Key Takeaways
- Polygon’s Current Status: Polygon price is currently with a recent 7-day change of +12.4%, reflecting a short-term positive trend despite ongoing volatility.
- Market Performance: The market cap is $4.69 billion with a trading volume of $256 million, indicating moderate market activity and liquidity, while the price remains below its all-time high of $2.92.
- Technical Analysis: MATIC price has recently corrected from a high of $1.2, forming a bearish pattern with a death cross between the 50-day and 200-day EMAs, suggesting further potential selling pressure.
- Price Predictions: For 2024, Polygon price is expected to range from $0.45 to $1.8, with significant fluctuations and potential bullish recovery, while projections for subsequent years show a potential rise to $5.2 by late 2028 and a bearish trend in 2029.
- Future Outlook: Polygon price is anticipated to face continued volatility with a potential for bullish recovery in 2024, but longer-term predictions indicate a bearish trend for 2026 and subsequent years, requiring traders to stay vigilant and adaptable.
Where will Polygon Price Head Next?
- Throughout 2023, Polygon’s MATIC price remained largely stagnant, missing out on the market recoveries that benefited other cryptos.
- In early 2024, MATIC price showed signs of a rebound, testing the crucial $1 level twice and briefly peaking at $1.2, suggesting a possible breakout. However, since mid-March 2024, MATIC has corrected from $1.2, dropping by over 60%.
- Currently, MATIC price is trading just below the critical Fibonacci base pivot level for August at $0.5. To reignite bullish momentum, it must surpass the $1 level again, which is significantly above the R3 Fibonacci pivot point.
- Following this correction, a death cross formed between the 50-day and 200-day EMAs on April 25, potentially triggering additional selling pressure on MATIC price and this bearish pattern is still ongoing.
- Looking ahead, the psychological $0.4 level is anticipated to serve as a key support for MATIC price, creating a critical support zone for the altcoin.
| Indicator | Value |
|---|---|
|
Support levels (Fibonacci, S1/S2/S3)
|
$0.44 / $0.41 / $0.35 |
|
Resistance levels (Fibonacci, R1/R2/R3) |
$0.55 / $0.58 / $0.64 |
|
50-day EMA |
$0.47
|
|
200-day EMA |
$0.64 |
|
RSI level |
46.54 |
|
MACD level (Signal Line) |
-0.002 |
Polygon Price Prediction August 2024
In August 2024, MATIC price is forecasted to persist in its range-bound motion, with a slight recovery anticipated around $0.45 to $0.5. Technical indicators suggest continued sideways trading, punctuated by occasional bullish indications as the month progresses. Traders may seek to capitalize on short-term price swings within the established range, employing range trading strategies to navigate the market.
September 2024 may witness a resurgence of bullish sentiment in MATIC price, with the range expanding to $0.65 to $0.7. Technical analysis indicates a shift towards stronger bullishness, as the “uptober” frenzy gains momentum. Traders may anticipate breakout scenarios above key resistance levels, positioning themselves to capitalize on upward price momentum. Market sentiment and external factors may further bolster bullish sentiment, driving Polygon price towards higher levels.
October 2024 is poised to be a month of significant gains for MATIC price, with the range expanding to $0.9 to $1.2. Technical analysis indicates a strong bullish momentum, fueled by the overall crypto market hype. Traders may witness breakout scenarios above key resistance levels, signaling a continuation of the upward trend. Market sentiment and external catalysts may amplify bullish sentiment, driving Polygon price towards new highs.
November 2024 could see the continuation of the “uptober” hype, influencing MATIC price to fluctuate around $1.3 to $1.7. Technical indicators suggest sustained bullish momentum, with potential breakout scenarios above key resistance levels. Traders may capitalize on upward price movements, strategically positioning themselves to ride the bullish trend. Market sentiment and external factors may further fuel bullish sentiment, driving Polygon price towards higher levels.
As the year draws to a close, MATIC price is expected to trade within the range of $1.5 to $1.8 in December 2024. Technical analysis indicates a slight softening of bullish momentum, following two strong bullish months. Traders may anticipate range-bound trading conditions, with price action constrained within established support and resistance levels. Market sentiment and external catalysts may influence price movements, prompting traders to adapt their strategies to changing market dynamics. Despite the potential for a softer end to the year, traders should remain alert for any emerging opportunities and adjust their positions accordingly.
Polygon Price Prediction 2025
Polygon price is expected to continue its bullish momentum from late 2024, aiming for a new all-time high (ATH). By mid-year, the price is projected to be between $3.6 and $3.95. In the latter half of 2025, it could exceed $4, potentially setting a new ATH. However, this could attract some bearish activity. By year-end, the price is anticipated to settle between $3.2 and $3.5 as bearish pressures intensify.
The start of 2026 is likely to see a downward trend in MATIC price, following the decline observed in late 2025. This bearish movement could deepen, potentially turning into a bear market by mid-year, with Polygon price possibly falling by 40% to 45% due to strong selling pressure. The bearish trend may persist into the second half of the year, despite buyers’ attempts to push prices higher. By the end of 2026, the price is expected to range from $1.95 to $2.05.
The beginning of 2027 might see a stable trend in MATIC price with some initial losses. However, by the end of the first quarter, bullish forces are likely to lead to a rebound. In the second quarter, the price may rise as it recovers lost ground. As the year concludes, a recovery phase is anticipated, with the price expected to range between $2.45 and $2.75.
At the start of 2028, Polygon price trend is expected to be positive, showing strong upward movement. This could lead to testing higher levels, with potential targets exceeding previous highs. In the latter half of the year, a recovery phase may begin, evolving into a minor bull run during the third quarter. The final quarter could see an intensified bull run, with the price surpassing previous highs to reach an ATH between $5 and $5.2.
The upward trend is anticipated to continue, potentially driving MATIC price beyond $6.5 and setting a new ATH. However, a significant correction is likely to follow, similar to past patterns, which could result in a substantial loss of gains. The remainder of the year might see a bearish trend, with the price potentially falling below $5. By year-end, further bearish downturns could drive the price below $4.5, closing around $4.4.
A persistent bearish trend is expected at the start of 2030, with MATIC price maintaining lower highs and lows. A moderate rebound may occur towards the end of the first half of the year, easing bearish pressure somewhat. In the second half, the price is anticipated to climb, reaching higher resistance levels and mitigating bearish activity temporarily. By year-end, Polygon price is projected to trade between $5.35 and $5.75.
Will the Polygon Price Rise Again in 2024?
As MATIC price concludes a volatile yet bullish year, the question looms: Will the Polygon price rise again in 2024? Technical indicators suggest a potential continuation of the uptrend, with bullish momentum likely to persist into the new year. However, market sentiment and external factors could introduce volatility, requiring traders to remain adaptable and responsive to emerging trends. With the crypto market’s inherent unpredictability, past performance does not guarantee future results. Yet, the strong fundamentals and growing ecosystem surrounding Polygon position it favorably for potential growth opportunities in 2024.
