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Analysis

Polygon Token Price Analysis – New All-Time High This Week For MATIC?

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

MATIC posted a low of $1.60 and a excessive of $1.79 with a buying and selling quantity of $1,196,485,293.19, up by 36.32% within the final 24 hours.

According to Crypto Predictions, the price may rise as excessive as $2.300 all through February and has the tendency to fall as little as $1.230.

Some analysts estimate the price to hit $1.447, which is decrease than what monetary consultants have set their sights on.

Within the second quarter of 2022, the upward pattern is forecast to extend.

In April and June, the anticipated price vary is between a excessive of $1.257 and a successive low of $1.887, respectively.

The common price for April, May, and June is anticipated to be $1.479, $1.494, and $1.510.

MATIC complete market cap at $13.54 billion within the day by day chart | Source: TradingView.com

Related Reading | Why Terra (LUNA) Will Reward Users With New Community Bounty Program

Most crypto consultants consider that MATIC will proceed to achieve traction in the long term since there are nice probabilities that traders will proceed to pay extra consideration to it.

In 2023, the typical fee is seen to hit $5.68, with a minimal of $5.29. At the tip of that yr, the coin’s highest buying and selling worth is seen to be round $6.51.

Polygon Token Expected Price Rise

In the approaching days and weeks, the price of the Polygon coin is seen to extend much more based mostly on the technical evaluation mentioned above.

Its price could soar additional now that the bearish pattern line has been breached.

Based on present indicators, if MATIC can break previous its present resistance stage, it would attain exceed $2.00.

Its price could climb within the days forward. A brand new all-time excessive is feasible if Bitcoin continues its upward pattern and MATIC retains its personal regular momentum.

Market Changes Affecting MATIC’s Value

Meanwhile, new tasks discover their manner into the Polygon community, growing Polygon’s market worth.

Aside from further shoppers, the variety of builders in Polygon’s ecosystem is rising as nicely.

For instance, Polygon has reached a big milestone with the recording of 11,400-plus developer groups in its system.

In addition, Polygon can be gaining extra institutional traders’ help.

Sequoia Capital has made a $450 million funding within the present Polygon fundraising spherical.

Polygon’s progress is aided by these investments which, in flip, raises the price of MATIC as a complete.

Related Reading | Scaramucci’s Skybridge Capital Launches Ethereum Fund

Featured picture from Blockchain News, chart from TradingView.com

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