Polygon Price Prediction — Will MATIC Hit $2.5 Soon?
- Bullish MATIC price prediction is $1.726 to $2.22.
- The MATIC price will also reach $2.5 soon.
- MATIC bearish market price prediction for 2021 is $0.58.
In Polygon (MATIC) price prediction 2021, we use statistics, price patterns, RSI, RVOL, and much other information about MATIC to analyze the future movement of the cryptocurrency.
MATIC Current Market Status
According to coingecko, the price of MATIC is $1.88 with a 24-hour trading volume of $1,315,213,289 at the time of writing. However, MATIC has increased to 8.6% in the last 24 hours.
Moreover, MATIC has a circulating supply of 6,872,890,164 MATIC. Currently, MATIC trades in cryptocurrency exchanges such as Binance, Mandala Exchange, OKEx, CoinTiger, and Upbit.
What is Polygon (MATIC)?
Polygon is a protocol and framework for creating and linking Ethereum-compatible blockchain platforms. Categorizing scalable Ethereum solutions to support a multi-chain Ethereum ecosystem.
Polygon’s native token MATIC, is an Ethereum token that powers the Polygon Network. Polygon intends to use Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain, to provide faster and cheaper transactions on Ethereum. Polygon is a full-fledged multi-chain system that combines the best of Ethereum and sovereign blockchains.
Polygon (MATIC) Price Prediction 2021
Polygon holds the 18th position on CoinGecko right now. MATIC price prediction 2021 explained below with a daily time frame.
An ascending channel is a pattern formed from two upward trend lines drawn above and below the price indicating the resistance and support levels. This pattern is also called rising channel and channel up. This is a bullish chart pattern defined by a trendline that supports the series of higher lows and a diagonal resistance level that connects the higher highs.
Currently, MATIC is at $1.87. If the pattern continues, the price of MATIC might reach the resistance level to $2.138. If the trend reverses, then the price of MATIC may fall to $0.589.
Polygon (MATIC) Support and Resistance Level
The below chart shows the support and resistance level of MATIC.
From the above daily time frame, it is clear the following are the resistance and support levels of MATIC.
| Resistance Level 1 | $1.726 |
| Resistance Level 2 | $2.222 |
| Resistance Level 3 | $2.692 |
| Support Level 1 | $1.448 |
| Support Level 2 | $1.038 |
| Support Level 3 | $0.674 |
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 $2.692.
Accordingly, if the investors turn against the crypto, the price of the MATIC might plummet to almost $0.674, a bearish signal.
Polygon Price Prediction 2021 — RVOL, MA, and RSI
The Relative Volume (RVOL) of 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. From the start of November to till at the time of writing, RVOL of MATIC lies below the cutoff line, indicating weaker participants in the current trend.
More so, the MATIC’s Moving Average (MA) is shown in the chart above. Currently, MATIC is in a bearish state. Notably, the MATIC price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of MATIC at any time.
Meanwhile, the relative strength index (RSI) of the MATIC is at level 49.99. This means that MATIC is in a nearly oversold state. However, this gives confidence for the traders to trade without any fear.
Polygon Price Prediction 2021 — ADX, RVI
Let us now look at Polygon’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. ADX is a component of the Directional Movement System. This system attempts to measure the strength of price movement in the upward and downward directions using DMI indicators with ADX.
The above chart represents the ADX of Polygon. Currently, MATIC lies in the range at 19.334, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of MATIC. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of MATIC lies below the 50 level, indicating that the direction of volatility is low. In fact, MATIC’s RSI is at the 49.99 level thus confirming a potential sell signal.
Comparison of MATIC with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum and Polygon.
From the above chart, we can identify the trend of the ETH, BTC and MATIC is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and MATIC also increases or decreases respectively.
Conclusion
With continuous improvements in the Polygon network, we can say that 2021 is a good year for MATIC. For this reason, the bullish price prediction of Polygon in 2021 is $2.22. On the other hand, the bearish MATIC price prediction for 2021 is $0.589. Furthermore, with the advancements and upgrades on the MATIC ecosystem, the performance of MATIC would rise reaching $2.138 very soon. But, it might also reach $2.5 if the investors believe that MATIC is a good investment in 2021.
FAQ
Polygon (MATIC) is an Ethereum protocol aimed at “creating, delivering and managing digital securities in blockchain”.
MATIC has listed on many crypto exchanges which include Binance, Mandala Exchange, OKEx, CoinTiger, and Upbit.
With the ongoing developments and upgrades within the MATIC platform, it has a high possibility of reaching its ATH soon.
On May 18, 2021, MATIC reached its new all-time high (ATH) of $2.62.
Polygon seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of MATIC in the past few months, MATIC is considered a good investment in 2021.
Polygon (MATIC) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Polygon (MATIC) will hit $2.5 soon.
Polygon (MATIC) price is expected to reach $5 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 $50 by 2025.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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