At the time of writing MATIC is being traded at the price of $2.03. The price of MATIC has increased by almost 11.25% in the past 24 hours. The maximum and minimum of the day are around $2.03 and $1.76. The daily trading volume has also increased by almost 52.69% in one day. MATIC is listed on coinmarketcap at 17th spot according to market capital and has a market dominance of about 0.53%.
MATIC before the crash had achieved its all-time high around the price of $2.70 in May 2021. During the crash, Matic created a bottom and dropped down to $0.621. As compared to other coins MATIC has been one of the fast gainers but it still hasn’t touched its ATH. But the way it is moving, it wouldn’t be long before it goes into price discovery.
MATIC has a total supply of around 10B tokens and has a circulating supply of around 7.02B coins. It can be traded at a lot of different exchanges such as crypto.com, OKEx, Huobi with different trading pairs.
Technical Analysis – Polygon (Matic)
Matic has been one of the most bullish charts in the market. On the daily time frame, we can see that the price was respecting a trend line which eventually resulted in a descending wedge being created. Once the price broke out of the structure, the price came down to retest the support level.
It should be noticed that it was being supported and it had bounced from a trend line in the past. Now the price is moving with a huge momentum towards the upside. A target in mind is the grabbing of liquidity, which is present on the top side. Once it catches that, we can expect a reaction from the price.
In case the price becomes stable we can expect it to go higher, but on the other hand, if it fails to hold the level, we can expect the price to drop down. The first level of interest is the price around $1.7 from where the price can bounce. The second level of interest is around $1.2.
Price Prediction – Polygon
Polygon (Matic) has been one of the highly bullish coins in the market. According to wallet investor, Matic in one year is expected to reach a value of $3.475. In five years, it is expected to touch $10.667.
