Polygon Token Price Analysis – New Record High This Week For MATIC?

As of February 15, 2022, Polygon token MATIC has increased its price to $1.79 with a 24-hour price change of +11.14%.

MATIC recorded a low of $1.60 and a high of $1.79 with trading volume of $1,196,485,293.19, up 36.32% in the last 24 hours.

According to Crypto Predictions, the price could reach as high as $2,300 in February and tend to drop as low as $1,230.

Some analysts estimate the price at $1,447, which is below what financial experts have set their sights on.

The upward trend is expected to pick up in the second quarter of 2022.

In April and June, the expected price range is between $1,257 and a sequential low of $1,887 respectively.

The average price for April, May and June is expected to be $1,479, $1,494 and $1,510.

MATIC Total Market Cap at $13.54 Billion in Daily Chart | Source: TradingView.com

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Most crypto experts believe that MATIC will continue to gain momentum in the long run as it is likely that investors will continue to pay more attention to it.

In 2023, the average rate would be $5.68, with a minimum of $5.29. At the end of that year, the coin’s highest trading value would be around $6.51.

Polygon Token Expected Price Increase

In the coming days and weeks, the price of the Polygon coin is set to rise even more based on the technical analysis discussed above.

The price may rise further now that the bearish trendline has broken.

Based on current indicators, if MATIC can break past its current resistance level, it could reach above $2.00.

The price may rise in the coming days. A new all-time high is possible if Bitcoin continues its uptrend and MATIC maintains its own steady momentum.

Market changes affecting the value of MATIC

Meanwhile, new projects find their way to the Polygon network, increasing Polygon’s market value.

In addition to additional consumers, the number of developers in the Polygon ecosystem is also growing.

For example, Polygon has reached an important milestone with the inclusion of more than 11,400 developer teams in its system.

In addition, Polygon is also getting more support from institutional investors.

Sequoia Capital has made a $450 million investment in Polygon’s current fundraising round.

Polygon’s growth is supported by these investments which in turn increase the price of MATIC as a whole.

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Featured image from Blockchain News, chart from TradingView.com

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