Polygon Price Prediction: 2024, 2025, 2030

MATIC price prediction: Key highlights

 

1. Primary support and resistance levels

• Within the weekly time frame, $0.33 can likely be the lowest support level for MATIC.
• Conversely, the highest resistance was observed at $1.08.

2. Market sentiment

• As of August 2024, the MATIC market exhibits a bearish stance.

3. Predictive forecasts

• Projections from our AI/ML predictive algorithms forecast that MATIC can average over $4 in 2029 and $10 in 2033.

Stay informed on MATIC’s trajectory via a comprehensive weekly technical analysis, 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: Is a bullish turnaround on the cards?

 

In the last year, MATIC has experienced significant volatility. The present market presents a dichotomy of possibilities, but the Polygon price prediction in 2024 will hinge on various factors. August 2023 commenced with a notable dip below $0.66. The wider market downturn caused substantial declines to follow. By September, the asset depreciated to $0.51.

 

This level was a springboard for a notable bull run that flipped $0.75 in November. A gradual accumulation of buying pressure allowed MATIC to test the highest yearly resistance at $1.08 by the end of December.
 

Nonetheless, the altcoin failed to overcome it. In February, the asset rallied again with the broader market and surged past the peak barrier in March. After a two-week success, it retraced its steps below.

 

By April, a series of bearish candles reinstated $0.75 as a resistance. This trend was not isolated to MATIC but impacted the entire sector. Subsequently, the asset consolidated between this level and $0.66. High liquidity at the former lowered the odds of a bullish breakout despite repeated tests.
 

Thus, the price broke down below the latter in June. The selling trend continued, with the price hitting a nine-month low towards the end of the month. Furthermore, 92% of the holders were experiencing losses.
 

The two-year-held support at $0.51 was lost to sellers by July. AMBCrypto noted that whale transactions spiked mid-month. Consequently, the price surged over the former level. However, the high was fleeting, and the downtrend resumed by month’s end.
 

As the calendar turned to August, MATIC tested the lowest yearly support of $0.40. At press time, it was valued at $0.41.

 

An earlier analysis by AMBCrypto outlined Polygon's historical performance, identifying two key accumulation phases. The first, a 630-day channel accumulation, resulted in a staggering 20,000% return. Currently, MATIC is in a 1218-day symmetrical triangle accumulation phase, suggesting a possible bullish breakout akin to the earlier phase.

 

Another report by AMBCrypto highlighted a bullish pattern on MATIC's price chart, mirroring similar past formations that previously led to bull rallies. If history repeats, the asset can experience upward momentum. Furthermore, the reduction of supply on exchanges indicated increased investor interest. 

 

If a bullish shift occurs, MATIC’s price will likely challenge the existing resistance level. At this point, an increase in liquidations could trigger a temporary price correction. However, overcoming it could set the stage for MATIC to aim for a target of $0.66.
 

For the bulls to sustain a prolonged rally, consistently maintaining momentum above the $1.08 mark is crucial. Surpassing this level could set the next targets at $1.50 and $1.70. The latter hasn't been tested since March 2022, indicating that a significant push from the bulls would be required. With robust buying pressure, MATIC could reach as high as $2.00.

 

However, the holders’ losses can tamper with the recovery efforts. If sell-offs start again, the price could fall below the current support level, potentially dropping to $0.37. A significant bearish push could further drive MATIC down to as low as $0.33.

 

Our predictive models suggest a cautiously optimistic outlook for the asset. According to these projections, the average price of MATIC is expected to hit $4 by 2029 and could reach an average trading price of $10 by 2033.

 

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

• The trading volume rebounded from mid-October, reaching new highs alongside the price. However, this revival was curtailed as prices fell, underscoring investor withdrawal.
• The Awesome Oscillator (AO) switched to register positive values in late November.  However, its waning momentum from late March culminated in the indicator dropping below the zero line in late April. At the time of writing, the AO was at -0.2834, highlighting a bearish trend.
• The Chaikin Money Flow (CMF) briefly moved over the zero line in late October. It surged past it again in December and retained the positive values until late July. The indicator closed the analysis at -0.04, indicating distribution.