Just like, Bitcoin, the MATIC (Polygon) coin has also become another choice of the investors in the cryptocurrency market. This crypto coin entered the currency market in the year 2019 and within a time span of one year, it has given about 2500% profits to the investors. Well, many of you might not know but the platform of Polygon is used to scale up and excite mass adoption of Ethereum. It is a Layer 2 scaling solution and is supported by Coinbase and Binance. Polygon was initially launched in the year 2017 and was founded by co-founders, Anurag Arjun, Sandeep Nailwal, and Jayanti Kanani. The former one is a business consultant while the latter two hold vast experience in blockchain development.
The coin achieves a 230% gain and in the future, it is most likely that the Polygon is going to show more rise in the coming weeks. However, the analyst has warned that the crypto market is going to see volatility in the market. As per the expert opinions, in the coming days, the Polygon is going to stick on the top of the trend line. Previously, the polygon witnessed a 261.8% high, and also during March-April, Fibonacci extensions recorded the MV of USD 1.53, and also on 12th May it made a high of USD 1.31. In short term, the trade analyst expects that the polygon would give a return of 40%.
As of now the resistance level of the Polygon is recorded to be USD 2.00 and so if the polygon crosses the resistance level, the MATIC is going to be a rise in the price. Therefore, the recommended upside target for MATIC is a 361.7% extension of May consolidation at USD 3.01 and the investor can expect a 100% return. As per the Relative Strength Index (RSI), the Polygon is going to show a rise in the price.
Read more: Ripple price prediction
MATIC Price Prediction
Right now, the current market price of MATIC is USD 1.68. Today the coin made a low of $1.29 while it made a high of $ 1.82 and also saw that in the last 24 hours, the price of the polygon remained up to 31% forming a Doji Candlestick meaning that the opening and closing price of the coins were equal and saw reverse pattern and also the Crypto market witnessed slight volatility.
As previously mentioned, if the MATIC crosses the resistance level, which is currently at $1.38, then we can see a slight move above the resistance margin towards $1.83, $2.51, $ $3.23, and $3.66. However, if the polygon fails to crosses the resistance level, then we could see a drop in the price level towards $1.12, $1.03. We will keep you updated, till then, stay tuned with us.
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