【Experts Suggest Polygon Will Rise 3050%】
MATIC price stagnated at $0.4150 on November 18, underperforming compared to competitors like Cardano and Solana, with only a 45% rebound this month. Nevertheless, some analysts are optimistic about its future performance, predicting it could rise to $12.66 by 2030, a growth of 3,050%.
As an early entrant in the Layer 2 industry, Polygon currently faces challenges from emerging protocols like Base and Arbitrum that are diluting its market share. However, Polygon maintains a stable adoption rate thanks to its zkEVM upgrade and collaborations with Magic Labs and Nomura Holdings, with the successful application of Polymarket being one example.
Recent market behavior shows that after hitting a low of $0.2860 at the beginning of the month, MATIC has broken out of a descending wedge, a bullish reversal signal, and has risen above the 50-day moving average, indicating some upward momentum. However, the small double top pattern formed at $0.4415 could be a potential bearish signal.
Technical analysis indicates that if it breaks above the double top level and the 200-day moving average ($0.3737), the price could further rise, targeting $0.5820. But if it breaks below the neckline at $0.3533, it could slide down to $0.2860. Whales have recently transferred millions of tokens from exchanges, showing confidence in MATIC's long-term outlook.
The future trend of Polygon will depend on technological upgrades, growth in adoption rates, and a more favorable policy environment. Despite its relatively lackluster performance at present, Polygon remains one of the promising Layer 2 projects.