Following the recent developments between Matic and Ethereum, we decided to issue this MATIC price prediction and analysis for June. MATIC, which was recently rebranded to Polygon, is the 17th cryptocurrency with a market capitalization of $10,406,996,524. It has a circulating supply of 6.16B MATIC, with a maximum and total supply of 10B MATIC. Over the last 24 hours, the token has recorded a trading volume of $3,336,153,041.
MATIC Price Prediction: Analysis
MATIC started the year at lows of $0.02936, as illustrated in the graph below.
At the end of April, MATIC was trading at $0.8819, as indicated in the chart below.
But since then, it has maintained a steady bullish momentum. On May 15th, the fortunes of the altcoin changed. Over the past month, from April 18th to May 18th, the token touched an ATH of $1.8. Subsequently, it has witnessed a price rally, with the highest being $2.18 and the lowest – $0.3234, as demonstrated in the same chart.
From the above chart, we can see that MATIC has registered a strong bullish rally that has attracted retail investors to its counter.
It is noteworthy that although Matic is correlated with Ethereum, by 9th of May, Ethereum experienced a stunted price rally. However, MATIC continued to record gains largely because most of it was wiped from exchanges. Within a span of only four months, over 1.2 billion MATIC have been wiped from spot exchanges. This is a clear indication that investors are increasingly getting bullish on the long-term prospects of the coin.
Similarly, unlike other speculative coins, MATIC has proved its worth in the utility arena, thereby driving investors to its counter.
WalletInvestor provides the following technical details to help you in your trading activities:
- Resistance Level (R3): 2.115;
- Resistance Level (R2): 1.943;
- Resistance Level (R1): 1.826;
- Pivot Point: 1.655;
- Support Level (S1): 1.537;
- Support Level (S2): 1.366;
- Support Level (S3): 1.249.
MATIC is the cryptocurrency that powers transactions and pays fees on the Matic Network. Despite rebranding to Polygon in February 2021, it is still the token that powers the network. In April, Matic launched a fund that aims to enable end-users to access decentralized finance easily. The fund seeks to onboard users to DeFi platforms and products. These developments have played a vital role in attracting investors to purchase the token.
As most developers aim to scale their solutions on the Ethereum network, the latter’s landscape is proving to be complex and less scalable. That is why Polygon undertook to enhance the Ethereum network for more scalability. Ultimately, Polygon seeks to scale crypto projects and decrease the high fees commonly charged by Ethereum. As expected, this will reflect on Polygon price movements in the long-term.
MATIC Price Predictions: Market Opinions
Here are some of the best market opinions from thought leaders in cryptocurrency predictions that will help you make an informed decision.
Coinpedia predicts that if MATIC manages to surmount the resistance level of $2.0, the coin may hit the $3.01 mark as its next upside. Furthermore, with several collaborations and more users, the coin may trade at $5.0 by the end of 2021. On the flip side, if the network doesn’t attract users, the value of the coin may drop to as low as $0.2.
Gov.Capital‘s MATIC price prediction based on a day to day forecast is rather pessimistic. It reveals that the best price for June will be $ 2.0378 on the last date of the month. The entire prediction for the moth is shown below:
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Digitalcoinprice predicts that the lowest price of MATIC will be $1.24, while the highest will be $4.29. In a year’s time, they anticipate that the coin will be worth up to $1.45. However, they are optimistic that MATIC’s price will increase in the future.
MATIC price prediction: Verdict
Based on technical analysis and the prevailing developments in the realm of dApps, our MATIC price prediction shows that the price of the token will grow incrementally. Currently, it is competing with Polkadot in trying to improve the Ethereum ecosystem by offering scalability solutions. Having onboarded notable developers in their initiative, they have a head start that will see them reap the resources earlier.
Moreover, the development of dApps presents a fertile environment for the bullish sentiment expected to continue on MATIC. Ultimately, Polygon price movements seem to be headed to an upwards trajectory as long as it uses Ethereum in the development of dApps and smart contracts. Therefore, it is a good buy for the patient investor.
Is Polygon MATIC back in the race? Is $2 incoming?
Polygon announced an increase in gas fees this week, following which the price plummeted dramatically. Nonetheless, the cryptocurrency has recovered by 28 percent in the last 24 hours, rising from $1.25 to $1.60.
The increase happened after the Korean cryptocurrency market Upbit announced that MATIC coin was now available for purchase and trade. The price rose from roughly $1.23 to $1.63, but then levelled off and is presently falling.
On Polygon, the average price of gas has climbed to almost 56 Gwei. Although a 2900 percent increase in commission seemed startling, it was still considerably less expensive than conducting a transaction on Layer 1 Ethereum, which cost tens of dollars instead of a fifth of a penny.
According to pivot points research, the token’s resistance levels following the $1.65 mark are at $2.00. If the stock takes a negative reversal, though, sellers may face resistance near $1.30 or $1.00.
Furthermore, when compared to the previous several months, the daily chart shows a massive increase in volume. In addition, the $1.65 breakout might attract more buyers.
The MATIC Token is currently trading at $1.55, and has surged by 0.7 percent in the last 24 hours.
Survey shows crypto traders are most bullish on polygon and other cryptos!
The Real Vision Exchange Crypto Survey is designed to assess investor sentiment by allowing participants to scan 30 tokens and decide whether each one should be overweight or underweight. Real Vision Bot, which was created by two independent coders and bolstered by macro master Raoul Pal, conducted the survey.
Mid-week madness? Votes in the @RealVision #cryptocurrency survey over the last 48 hours. #polkadot is leading, follower by #solana and #polygon. #bitcoin where are you?
Don't forget to vote:
Macro: https://t.co/D0BUbVVcdI pic.twitter.com/RpE7HKysWX— Real Vision Bot (@RealVisionBot) October 13, 2021
Traders choose an overweight portfolio of smart contract platforms Polkadot (DOT) and Solana (SOL), as well as Ethereum scaling solution Polygon, according to vote results from the first two days of this week (MATIC).
Because the price levels have moved higher, the one-day Polygon price analysis predicts an uptrend for the day. This has proven to be quite advantageous for the entire coin worth, since the price has also surpassed $1.45. As more and more pressure is applied from the buyers’ side, the bullish wave is becoming stronger.
Crypto Traders Most Bullish on Polkadot, Solana, Polygon and 10 Additional Altcoins: Digital Asset Survey
A new survey unveils that crypto traders are most bullish on 13 altcoins including Polkadot, Solana and Polygon.
The Real Vision Exchange Crypto Survey is designed to track sentiment among investors by allowing participants to scan 30 tokens and choose if they want to have an overweight or underweight allocation for each one. The survey was conducted by Real Vision Bot, which was created by two independent developers and boosted by macro guru Raoul Pal.
Results from voting that happened on the first two days of this week indicate traders prefer an overweight portfolio consisting of smart contract platforms Polkadot (DOT) and Solana (SOL), as well as Ethereum-scaling solution Polygon (MATIC).
The scalable and interoperable ecosystem Cosmos (ATOM) is fourth on the list, and smart contract platforms Terra (LUNA) and Cardano (ADA) appear tied for fifth. Traders also have overweight allocations for decentralized oracle network Chainlink (LINK), Ethereum competitor Avalanche (AVAX), Ethereum-based token Enjin Coin (ENJ) and decentralized exchange Uniswap (UNI) for the sixth, seventh and eighth places, respectively.
Tied in ninth place are cross-border payment solutions Stellar (XLM) and XRP, as well as decentralized storage network (FIL).
Real Vision Bot clarifies that the participants are not necessarily holding the cryptocurrencies that they voted for.
“They can of course vote according to their own positions, but also just based on their sentiment or forward looking. There are many reasons why the own book might not be 1:1 the preferred allocation.”
Bitcoin (BTC) is conspicuously absent from the list. Pal highlights that the community is responsible for that absence.
“It’s not us – it’s the community who makes the allocation… You guys, to be exact.
Polygon price analysis: Bullish momentum reignites taking price levels to $1.46
- Polygon price analysis predicts an uptrend.
- Price is now standing on $1.46 level.
- Support is considerably strong at $1.044.
The Polygon price analysis states that the bullish momentum has returned to the price chart as the price has been elevated up to $1.46 in the last 24-hours. The bulls have been performing quite consistently for the past few days after finding the path to recovery. Even today the trends have been extremely favorable towards the bulls and the price has improved tremendously. This is a welcoming sign for the buyers as the bullish current has been quite overpowering.
MATIC/USD 1-day price chart: Price rebalances itself above $1.45 after regaining strength
The one-day Polygon price analysis is predicting an uptrend for the day as the price levels have moved higher. This has proved to be quite profitable for the overall coin value as the price has reached the $1.457 level as well. The bullish wave is getting stronger as more and more pressure is being put forward from the buyers’ side. If the bulls continue to progress then there is a chance the moving average (MA) value might go higher than $1.294.
The volatility has increased which means that price might fluctuate more in the coming time period. The upper and lower Bollinger band values have changed as well as now the upper value is standing at $1.442 and the lower value is standing at $1.044. The Relative Strength Index (RSI) score has moved up to 62.15 because of the climb in price.
Polygon price analysis: MATIC faces massive bearish resistance above $1.50
The price is undergoing decline according to the four hours Polygon price analysis. The price has decreased significantly during the last four hours which was quite unexpected as an uptrend had been following earlier. The price had been moving upwards quite consistently but now the trends have undergone reversal once again. The price has now been lowered down to $1.455, which is still quite higher than the moving average level i.e. $1.34.
Although a crossover between SMA 20 and SMA 50 curve took place earlier, the four hours progress has been quite negative. The volatility has increased tremendously and now the upper Bollinger band value is sitting at $1.45 and the lower value is at $1.087. The RSI score has dropped down to 70, which is still an impressive number.
The overall trend for the cryptocurrency is going bullish as the MATIC/USD price has undergone major improvement. There are 17 indicators that are present on the buying position, nine indicators on the neutral position while none is on the selling position.
The moving average is declaring the bulls on the leading position as well with a strong bullish signal. There are 14 indicators on the buying mark, one indicator on the neutral mark, and zero indicators on the selling mark. The Oscillators are giving out a bullish hint as well with eight oscillators on the neutral position, three oscillators on the buying position, and zero on the selling position.
Polygon price analysis conclusion
The bullish momentum has been intensifying over the past few days and so the circumstances have turned favorable for the buyers. Both the hourly and daily price predictions are indicating a rise in price and have reported that the price has heightened up to $1.46 today. The cryptocurrency might face loss in the upcoming hours as the four-hour price chart is confirming a drop in price.