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matic price prediction
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Following the recent developments between Matic and Ethereum, we decided to issue this MATIC price prediction and analysis for June. MATIC, which was recently rebranded to Polygon, is the 17th cryptocurrency with a market capitalization of $10,406,996,524. It has a circulating supply of 6.16B MATIC, with a maximum and total supply of 10B MATIC. Over the last 24 hours, the token has recorded a trading volume of $3,336,153,041.

MATIC Price Prediction: Analysis

MATIC started the year at lows of $0.02936, as illustrated in the graph below.

At the end of April, MATIC was trading at $0.8819, as indicated in the chart below.

But since then, it has maintained a steady bullish momentum. On May 15th, the fortunes of the altcoin changed. Over the past month, from April 18th to May 18th, the token touched an ATH of $1.8. Subsequently, it has witnessed a price rally, with the highest being $2.18 and the lowest – $0.3234, as demonstrated in the same chart.

From the above chart, we can see that MATIC has registered a strong bullish rally that has attracted retail investors to its counter.

It is noteworthy that although Matic is correlated with Ethereum, by 9th of May, Ethereum experienced a stunted price rally. However, MATIC continued to record gains largely because most of it was wiped from exchanges. Within a span of only four months, over 1.2 billion MATIC have been wiped from spot exchanges. This is a clear indication that investors are increasingly getting bullish on the long-term prospects of the coin.

Similarly, unlike other speculative coins, MATIC has proved its worth in the utility arena, thereby driving investors to its counter.

WalletInvestor provides the following technical details to help you in your trading activities:

  • Resistance Level (R3): 2.115;
  • Resistance Level (R2): 1.943;
  • Resistance Level (R1): 1.826;
  • Pivot Point: 1.655;
  • Support Level (S1): 1.537;
  • Support Level (S2): 1.366;
  • Support Level (S3): 1.249.

Developments

MATIC is the cryptocurrency that powers transactions and pays fees on the Matic Network. Despite rebranding to Polygon in February 2021, it is still the token that powers the network. In April, Matic launched a fund that aims to enable end-users to access decentralized finance easily. The fund seeks to onboard users to DeFi platforms and products. These developments have played a vital role in attracting investors to purchase the token.

As most developers aim to scale their solutions on the Ethereum network, the latter’s landscape is proving to be complex and less scalable. That is why Polygon undertook to enhance the Ethereum network for more scalability. Ultimately, Polygon seeks to scale crypto projects and decrease the high fees commonly charged by Ethereum. As expected, this will reflect on Polygon price movements in the long-term.

MATIC Price Predictions: Market Opinions

Here are some of the best market opinions from thought leaders in cryptocurrency predictions that will help you make an informed decision.

Coinpedia

Coinpedia predicts that if MATIC manages to surmount the resistance level of $2.0, the coin may hit the $3.01 mark as its next upside. Furthermore, with several collaborations and more users, the coin may trade at $5.0 by the end of 2021. On the flip side, if the network doesn’t attract users, the value of the coin may drop to as low as $0.2.

Gov.capital

Gov.Capital‘s MATIC price prediction based on a day to day forecast is rather pessimistic. It reveals that the best price for June will be $ 2.0378 on the last date of the month. The entire prediction for the moth is shown below:

Calendar dateRegularLeast possible priceBest possible price
2021 June 01, Tuesday 1.316 1.1186 1.5134
2021 June 02, Wednesday 1.379 1.17215 1.58585
2021 June 03, Thursday 1.243 1.05655 1.42945
2021 June 04, Friday 1.048 0.8908 1.2052
2021 June 05, Saturday 1.172 0.9962 1.3478
2021 June 06, Sunday 1.190 1.0115 1.3685
2021 June 07, Monday 1.220 1.037 1.403
2021 June 08, Tuesday 1.411 1.19935 1.62265
2021 June 09, Wednesday 1.477 1.25545 1.69855
2021 June 10, Thursday 1.326 1.1271 1.5249
2021 June 11, Friday 1.113 0.94605 1.27995
2021 June 12, Saturday 1.246 1.0591 1.4329
2021 June 13, Sunday 1.266 1.0761 1.4559
2021 June 14, Monday 1.298 1.1033 1.4927
2021 June 15, Tuesday 1.505 1.27925 1.73075
2021 June 16, Wednesday 1.576 1.3396 1.8124
2021 June 17, Thursday 1.408 1.1968 1.6192
2021 June 18, Friday 1.177 1.00045 1.35355
2021 June 19, Saturday 1.320 1.122 1.518
2021 June 20, Sunday 1.343 1.14155 1.54445
2021 June 21, Monday 1.377 1.17045 1.58355
2021 June 22, Tuesday 1.599 1.35915 1.83885
2021 June 23, Wednesday 1.674 1.4229 1.9251
2021 June 24, Thursday 1.490 1.2665 1.7135
2021 June 25, Friday 1.241 1.05485 1.42715
2021 June 26, Saturday 1.394 1.1849 1.6031
2021 June 27, Sunday 1.419 1.20615 1.63185
2021 June 28, Monday 1.455 1.23675 1.67325
2021 June 29, Tuesday 1.694 1.4399 1.9481
2021 June 30, Wednesday 1.772 1.5062 2.0378

Digitalcoinprice

Digitalcoinprice predicts that the lowest price of MATIC will be $1.24, while the highest will be $4.29. In a year’s time, they anticipate that the coin will be worth up to $1.45. However, they are optimistic that MATIC’s price will increase in the future.

MATIC price prediction: Verdict

Based on technical analysis and the prevailing developments in the realm of dApps, our MATIC price prediction shows that the price of the token will grow incrementally. Currently, it is competing with Polkadot in trying to improve the Ethereum ecosystem by offering scalability solutions. Having onboarded notable developers in their initiative, they have a head start that will see them reap the resources earlier.

Moreover, the development of dApps presents a fertile environment for the bullish sentiment expected to continue on MATIC. Ultimately, Polygon price movements seem to be headed to an upwards trajectory as long as it uses Ethereum in the development of dApps and smart contracts. Therefore, it is a good buy for the patient investor.

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Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.