#BinanceTurns7 #BinanceTournament #Megadrop #LayerZero #CPIAlert MATIC price declines toward $5 following bearish dominance.
MATIC price prediction for 2024 expects the price of MATIC to surge toward $1.03.
By 2030, we expect the MATIC price to record a maximum price of $10.51.
Polygon, an Ethereum side chain and layer two scaling solution, has experienced substantial uptake by enterprises and industries in the last year. Consequently, numerous analysts are eagerly anticipating the future valuation of its native cryptocurrency, MATIC. This raises the question: Can MATIC price reach $10?
This forecast for Polygon’s price examines factors such as ecosystem trends, adoption rates, underlying technology, and technical analysis to project the MATIC price prediction from 2024 to 2030.
Overview
CryptocurrencyPolygonTicker SymbolMATICRank12Price$0.5Price Change 24H-0.6%Market Cap$7,240,424,326Circulating Supply9,899,469,069.28 MATICTrading Volume 24H$210MAll Time High$2.92All Time Low$0.003012
MATIC Price Prediction: Technical Analysis
MetricValueCurrent Price$ 0.497597Price Prediction $ 0.586081 (16.69%)Fear & Greed Index 29 (Fear)Sentiment BearishVolatility 9.31%Green Days 11/30 (37%)50-Day SMA $ 0.641104200-Day SMA $ 0.81921514-Day RSI 37.73
MATIC price faces bullish correction toward $0.5
MATIC price analysis shows a bullish pressure as it surges toward $0.5.
Resistance for MATIC is present at $0.5357
Support for MATIC/USD is present at $0.4288
The MATIC price analysis for 7 July confirms that MATIC is struggling to validate a clear trend as it faces mixed signal around $0.5. The bulls are currently aiming for a recovery above $0.5.
MATIC price analysis 1-day chart: Polygon aims for a quick recovery
Analyzing the daily price chart of Polygon, MATIC’s price witnessed a bearish rally after bulls were unsuccessful in pushing the altcoinabove immediate Fib levels. However, over the last 24 hours, MATIC price has been surging toward $0.5 for a quick recovery. The 24-hour volume declined to $19.7 million, showing a decreased interest in trading activity today. MATIC price is currently trading at $0.5, decreasing by over 0.6% in the last 24 hours.
The RSI-14 trend line has declined from its previous level and currently hovers around 36-level, showing that bears are slowly gaining the momentum of the price. The SMA-14 level suggests downward volatility in the next few hours.
MATIC/USD 4-hour price chart: Bulls aim for a surge above EMA trend lines
The 4-hour MATIC price chart suggests MATIC price continues to experience bullish activity around EMA lines, creating a positive sentiment on the price chart. As the price continues to face resistance near immediate Fib level, bulls are aiming to prevent further declines by sending the price above EMA20.
The BoP indicator is trading in a bearish region at 0.14, hinting that sellers are trying to build pressure near resistance levels and boost a downward correction.
However, the MACD trend line has formed green candles above the signal line and the indicator aims for a positive momentum, strengthening buying positions.
MATIC Technical Indicators: Levels And Action
Daily Simple Moving Average (SMA)
PeriodValueActionSMA 3$ 0.501523SELLSMA 5$ 0.514949SELLSMA 10$ 0.540463SELLSMA 21$ 0.564303SELLSMA 50$ 0.641104SELLSMA 100$ 0.707436SELLSMA 200$ 0.819215SELL
Daily Exponential Moving Average (EMA)
PeriodValueActionEMA 3$ 0.547157SELLEMA 5$ 0.55371SELLEMA 10$ 0.566033SELLEMA 21$ 0.594937SELLEMA 50$ 0.651475SELLEMA 100$ 0.717042SELLEMA 200$ 0.765881SELL
What to expect from MATIC price analysis next?
The hourly price chart confirms bears are making efforts to prevent the MATIC price from an immediate surge. However, if MATIC price successfully breaks above $0.5357, it may surge higher and touch the resistance at $0.6004.
If bulls cannot initiate a surge, MATIC price may drop below the immediate support line at $0.4288, resulting in a correction to $0.3705.
Is MATIC A Good Investment?
MATIC token can be a good investment option in the long run as the project develops a roadmap for its Polygon 2.0 version. Additionally, Polygon collaborates with diverse industries to enhance adoption, focusing on NFT solutions and Ethereum scalability. Partnerships include Starbucks for an NFT loyalty program, and collaborations with Adidas, Prada, and Disney to develop NFTofferings.
Why is Matic Price Up Today?
MATIC price defended a decline below the $0.4 mark and triggered a quick recovery. As a result, buyers gained momentum and are currently aiming for a quick surge.
Will MATIC Price Touch $1?
Yes, Matic price might touch the $1 milestone by the end of 2024. However, this depends on the future market sentiment and buying demand.
Will MATIC Price Reach $10?
If everything remains good and MATIC gains regulatory recognition, we might see its price surpassing the $10 mark by 2030.
Is MATIC a Good Long-Term Investment?
As Polygon continues to expand its offerings, it gains a significant position in the altcoin market. Hence, MATIC can be a good long-term investment option.
Recent News/Opinions on MATIC
Polygon records new ATH in daily active addresses, suggesting continuous adoption of the network.
MATIC Price Prediction July 2024
The Bitcoin halving event failed to push the prices of several altcoins and MATIC is one of them. Despite Polygon 2.0 update, MATIC price continues to struggle in regaining its momentum above the $1 mark.
However, analysts now expect a steady surge in crypto market prices following a bearish May and we expect MATIC price to record a minimum price of $0.43 and a maximum price of $0.67, with an average of $0.55 in July.
MATIC Price PredictionPotential LowPotential AveragePotential HighMATIC Price Prediction July 2024$0.43$0.55$0.67
MATIC Price Prediction 2024
Following the Bitcoin halving in April, analysts expect a bull market in 2024, especially with institutions rushing for Bitcoin spot ETF approvals. This anticipation suggests Polygon might hold an upward trend in 2024, though regulatory uncertainties could halt its growth, as seen with XRP in the previous bull run due to an SEC lawsuit.
Yet, MATIC, integral to Polygon’s ecosystem, may be deemed a currency or commodity rather than a security, given its utility in paying gas fees. Notably, Polygon boasts the highest enterprise adoption among Ethereum scaling solutions, with major players like Starbucks, Nike, Reddit, and Facebook building on its network. This suggests that despite regulatory concerns, corporate interest could trigger Polygon’s bullish momentum in the 2024 market.
Based on our thorough technical analysis of MATIC’s historical price data, we anticipate Polygon’s price in 2024 to range between a minimum of $0.9012 and a maximum of $1.03, with an average trading price around $0.9298.
MATIC Price PredictionPotential LowPotential AveragePotential HighMATIC Price Prediction 2024$0.9012$0.9298$1.03
