- Bullish MATIC price prediction ranges from $0.7 to $1.7
- MATIC price might also reach $5 this 2021.
- MATIC bearish market price prediction for 2021 is $0.7.
This Polygon (MATIC) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key measures that we have taken into consideration upon coming up with our MATIC price analysis and prediction.
There are many cryptocurrencies that skyrocketed to a new all-time during this 2021 bull run. In contrast, some crypto also had a decline in price. Therefore, many crypto traders and investors are confused about whether it is time to hold or sell crypto for a good price. For MATIC, the former may be the case.
Moreover, the crypto market is in the bearish movement lately, and most cryptos are losing their previous profits. Is the scenario the same with MATIC price? We’ll find out shortly in this MATIC price analysis 2021 article. But first, let’s have a look at what MATIC is.
What Is MATIC (Polygon)?
Polygon is the first well-regulated, easy-to-use platform for Ethereum scaling and infrastructure development. Its core element is Polygon SDK, a modular, flexible framework which supports building multiple types of applications.
MATIC, the native tokens of Polygon, is an ERC-20 token based on the Ethereum blockchain. Moreover, the tokens are utilized for payment services on Polygon and as a settlement currency between users who operate within the Polygon marketplace.
Currently, the top crypto trading platforms for MATIC are Binance, Huobi Global, CoinTiger, FTX, and VCC Exchange.
Now that we have an idea about MATIC, do you think MATIC will be profitable crypto in 2021? Or, are you curious to find out? Join me and let us see the charts in this MATIC price analysis and MATIC price prediction.
Polygon Price Analysis 2021
Polygon is an Ethereum startup seeking to bring an end to the problems disturbing the Ethereum network. Furthermore, the two significant problems faced by the Ethereum blockchain are high transaction fees and slow transaction time. On the other hand, Polygon seeks to address the low transaction time of Ethereum.
Would the recent development and changes in the MATIC’s blockchain help the cryptocurrency price to grow higher? Let’s look into the charts in this MATIC price prediction article.
In the smaller time frame in the chart below, we can see the Symmetric Triangle pattern. This pattern indicates a period of consolidation that may lead to a price breakout or breakdown.
A breakdown from the lower trendline represents the start of a new bearish trend, while a breakout from the upper trendline shows the start of a new bullish trend.
As shown above, at the beginning of this month, MATIC turned its bearish position to bull trend. One reason to consider, the high trade volume occurred in that period.
Furthermore, the Relative Strength Index (RSI) is at 73, which means that MATIC is already at an overbought state. As a result, this may lead to a price reversal at any given time.
When it comes to the moving average convergence/divergence (MACD), the MACD stays above the signal indicator. In other words, traders can expect more bullish ahead of the crypto. However, if the crypto begins to show a downward trend sign, it will be a different story.
MATIC is one of the potential cryptocurrencies this year. Since the start of 2021, MATIC’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations and corrections right away. Moreover, some crypto experts predict March will be altcoins season.
MATIC Price Prediction 2021
Currently, MATIC holds the 53rd place on CoinGecko. In fact, MATIC price reached an all-time high price of $0.5089 on March 11, 2021 after Coinbase Pro listing. More so, it also reached a 24-hour trading volume of over $501 million.
Would this market performance be enough for MATIC to maintain its bullish position in 2021? Are you excited to know the results? Well, what are we waiting for? Let’s get to the bottom of it in this MATIC price prediction 2021.
In the short-to-mid term scenario for our MATIC price prediction 2021, MATIC has to break past the retracement level at $1.76. To do this, it has to establish more support at the Fib level at $0.7. If not, bears may gain the upper hand and drag MATIC to their territory.
Meanwhile, our long-term MATIC price prediction 2021 is bullish. Even more, it has a high possibility of reaching a new all-time high this year. However, that will only happen if it breaks past a number of psychological resistances.
MATIC has a bright future ahead of it in 2021. With ongoing developments happening within the MATIC ecosystem, as well as in the overall crypto market, we may see MATIC reach new heights.
Even more, the bullish MATIC price prediction 2021 is $1.76. As said above, it may even reach a new ATH if investors have decided that MATIC is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin and Ethereum. Moreover, it has a chance to reach $3 in the latter parts of this year as well.
MATIC is an ERC-20 token based on the Ethereum blockchain. However, it seeks to bring an end to the issues that disturbs the Ethereum network.
Users can obtain MATIC tokens by purchasing them from cryptocurrency exchanges such as Binance or Huobi Global.
MATIC is a good investment in 2021. However, MATIC has a high possibility of surpassing its current ATH at about $0.5089 this year.
Yes, it’s very much possible that MATIC might reach $3 in the near future as per the current bullish trend.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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