Polygon (MATIC) Price Prediction 2023-2030: Will MATIC Price Hit $2.5 Soon?

• Bullish Polygon (MATIC)price prediction ranges from $0.7 to $2.
• Analysis suggests that the Polygon price might reach above $1.7.
• The Polygon bearish market price prediction for 2023 is $0.339.

Polygon is one of the top blockchains in the crypto space. The native token of the Polygon Network is MATIC. Due to its popularity among cryptocurrency users, Polygon (MATIC) has a Weiss crypto rating of B. A recent study in July 2022, shows that the top 100 Ethereum whales have $82.6 million worth of Polygon (MATIC) tokens. In the past 30 days, it has yielded 54.3% profit to its investors.

Polygon investors are bullish on the coin since it is attracting a lot of developers to its blockchain. Investors that hold MATIC have the possibility of receiving interest by staking the token on different cryptocurrency exchanges. The recent crypto winter in the first half of the year has had little effect on investors’ bullish sentiment on Polygon (MATIC).

If you are interested in the future of Polygon (MATIC) and would want to know the price analysis and price prediction of MATIC for 2023, 2024, 2025, 2026, up to 2030, keep reading this Coin Edition article.

Polygon (MATIC) Market Overview

What is Polygon (MATIC)?

Matic Network which was launched in October 2017, and was rebranded to Polygon in February 2021. It is a Layer-2 solution that is compatible with tokens launched on the Ethereum blockchain. The Polygon blockchain allows developers to build decentralized applications on it.

Polygon Smart Contract framework provides a protocol that solves the scalability challenges that is associated with the Ethereum blockchain. Transactions on the Polygon blockchain can be completed faster and at a lower fee when compared to the Ethereum network. The Polygon native token MATIC is used to pay for transactions.

At present, there are over 135 million unique addresses on the Polygon blockchain and 100 validators. There are 13k Delegators as well as over 2B MATIC staked.

Some of the proof-of-stake (PoS) decentralized applications on the Polygon blockchain include PoS Wallet, PoS Staking, PoS Explorer, PoS Widget, and PoS Bridge. PoS bridge is used to bridge tokens from other blockchains like Ethereum to Polygon blockchain.

Polygon blockchain is compatible with Ethereum Virtual Machine (EVM) and can perform 65,000 transactions per second (TPS).

Matic network was launched on the Ethereum blockchain as an ERC-20 token before it migrated to its mainnet in 2019.

Polygon (MATIC) Current Market Status

The maximum supply of Polygon (MATIC) is 10,000,000,000 MATIC, while its circulating supply is 9,319,469,069 MATIC, according to CoinMarketCap. At the time of writing, Polygon is trading at $0.5565 representing 24 hours increase of 2.25%. The trading volume of Polygon in the past 24 hours is $226,291,674 which represents a 25% decrease.

Some top cryptocurrency exchanges for trading Polygon are Binance, Coinbase Pro, Huobi Global and KuCoin.

Now that you know Polygon and its current market status, we shall discuss the price analysis of  Polygon (MATIC )for 2023.

Polygon (MATIC) Price Analysis 2023

Will the Polygon blockchain’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the payment and crypto industry affect MATIC’s sentiment over time? Read more to find out about MATIC’s 2023 price analysis.

Polygon (MATIC) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average.

When looking at the chart above, we can see that since February 2023, MATIC has been crashing. It became stable only in late June 2023. Moreover, currently, we can see that MATIC is rising towards the Simple Moving Average. If this movement continues, then, there is a chance that MATIC could reach the upper band. However, when looking at the chart closely we can see that the buying pressure is dwindling. Hence, there is a chance that MATIC’s motion may be barred.

When looking at the longer timeframe for MATIC, we can see that right now it is on a downtrend. Since the beginning of 2022, MATIC has been moving sideways with very little vertical movements. Additionally, the Bollinger band width indicator has moved below the signal and it records a value of 18.42% and it seems to be climbing upwards. Since the buyers and sellers have been dormant for quite some time, we might see them get into action very shortly. 

Polygon (MATIC) Price Analysis – Relative Strength Index 

The Relative Strength Index is an indicator that is used to measure whether the price of a cryptocurrency is over or undervalued. For this purpose, it has two extreme regions known as the overbought and oversold regions. 

When the RSI reads a value (>70) then the crypto is overbought, which means that due to more buying the demand has increased as such the price has also increased. On the other hand, when it is oversold, many are selling, as such, its price is undervalued.

When looking at the chart above, we can see that after every drop MATIC tried to either consolidate or rise. However, it was able to register higher highs but lower highs since February 2023. The RSI for MATIC reads a value of 39 and is moving sideways. When the buyers step in the market would activate and the RSI value could rise. 

The chart above shows how the RSI divergence has entered into a bull market as labeled. The RSI reads a value of 38 and it keeps rising. This could be the start of the next bull market and we could expect the RSI divergence to keep rising. However, there is also the possibility of the RSI Divergence line moving sideways, as there could be consolidation.  

Polygon (MATIC) Price Analysis – Moving Average 

The exponential moving average is not much different from the simple moving average. The EMA gives more weightage to the present prices while the SMA equally distributes the values to the frequency. Hence, when the EMA is plotted in the graph it gives a rough idea about how the cryptocurrency has been performing in the past. 

Moreover, the 50-day EMA is considered the short-term length, and the 200-day EMA is considered the long-term.  Whenever the 50-day EMA crosses the 200-day EMA from below it is called a Golden cross, while if it crosses from above, then it is a death cross. However, in this case, we will be using the 50-day EMA as the long-term length and the 10-day EMA as the short-term length. 

Since midweek of April Polygon has been bearish. We could see it by the EMAs which are moving downwards. Moreover, MATIC is under both EMAs, as such, it is bearish. Furthermore, we can see MATIC rising towards the 50-day EMA, and if this motion continues, there is a high chance that MATIC could test the 50-day EMA. 

Polygon (MATIC) Price Prediction 2023-2030 Overview

Polygon (MATIC) Price Prediction 2023

When considering the chart above, we can see that MATIC has been trading inside a falling wedge since December 2022. It has been making lower highs and lower lows. Moreover, if MATIC breaks from the falling wedge in a conventional way then there is a possibility that MATIC could reach $1.3. However, if this resistance level is broken, then, Polygon could even reach $1.71. The above thesis is from the fact that there is a lot of trading happening in the high-value area. However, in the unlikely event that MATIC crashes, there is a possibility that it could land at $0.339 and may even fall further if the bears keep control over Polygon. 

When looking at the longer timeframe of MATIC, it can be seen that it is currently trading inside a bearish pennant. As such, if Polygon breaks out from this pennant, there is a high chance that it could crash to $0.0138. However, this price at which MATIC is right is also a place where there was a great spike back in 2021. Hence, this could be also possible. In the event that MATIC spikes, it could reach $2.7 as shown in the chart. 

Polygon (MATIC) Price Prediction – Resistance and Support Levels

When considering the chart above we could see that MATIC was increasing in value until late December 2022. However, come 2023 the token started to fall. It fell just below the 2:1 Gann line and reached for support at 8:1. Since receiving support from the 8:1 Gann line MATIC seems to have gained some momentum as it is rising and has reached the 3:1 gann line. Nonetheless, currently, MATIC is testing the 8:1 Gann line it may break and move above it. 

Polygon (MATIC) Price Prediction 2024

There will be Bitcoin halving in 2024. Hence, we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. However, the year of BTC halving didn’t yield the maximum for Polygon based on the previous halving. Hence, we could expect Polygon to trade at a price, not below $2.20 by the end of 2024.

Polygon (MATIC) Price Prediction 2025

Polygon may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, Polygon will continue to rise in 2025 forming new resistance levels. It is expected that Polygon will trade beyond the $5 level.

Polygon (MATIC) Price Prediction 2026

It is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, Polygon could tumble into its support regions. During this period of price correction, Polygon could lose momentum and be way below its 2025 price. As such, it could be trading at $5.3 by 2026. 

Polygon (MATIC) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, there’ll be a dip in price before the excitement will be reciprocated in EOS. As such, we could expect Polygon to trade at around $3.3 by the end of 2027.

Polygon (MATIC) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, Polygon  may reciprocate its past behavior during the BTC halving. Hence, Polygon would be trading at $3.5 after experiencing a considerable surge by the end of 2028. 

Polygon (MATIC) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment, Polygon could be trading at $6.25 by the end of 2029.

Polygon (MATIC) Price Prediction 2030

After witnessing a bullish run in the market, Polygon and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, Polygon could be trading at $5.97.

Polygon (MATIC) Price Prediction 2040 

The long-term forecast for Polygon indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. 

If they start selling then Polygon could fall in value. It is expected that the average price of Polygon could reach $10.16 by 2040.

Polygon (MATIC) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such Polygon could reach $13.95.

Conclusion

If investors continue showing their interest in Polygon and add these tokens to their portfolio, it could continue to rise. MATIC’s bullish price prediction shows that it could reach the $1.7 level. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. CoinEdition and its affiliates will not be held liable for any direct or indirect damage or loss.

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