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 July 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: Can the asset defy bearish expectations?

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.

July 2023 began with a bullish surge, which elevated the price over $0.75 mid-month. However, the broader downtrend cut this spike short, and declines followed. By September, the asset depreciated to $0.51.

After halting declines for over a month, 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, DOT 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 DOT 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 $0.66 in June. The selling trend continued, with the price hitting a nine-month low towards the end of June. 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 to exchange hands at $0.55 at press time.

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.
 

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.

If sell-offs start again, the price could fall below the current support level, potentially dropping to $0.46. 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 -DI line was initially dominant in the Directional Movement Index (DMI). By mid-July, the +DI line crossed above the ADX line, and it also surpassed the -DI line by late October. 
• The ADX line overtook the -DI line by mid-November and the +DI line by mid-March. A reversal occurred as the ADX and +DI lines declined while the -DI line rose, regaining dominance over the latter by early April. 
• By June, the -DI line surpassed the ADX line, reaffirming its initial dominance. At the time of writing, the values were -DI at 26.6502, ADX at 22.5076, and +DI at 14.6645, indicating a bearish trend.
• The 20 and 50-week Exponential Moving Averages (EMAs) were flipped bullishly by late October and mid-November, respectively. However, the candles hovered close to the 50 EMA, occasionally dipping below it.
• The bullish trend was confirmed in mid-February with the formation of a golden cross. Nevertheless, the market conditions deteriorated by early April, with both EMAs shifting back to resistance levels, culminating in a death cross in early May. This validated the sustainability of the downtrend.