’ sentiment positively elevate, then Polygon (MATIC) might hit $2. Furthermore, with future upgrades and advancements in the Polygon ecosystem, MATIC might surpass its current all-time high (ATH) of $2.92 and mark its new ATH.
This content was originally published by our partners at The News Crypto .
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The News Crypto
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