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 be expected at $0.33. 
• Conversely, $1.08 was marked as the highest resistance.

2. Market sentiment

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

3. Predictive forecasts

• Based on our AI/ML predictive algorithms, MATIC can average over $20 in 2028 and $3,000 in 2035.

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: Price plunges despite network’s milestones 

Over the past year, MATIC has exhibited notable volatility in its market trends. The current market sentiment presents a range of possibilities, but the Polygon price prediction for 2024 will depend on several factors.

The period under review began with the market crash. June proved detrimental, as the asset depreciated to its lowest support during the analyzed time frame, $0.50. The bulls’ attempts to rally briefly pushed the asset over $0.75 in mid-July. However, this spike wasn’t sustainable as more declines followed. 
 

By September, the asset had returned to its lowest floor, paving the way for a stronger bullish rally starting mid-October. This effort culminated in the altcoin finally overcoming the $0.75 resistance in November.

Nonetheless, attempts to breach $0.98 mid-month and again in late December faced rejections, leading to minor retractions. Remarkably, the bulls managed to stave off any declines at $0.75.

In February, the buying pressure started to build up. This rally was noteworthy for overcoming all previous resistances. By March, MATIC surged past the high resistance at $1.08. Nevertheless, after only two weeks, the price retraced its steps below. 
 

This time, the declines precipitated were more pronounced as the buyers could not stop them at $0.75. The cryptocurrency market flashed red signals, with Bitcoin (BTC) and many major altcoins unable to resist downward volatility. This led the asset to plunge to the low base at $0.60.

Between mid-April and late May, bulls focused on flipping $0.75 while consolidating between this level and $0.60. Yet, high liquidity at the former resistance prevented further price increases. As the analysis concluded, MATIC was valued at $0.62.

Amid the market bearishness, AMBCrypto’s analysis identified a cluster of long liquidation levels at $0.80 and $0.76. This indicated that even if the price breaks out beyond the range high of $0.75, it might encounter a reversal around the $0.80 area.

Meanwhile, things are quite good for Polygon on the network front. AMBCrypto noted that Polygon outperformed Ethereum (ETH) in terms of gas usage and monthly active users due to its growing popularity. Furthermore, in the decentralized finance (DeFi) space, Polygon's PoS, zkEVM, and CDK emerged as top choices for builders.

Given the market downturn, the price could fall below the current support level, potentially dropping to $0.50. A significant bearish push could further drive MATIC down to as low as $0.33.

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 price point has remained the same since March 2022, indicating that a significant push from the bulls will be required. With robust buying pressure, MATIC could reach as high as $2.

Our predictive models anticipate a strong uptrend continuing. According to these models, the average price of MATIC is projected to reach around $20 by 2028. By 2035, MATIC could achieve an average trading price of $3,000, marking an impressive appreciation of approximately 15,000%. 

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

• The trading volume recovered from its lackluster state from mid-October. It achieved new peaks with the price. Nonetheless, this resurgence was dampened, coinciding with the declining price. This highlighted investor withdrawal.
• In the Directional Movement Index (DMI) analysis, the -DI line was initially dominant. Meanwhile, the +DI line crossed above the ADX line in mid-July. This positioning was maintained until Q4 2023.
• In late October, the +DI line rose above the -DI line. Furthermore, by mid-November, the ADX line surpassed it. The ADX line continued its ascent until it moved past the +DI line in mid-March. However, a reversal occurred, with the ADX and the +DI lines declining while the -DI line ascended. By early April, the +DI line had fallen below the -DI line.
• By the end of May, the -DI line not only continued its ascent but also moved above the ADX line, reaffirming its dominant position observed at the start of the analysis. At the time of this report, the values were -DI at 22.3952, ADX at 19.5941, and +DI at 17.2768. This indicated a bearish trend but one that was not particularly strong. 
• At the outset, the price candles stayed below the 20 and 50-week Exponential Moving Averages (EMAs), with the latter acting as the stronger resistance. By late October, the 20 EMA flipped to support. In mid-November, the price also breached the 50 EMA, though it continued to hover close, occasionally dipping below it.
• The bullish trend was confirmed in February with the formation of a golden cross, which elevated the candles into a dominant position. However, market conditions weakened by early April, with both EMAs shifting back to resistance roles. By early May, the 50 EMA re-established itself as the primary resistance, indicating a return to selling sentiment.