Price Predictions

Polygon (MATIC) Price Prediction: MATIC Price in Decisive Phase, Will it Make-it or Break-it?

Polygon(MATIC) Technical Analysis

Key Takeaways

  • The MATIC price closed the previous day’s trade at $1.405 with a market capitalization of $11.27 billion and a circulating supply of 7.53 billion MATIC
  • After a huge slash in the short-term, MATIC price is attempting a strong flip that may flip the price trend towards a 15% upswing to surpass $1.5 levels soon

Polygon Price Analysis: MATIC Price Table (Last 30 Days) 

Date All-Time High All-Time Low Market Capitalization
21 February 2022 $1.615 $1.4 $11.27B
20 February 2022 $1.636 $1.494 $11.65B
19 February 2022 $1.644 $1.56 $12.23B
18 February 2022 $1.714 $1.583 $12.18B
17 February 2022 $1.864 $1.647 $12.89B
16 February 2022 $1.879 $1.747 $13.48B
15 February 2022 $1.880 $1.654 $12.89B
14 February 2022 $1.679 $1.596 $12.33B
13 February 2022 $1.741 $1.642 $12.34B
12 February 2022 $1.778 $1.667 $12.98B
11 February 2022 $1.904 $1.687 $13.83B
10 February 2022 $2.068 $1.878 $14.59B
09 February 2022 $2.061 $1.891 $14.89B
08 February 2022 $2.050 $1.877 $14.04B
07 February 2022 $2.088 $1.700 $14.65B
06 February 2022 $1.756 $1.672 $12.61B
05 February 2022 $1.763 $1.675 $12.77B
04 February 2022 $1.699 $1.537 $12.33B
03 February 2022 $1.562 $1.479 $11.30B
02 February 2022 $1.665 $1.525 $11.78B
01 February 2022 $1.665 $1.614 $12.37B
31 January 2022 $1.654 $1.527 $12.17B
30 January 2022 $1.710 $1.578 $12.12B
29 January 2022 $1.741 $1.654 $12.78B
28 January 2022 $1.704 $1.565 $12.18B
27 January 2022 $1.664 $1.498 $12.06B
26 January 2022 $1.812 $1.537 $12.54B
25 January 2022 $1.614 $1.411 $11.96B
24 January 2022 $1.619 $1.312 $10.69B
23 January 2022 $1.669 $1.511 $11.80B
22 January 2022 $1.755 $1.408 $11.22B
21 January 2022 $2.027 $1.650 $13.79B

Polygon Price Prediction: MATIC Price Trend Comparison with LRC & OMG (Last 30 Days)

Polygon is a layer-2 solution scaling solution built on the Ethereum network.  The layer-2 solutions help to scale an application by processing the transaction of the Ethereum mainnet network with keeping all the security measures in mind. These protocols are designed to increase the throughput and decrease the gas fees.  Polygon being the most popular layer-2 solution, other networks like OMG & Loopring are among the popular solutions. 

Matic Price PredictionSource: Tradingview

Polygon prices have maintained a considerable trend since the beginning of the year 2021. While many expected the MATIC price to hover above $2, woefully, the trend remained restricted below $2 until the press time. On the other hand, Loopring(LRC) which gained immense attention in recent times plunged hard with more intensity than Polygon along with the OMG network. 

But OMG price still maintains a considerable uptrend compared to MATIC & LRC. The recent jump had escorted the OMG price towards the average levels but very soon dropped nearly 44% at the press time. MATIC price also is down by 50% and LRC price has plunged by nearly 67.75%. However, the market sentiments and the technicals are pretty bearish and hence the correction phase appears to continue further. 

Additional Read: CoinDCX partner with Solidus Labs, Crypto Native Risk Monitoring Firm

Correlation of MATIC/USDT and DOGE/BTC (Last 30 Days)

Matic Price CorrelationSource: Tradingview

While the USD market appears to have been chopping around the narrow ranges for quite a time and hence the BTC trading pairs are maintaining an upper hand. No doubt both the trading pairs have maintained a notable downtrend since the beginning of the year, the MATIC/BTC pair appears to be in a pretty stronger position than the MATIC/USDT pair.

 The BTC pair has plunged nearly 29% from the highs whereas the USDT pair has dropped more than 48% in the same time. However, both the pairs have witnessed a bullish divergence which may prevent further plunged but to restart with an uptrend, the volume injected has to be extremely high.

Polygon Price Prediction: Will MATIC Price Hit $5 in 2022?

Polygon MATIC price maintained a pretty silent trend since the beginning of 2021 which later intensified as the Q1 was approaching its climax. Later the price surged like a monster to hit the highs very close to $3 from $0.018 levels jumping by more than 15,500% in a couple of months. Despite the May correction, the asset maintained a notable uptrend within a consistent uptrend channel to mark highs just above $3. 

The bears became extremely active here and dragged the price almost 55% down from its highs as it trades around $1.38 at the press time. The market sentiments are pretty bearish currently due to some external factors which are impacting the crypto space negatively. And hence one can expect the bearish trend to continue for some more time to reach the local support to ignite a flip. 

The MATIC price continues, the said plot may revisit the support below $1.3 and flip and maintain a notable surge to test the $1.5 by the end of the current month. Further undergoing some jumps and dips my head strongly beyond $2 by the mid-2022. However, the crypto space is speculated to bounce from the bearish trend in the second half of 2022 and hence assets could undergo a decent uptrend. And hence MATIC price may also test the ATH in Q3 2022 and continue to surge to discover new highs by the end of 2022 if the bear remains passive. 

Polygon Price Analysis: How High Will MATIC Coin Price Go in 2022?

The MATIC price is known to maintain a steady rally and hence despite the price variations, the Polygon ecosystem continues to work for the development of the crypto space. The platform is expected to roll out a lucrative update in the upcoming days that are expected to impact the price to a large extent. And hence in such a scenario, the MATIC price could regain its lost positions at the earliest. 

Irrespective of the trend, the price maintained a notable uptrend, trending within a huge ascending channel. And now after hitting the support levels, the asset flipping the bearish trend and rebounding towards the upper resistance appears to be pre-programmed. And hence the MATIC price may test the middle ranges of the channel above $2.5 initially and later head-on towards $3.5 Slicing through the ATH. 

Latest MATIC Crypto News in February 2022

Polygon Rewards A White Hacker by $75,000

After Cardano, Polygon rewards a hacker with a hefty amount of $75,000 for identifying a network flaw. As per the reports Niv Yehezkel reported a bug regarding the vulnerability in the PoS with Polygon’s smart contracts which had put billions of dollars at risk. 

Source: Twitter

Polygon Raises $450 Million Funding led by Sequoia Capital

Polygon recently raised $450 funding led by Sequoia Capital including the other giants like SoftBank Vision Fund 2, Galaxy Digital, etc and many more. The funds are expected to be utilized for the cutting edge technology zk-roll-ups which is said to be a key to onboard the users to web3. 

Source: Polygon Blog Post

Additional Read: Daily Crypto News, 22 February, 2022

Where & How to Buy Polygon MATIC coin

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Here, you are required to register and trade BTC/INR, ETH/INR and/or USDT/INR in huge volumes within the stipulated time frame. And done, you stand a chance to win rewards worth 1 Crore. Refer to the CoinDCX Announcement page for more details on the contest and also to keep updated with the upcoming events and announcements. 

Have not registered yet? No worries just follow the below-mentioned steps,

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Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalisation indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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