Polygon Price Prediction: 2024, 2025, 2030

MATIC price prediction: Key highlights

 

1. Primary support and resistance levels

• In the weekly chart analysis, the lowest support level for MATIC can lie at $0.3. 
• Conversely, $1.7 can be the highest point of resistance.

2. Market sentiment

• The market sentiment surrounding MATIC is seen to be bearish in April 2024.

3. Predictive forecasts

• Based on our AI/ML predictive models, the average price of MATIC is projected to be $11 in 2027, with a future increase to around $100 in 2030.

Check out the comprehensive weekly technical analysis of MATIC, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

 

MATIC technical analysis: Can the bulls pull off a reversal?

 

Over the past year, MATIC has experienced significant volatility in its market trends. The present market sentiment presents a dichotomy of possibilities, but Polygon price prediction in 2024 will hinge on various factors.

 

The period under review began with the bulls trying to maintain their footing above $1.08. Nonetheless, their efforts failed, and in mid-April, bears had successfully pushed the price below the crucial threshold. The downtrend persisted, with the price dropping below $0.98 the following month.

 

June saw a further decline, with the price grazing its lowest support during the analyzed time frame at $0.51. Bulls’ attempts to rally were thwarted at $0.76 in mid-July. This resulted in further declines. 

 

By September, the asset had returned to its lowest support level, paving the way for a stronger bullish rally starting in mid-October. This effort culminated in the altcoin finally overcoming the $0.76 resistance in November.

 

However, attempts to breach the $0.98 resistance in mid-November and again in December faced rejections, leading to minor retractions. The bulls managed to stave off any declines at the $0.76 support.

 

In February, the buyers rallied again. This rally was noteworthy for overcoming all previous resistances. By March, MATIC had once again reclaimed $1.08. Nevertheless, after only two weeks, the price retraced its steps below. 

 

This time, the declines precipitated were more pronounced as the buyers were unable to stop them at $0.76. The cryptocurrency market flashed red signals, with Bitcoin (BTC) and many major altcoins unable to resist downward volatility. This led the asset to trade at $0.66, inching closer to its current support at $0.63.
 

According to AMBCrypto’s recent report, high liquidity at $0.73 might prevent further price increases. However, if the bulls gain stronger control, they could overcome this resistance, potentially pushing the price towards the next target of approximately $0.85.
 

For the bulls to maintain a prolonged run, sustainable momentum above $1 is necessary. Overcoming this threshold would put $1.5 and $1.7 next in line. The latter has not been breached since March 2022. Therefore, a concerted effort from the bulls will be necessary. The presence of healthy buying pressure can elevate MATIC to as high as $2.

 

Given the broader downturn, the price could dip below the current support level. This could lead to a decrease to $0.51. A pronounced bearish attack might lead MATIC back to as low as $0.3.

 

Our predictive AI/ML models project a robust uptrend that will persist. As per the models, the average price of the token is expected to be around $11 in 2027. By 2030, MATIC can likely attain an average trading price of around $100. This represents a massive appreciation of around 100%. 

 

MATIC’s 2024 roadmap: Key indicators to watch and trade

• The Moving Average Convergence Divergence (MACD) line dropped below the signal line at the outset. Bearish momentum was confirmed as both lines moved below the zero line in May and June, respectively.
• Market sentiment began improving in October, evidenced by the MACD line crossing above the signal line, suggesting a potential trend reversal. The bullish momentum was further solidified by the end of November, with the MACD line crossing above the zero line. This was followed by the signal line in January 2024.
• A decline in the positive value of the histogram was noted from December, with a more pronounced decrease by the end of January as the MACD line approached the signal line. After a brief reversal, the MACD line was again observed converging, eventually dropping below the signal line in April. 
• The latest values were histogram -0.0329, signal line 0.0539, and MACD line 0.0210. It suggested that the short-term momentum was slowing relative to the longer-term momentum, indicating potential downward price movement.
• Initially, the Bollinger Bands expanded significantly, but a slight contraction occurred towards the end of April as the price fell below the 20-week Moving Average (MA). The bands then experienced further expansion in June when the price dropped below the lower band.
• The bands contracted in late October, indicating reduced market volatility. During this period, the price began to recover, eventually rising above the 20 MA by the end of the month. 
• Slight movements above the upper band triggered further expansions of the bands in November, late December, and March. Yet, the price failed to maintain this dominance and fell below the upper band and then the 20 MA. It was reflective of a reversal to bearish conditions.
• The trading volume for MATIC experienced drops during the bears’ dominance. In October, it began to recover following the bullish rally. 
• This resurgence was slightly dampened intermittently, coinciding with the declining price. It could be due to profit-taking or investors being cautious.