Polygon Price Prediction: 2024, 2025, 2030

MATIC price prediction: Key highlights

1. Primary support and resistance levels

• In the weekly chart analysis, the lowest probable support level for MATIC can be estimated at around $0.32. 
• Conversely, $1.08 was recorded as the highest point of resistance.

2. Market sentiment

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

3. Predictive forecasts

• Based on our AI/ML predictive models, the average price of MATIC is projected to be $2.29 in 2026, with a future increase to around $5.51 in 2029.

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 charge back?

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 year commenced with MATIC in a state of decline, decisively falling below the crucial $0.91 mark by mid-May. Efforts by the bulls to recover were thwarted at this point.
 

As June unfolded, MATIC encountered a sharp decrease, plummeting to its yearly low at the $0.51 support level. This marked a pivotal moment for the asset as it began a recovery phase, reaching up to $0.75 by early July. 
 

However, this recovery was short-lived. The token succumbed to another downtrend, revisiting the $0.51 level by early September.
 

Mid-October saw a reversal in fortune for MATIC. The bulls regained control, propelling the price back to the $0.91 level by November. Despite this recovery, the asset experienced another setback, retreating to touch the $0.75 mark by late November. 
 

The end of the year brought a surge in buying pressure, with MATIC reaching a peak resistance of $1.08 as the year closed.
 

The onset of 2024 was marked by a corrective pullback, with MATIC's value dropping back to the $0.75 level. However, renewed bullish momentum in February saw the token once again breach the $1.08 resistance in early March. 
 

Yet, this optimism was quickly tampered by a subsequent pullback and a strong downtrend that forced MATIC down to the $0.63 level by early April.
 

Throughout the remainder of April and into early May, MATIC tested repeatedly at the $0.75 level. At the time of writing, MATIC was trading at $0.65.
 

According to AMBCrypto's recent report, the number of MATIC whales that held between 1,000 and 1,000,000 tokens had increased by 2% between early April and early May. Due to this, if the bulls gain stronger control, they could overcome this resistance, potentially pushing the price towards the next target of approximately $0.91.
 

For the bulls to maintain a prolonged run, sustainable momentum above $1 is necessary. Overcoming this threshold would put $1.50 and $1.70 next in line. The latter has not been breached since March 2022. 
 

Given the ongoing 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 $0.32.
 

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 $2.29 in 2026. By 2029, the altcoin can likely attain an average trading price of around $5.51. 

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

• The Moving Average Convergence Divergence (MACD) line was below the signal line at the outset. Bearish momentum was confirmed as both lines moved below the zero line by mid-May and early June, respectively.
• Market sentiment began improving in early 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 late December.
• 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 -0.0432, signal line 0.0148, and MACD line -0.0284. It suggested a potential continuation of downtick in price movement.
• Until late May, the Chaikin Money Flow (CMF) was above the neutral line. However, it dipped below this threshold by early June, continuing a southbound journey. By late August, the indicator touched its lowest value at -0.20.
• By late October, the CMF recovered again. This surge was not sustained as another drop below the zero line occurred during November. Following this, the CMF began recovering by late November, surging above the neutral line.
• After momentarily touching the peak value of 0.20 in March, the CMF stabilized. It stood at 0.10 at press time, indicating a solid inflow of money into the asset.
• 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.