PWSHub News

Polygon Price Prediction – MATIC Price Estimated to Reach $1.03 By Feb 18, 2024 | CoinCodex

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

  • Polygon is up 5.27% today against the US Dollar
  • Polygon is currently trading 15.20% below our prediction on Feb 18, 2024
  • Polygon dropped -0.14% in the last month and is down -28.78% since 1 year ago
Polygon price$ 0.873588
Polygon prediction$ 1.03 (17.80%)
SentimentBullish
Fear & Greed index79 (Extreme Greed)
Key support levels$ 0.839212, $ 0.797996, $ 0.775682
Key resistance levels$ 0.902742, $ 0.925057, $ 0.966273

MATIC price is expected to rise by 17.80% in the next 5 days according to our Polygon price prediction

is trading at $ 0.873588 after gaining 5.27% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 3.29% in the same time period. MATIC performed well against BTC today and recorded a 1.27% gain against the world’s largest cryptocurrency.

According to our Polygon price prediction, MATIC is expected to reach a price of $ 1.03 by Feb 18, 2024. This would represent a 17.80% price increase for MATIC in the next 5 days.

MATIC Price Prediction Chart

Buy/Sell Polygon

What has been going on with Polygon in the last 30 days

Polygon has been displaying a negative trend recently, as the coin lost -0.14% in the last 30-days. The medium-term trend for Polygon has been bearish, with MATIC dropping by -7.13% in the last 3 months. The long-term picture for Polygon has been negative, as MATIC is currently displaying a -28.78% 1-year price change. On this day last year, MATIC was trading at $ 1.23.

Polygon reached its all-time high price on Dec 27, 2021, when the price of MATIC peaked at $ 2.91. The current MATIC cycle high is $ 1.56, while the cycle low is at $ 0.322074. MATIC has been displaying low volatility recently – the 1-month volatility of the coin is at 5.00. Polygon recorded 16 green days in the last 30 days.

Polygon technical analysis for today - Feb 13, 2024

The sentiment in the Polygon markets is currently Bullish, and the Fear & Greed index is reading Extreme Greed. The most important support levels to watch are $ 0.839212, $ 0.797996 and $ 0.775682, while $ 0.902742, $ 0.925057 and $ 0.966273 are the key resistance levels.

Bullish sentiment for Polygon

24 indicators are currently signaling a bullish prediction for Polygon, while 4 indicators are showing a bearish forecast. With 86% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Polygon.

Crypto market is currently experiencing Extreme Greed

Currently, the Fear & Greed index is at 79 (Extreme Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Polygon moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Polygon is positioned in the market right now.

PeriodDaily SimpleDaily ExponentialWeekly SimpleWeekly Exponential
MA3$ 0.875737 (SELL)$ 0.818047 (BUY)--
MA5$ 0.839232 (BUY)$ 0.827399 (BUY)--
MA10$ 0.812615 (BUY)$ 0.836262 (BUY)--
MA21$ 0.796685 (BUY)$ 0.827192 (BUY)$ 0.974668 (SELL)$ 0.770929 (BUY)
MA50$ 0.833753 (BUY)$ 0.778933 (BUY)$ 0.516222 (BUY)$ 0.799430 (BUY)
MA100$ 0.826644 (BUY)$ 0.728089 (BUY)$ 0.375462 (BUY)$ 0.843297 (BUY)
MA200$ 0.742793 (BUY)$ 0.733389 (BUY)$ 0.424128 (BUY)$ 0.301788 (BUY)
PeriodValueAction
RSI (14)62.26NEUTRAL
Stoch RSI (14)62.66NEUTRAL
Stochastic Fast (14)69.17NEUTRAL
Commodity Channel Index (20)66.67NEUTRAL
Average Directional Index (14)13.04NEUTRAL
Awesome Oscillator (5, 34)0.03NEUTRAL
Momentum (10)0.02NEUTRAL
MACD (12, 26)0.01NEUTRAL
Williams Percent Range (14)-30.83NEUTRAL
Ultimate Oscillator (7, 14, 28)56.08NEUTRAL
VWMA (10)0.82BUY
Hull Moving Average (9)0.86SELL
Ichimoku Cloud B/L (9, 26, 52, 26)0.78NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Polygon is at 62.26, suggesting that MATIC is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Polygon over the last 50 days. Currently, Polygon is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the MATIC closing price for the last 200 days. MATIC is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Polygon prediction

After considering the above factors, we can conclude that the current forecast for Polygon price prediction is Bullish. MATIC would have to increase by 17.80% to hit our $ 1.03 target within the next five days. Moving forward, it will be important to monitor the MATIC market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Polygon price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Source: coincodex.com

Related stories
1 month ago - Polygon is predicted to increase 18.96% in the next 5 days and hit a price target of $0.998670 per MATIC. Check out today's Polygon price prediction to learn why.
4 days ago - Webull IPO is around the corner after a $7.3 billion merger with SK Growth Opportunities Corp as the firm shuns crypto engagement
2 weeks ago - MATIC price is up over 10% and it tested the $1.00 resistance. Polygon bulls are in full control, and they might aim for more upsides above $1.00.
3 days ago - Polygon is predicted to increase 10.49% in the next 5 days and hit a price target of $1.17 per MATIC. Check out today's Polygon price prediction to learn why.
Other stories
10 minutes ago - At a current market cap of $2.3 trillion, the cryptocurrency market is back in style. Thanks to the surging price of Bitcoin (CRYPTO: BTC), the world's most valuable digital asset, investors might be eyeing other tokens in the hopes...
20 minutes ago - Discover the exciting roadmap and future developments for Cardano (ADA) blockchain, featuring enhancements in scalability, governance, smart contracts, and cross-chain compatibility.
42 minutes ago - Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. In the ever-changing world of cryptocurrency, notable events have drawn global...
42 minutes ago - As XRP's break the critical level of resistance at $0.60, can the alt sustain its momentum and reach $0.75?
42 minutes ago - Crypto meme coins prices are exploding: Pepe is up 325% over the past seven days, Dogwifhat 418%, Shiba Inu 128% and newcomer Smog up 118%.
42 minutes ago - In a recent YouTube video update by Altcoin Daily, the enthusiasm for cryptocurrency, particularly Bitcoin, is palpable. Despite criticisms and skepticism