Polygon Price Prediction — Will MATIC Hit $3.5 Soon?
- Bullish MATIC price prediction is $2.723 to $3.443.
- The MATIC price will also reach $3.5 soon.
- MATIC bearish market price prediction for 2022 is $1.008.
In Polygon (MATIC) price prediction 2022, 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 $2.82 with a 24-hour trading volume of $2,447,400,467 at the time of writing. However, MATIC has increased to 8.4% 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, OKEx, CoinTiger, Huobi Global, and FTX..
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 2022
Polygon holds the 14th position on CoinGecko right now. MATIC price prediction 2022 explained below with a four hour 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 $2.554. If the pattern continues, the price of MATIC might reach the resistance level to $2.723. If the trend reverses, then the price of MATIC may fall to $1.73.
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 – $2.728
- Resistance Level 2 – $3.443
- Support Level 1 – $2.208
- Support Level 2 – $1.451
- Support Level 3 – $1.008
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 $3.443.
Accordingly, if the investors turn against the crypto, the price of the MATIC might plummet to almost $1.008, a bearish signal.
Polygon Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of MATIC 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, RVOL of MATIC lies below the cutoff line, indicating weaker participants in the current trend.
More so, the MATIC’s Moving Average (MA) shown in the chart above. Currently, MATIC is in a bullish state. Notably, the MATIC price lies above 50 MA (short-term), so it is completely in an upward 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 63.29. This means that MATIC is in a nearly overbought state. However, this means a major price reversal of LUNA may occur in the upcoming days.
Polygon Price Prediction 2022 — 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 11.251, 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 above the 50 level, indicating that the direction of volatility is high. In fact, MATIC’s RSI is at the 63.29 level thus confirming a potential buy 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 and BTC is moving at the downward trend. But, the recent trend of MATIC moves in an upward direction.
Conclusion
With continuous improvements in the Polygon network, we can say that 2022 is a good year for MATIC. For this reason, the bullish price prediction of Polygon in 2022 is $3.443. On the other hand, the bearish MATIC price prediction for 2022 is $1.008.
Furthermore, with the advancements and upgrades on the MATIC ecosystem, the performance of MATIC would rise reaching $2.7 very soon. But, it might also reach $3.5 if the investors believe that MATIC is a good investment in 2022.
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, OKEx, CoinTiger, Huobi Global, and FTX.
With the ongoing developments and upgrades within the MATIC platform, it has a high possibility of reaching its ATH soon.
On Dec 26, 2021, MATIC reached its new all-time high (ATH) of $2.86.
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 2022.
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 $3.5 soon.
Polygon (MATIC) price is expected to reach $5 by 2023.
Polygon (MATIC) price is expected to reach $12 by 2024.
Polygon (MATIC) price is expected to reach $20 by 2025.
Polygon (MATIC) price is expected to reach $50 by 2026.
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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