• Polygon (MATIC) is a layer-2 blockchain that uses a proof-of-stake consensus mechanism.
• MATIC price prediction for 2023 is $0.6647 to $0.9767 with the possibility of reaching $2 soon.
• Traders can use accurate technical indicators to predict the future movement of MATIC in the market.
Polygon (MATIC) is the native cryptocurrency of the Polygon Network, formerly known as Matic Network. It serves as a payment token and governance token on the network and users use it for transaction fees and voting rights. This Ethereum scaling blockchain recently launched its zero-knowledge Ethereum Virtual Machine (zkEVM) in the blockchain ecosystem. In this article, we will analyze the price patterns of MATIC by using trader-friendly technical analysis indicators and predicting its future movement in the market.
Polygon (MATIC) Current Market Status
The current market status of MATIC consists of a circulating supply 9,319,469,069 coins and 24-hour trading volume worth $272,932,522 USDT at a price of $0.5538 USDT per coin with an all time high value of $2.92 USDT on December 27th 2021 and an all time low value of $0.003012 USDT on May 09th 2019 according to CoinMarketCap data .
Traders can use accurate technical analysis indicators such as RVOL MA , RSI , ADX , RVI etcetera , to predict future movements in Polygon’s price . The 24 hour chart for MATIC/USDT shows that it has been trading within symmetric triangle pattern with support levels at 0 . 5444 USDT & resistance levels at 0 . 5648 – 0 . 5721 USDT range respectively .
Polygon Price Prediction 2023
The overview of the Polygon price prediction for 2023 suggests that bullish predictions are expecting prices between 0 . 6647 – 0 . 9767 USDT while bearish predictions expect prices to reach down to 0 . 3684 USDT value in this year itself . Furthermore , we have also compared MATIC’s performance with BTC & ETH from which we can say that polygon has been performing well against these two major cryptocurrencies since mid – April 2021 period onwards when compared year – over – year basis
In conclusion , our research suggests that Polygon (MATIC) could reach up to or even surpass its all time high value by 2023 which makes it an attractive investment option if traders decide to invest in it after proper risk management techniques are applied according to individual strategies & needs for short term or long term investments purpose respectively