Polygon Price Prediction — Will MATIC Hit $3 Soon in 2022?
- Bullish MATIC price prediction is $2.1 to $2.93.
- The MATIC price will also reach $3 soon.
- MATIC bearish market price prediction for 2022 is $0.6.
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.
Polygon is one of the cryptocurrencies whose ecosystem continues to develop. It is considered one of the busiest platforms this year. Moreover, MATIC is one of the altcoins that the investors watch in the crypto space.
Now that we’ve seen the developments of Polygon, will it be a profitable cryptocurrency in 2022? Let’s find out in this Polygon Price Prediction and Price Analysis 2022.
MATIC Current Market Status
According to coingecko, the price of MATIC is $1.62 with a 24-hour trading volume of $1,149,125,918 at the time of writing. However, MATIC has decreased to 1.4% 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, OKX, DigiFinex, Hotcoin 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.
History of Polygon (MATIC)
Polygon Network was created by CEO Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun in October 2017. Furthermore, this project was created after the whitepaper on the Plasma framework was released by Vitalik Buterin and Joseph Poon.
A few months ago, Polygon, formerly Matic Network, became Ethereum’s Internet of Blockchains. Existing Matic products are still in high demand. MATIC tokens are essential for securing and governing the network.
In order to maximize security and network effects, most developers and projects are looking to build scaling solutions in the Ethereum ecosystem. Despite this, they are having difficulty navigating Ethereum’s unstructured scaling landscape and settling implementation issues.
In order to scale faster and reduce growing transaction costs, Polygon Matic announces plans to enhance its support for the Ethereum network. In addition to lowering the high fees on the Ethereum blockchain, Polygon Matic aims to increase scalability in crypto projects and enterprises. The Polygon ecosystem will be structured and provided with a framework that will help it grow further and faster.
Before we dive into the Polygon price prediction 2022, let us have a look at some of the technical aspects of MATIC.
Technical Aspects of Polygon (MATIC)
Polygon Multichain Network’s strength lies in its fraud-proof mechanism. Matic ensures optimal decentralization by implementing PoS at the checkpoint layer and delegating at the block producer layer. Using this mechanism, users can report any suspected fraudulent transactions. Fraudulent transactions are reduced as a result. Aside from the PoS protocol security on the side chains, this mainchain security is also in place.
The Polygon Network also uses state-based sidechains employed by EVM, which are part of the Plasma implementation. These sidechains give the Polygon Network its scalability. By implementing a periodic level of checkpointing, the network permits side chains to operate at high speeds while publishing the checkpoints in batches.
Polygon’s ultimate price objective is layer scaling solutions with decentralization. More so, the expanse is really huge, which will not limit itself to financial decisions transactions/trades but other casual DApps like games.
Polygon was built on the Ethereum mainchain which has the advantage of programming language, developer documentation, and many more are available readily, it need not have to develop everything from the scratch. All-in-all, Polygon Network is generally an EVM-related sidechain.
Polygon Multi-chain Network also outshines its competitors in the payment section. The platform does not require any separate payment ways for users and they only need to have a valid Ethereum address inorder to receive the tokens.
Through Polygon Network users can access the majority of financial decisions service apps such as DEXs, Lending DApps, and many more.
Do you think Polygon will reach new heights soon? Let us look into the Polygon (MATIC) price prediction 2022. Before that let us look into a few factors which influence Polygon price.
Polygon (MATIC) Price Prediction 2022
Polygon holds the 17th position on CoinGecko right now. MATIC price prediction 2022 explained below with a daily time frame.
A descending channel is a pattern formed from two downward trend lines drawn above and below the price indicating the resistance and support levels. It is a bearish pattern defined by a trend line that supports a series of lower lows and a diagonal resistance level that connects low highs.
Currently, MATIC is at $1.62. If the pattern continues, the price of MATIC might reach the resistance level to $2.906. If the trend reverses, then the price of MATIC may fall to $1.298.
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 – $2.14
- Resistance Level 2 – $2.93
- Support Level 1 – $1.423
- Support Level 2 – $1.023
- Support Level 3 – $0.624
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 $2.93.
Accordingly, if the investors turn against the crypto, the price of the MATIC might plummet to almost $0.624, a bearish signal.
Polygon Price Prediction 2022 — 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.Currently, 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 47.62. This means that MATIC is in a nearly oversold 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 15.94, 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 47.62 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.
MATIC Price Prediction for 2023, 2024, 2025 and 2026
With the future developments and upgrades the price of MATIC will reach great heights in the upcoming years.
Polygon (MATIC) Price Prediction 2023 is up to $25
Looking into the future growth of Polygon, the crypto is considered to have a positive impact. The bullish price of Polygon in 2023 is $20.
Polygon (MATIC) Price Prediction 2024 is up to $35
As the upcoming years of Polygon are preceded by the different technological upgrades and events, there will be a bullish trend driving MATIC to continue throughout the year. Thus, there is a high chance of MATIC to reach $35 in 2024.
Polygon (MATIC) Price Prediction 2025 is up to $50
As per Polygon price prediction, the prices can hit the $50 mark in the long-term, but it will take time. Currently, MATIC holds the potential for a significant bullish run in the next few years which depend on technological advancements of the ecosystem of Polygon as well as technical outlook.
Polygon (MATIC) Price Prediction 2026 is up to $65
The Polygon matic price prediction ecosystem is considered to be one of the popular ecosystems in the crypto space with many projects having been developed on it. With the advancements we can see the price of MATIC will hit $55 and mark an all time high of $65 in 2026.
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 $2.9. On the other hand, the bearish MATIC price prediction for 2022 is $0.624.
Furthermore, with the advancements and upgrades on the MATIC ecosystem, the performance of MATIC would rise reaching $2.1 very soon. But, it might also reach $3 if the investors believe that MATIC is a good investment in 2022.
FAQ
1. What is Polygon?
Polygon (MATIC) is an Ethereum protocol aimed at “creating, delivering and managing digital securities in blockchain”.
2. Where can you purchase MATIC?
MATIC has listed on many crypto exchanges which include Binance, OKX, DigiFinex, Hotcoin Global, and FTX.
3. Will MATIC reach a new ATH soon?
With the ongoing developments and upgrades within the MATIC platform, it has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Polygon?
On December 27, 2021, MATIC reached its new all-time high (ATH) of $2.92.
5. Is MATIC a good investment in 2022?
Polygon (MATIC) 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.
6. Can Polygon (MATIC) reach $3?
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 soon.
7. How much will the Polygon price reach by 2023?
As per deep analysis the Polygon (MATIC) price prediction 2023 is up to $5.
8. How much will the Polygon price reach by 2024?
As per deep analysis the Polygon (MATIC) price prediction 2024 is up to $12.
9. How much will the Polygon price reach by 2025?
As per deep analysis the Polygon (MATIC) price prediction 2025 is up to $20.
10. How much will the Polygon price reach by 2026?
As per deep analysis the Polygon (MATIC) price prediction 2025 is up to $50.
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.
Recommended for You
- Polygon (MATIC) Technical Analysis 2021 for Crypto Traders
- Polygon Gained 75,000 New Users and Price Soars Upto 30%
- $50 Million Worth of Matic Tokens, Commits Polygon
- Top 4 Cryptocurrency For Huge Gain in 2021 Explains Lark Davis
- KuCoin Opens Mainnet Version of Transactions for Polygon (MATIC)
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/polygon-matic-price-prediction
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
