Polygon (MATIC) has given investors an emotional roller coaster ride in recent months. By May 2021, altcoin had seen an incredible rally. At the beginning of the year, the price was still $ 0.018. In just 4.5 months, the MATIC / USD exploded to a historic record of $ 2.63.
Purchase of MATIC / USD: 500 euros became 72,000 euros
Investors who choose Purchase of MATIC / USD have been able to expect an increase of more than 14,500% during this period. Who about January 1 Bought tokens worth 500 euros and has again sold at the best price, can expect a return of more than 72,000 euros.
This allows Polygon to easily overshadow the price development of well-known cryptocurrencies such as Bitcoin, Ethereum or Cardano and is without a doubt one of the best investments in the cryptocurrency market or the financial market in general.
Sharp correction 76 percent in 2 months
But the last two months have seen a sharp correction in MATIC / USD. The lowest $ 0.62 was reached yesterday on the trading day. Compared to the all-time record in May, that means a loss of more than 76 percent.
But is a serious fix now possibly over? Over the past 24 hours, MATIC / USD has shown a sharp rise in exchange rates, about 25 percent to over $ 0.78 at the time of release.
Technical analysis shows that altcoin managed to break the downtrend’s strong resistance line in the $ 0.76 price range and confirm it as a new support area by retesting. MATIC / USD had already been trying to get out of the downtrend several weeks earlier.
Fake-out and bullish eruption upward
On yesterday’s trading day, however, the opposite initially happened. $ 0.737, MATIC / USD broke the down triangle to the downside of the horizontal support line. But under the current situation, it was just a fake and the police counterattack was even stronger.
However, upward discharge must be handled with care. Because an examination of the trading volume shows that this is not particularly strong. However, trading volume is considered an important indicator in technical analysis to confirm the trend. Therefore, there is still a risk that it will be a new counterfeit before MATIC / USD falls back into the falling triangle.
However, the vertex of the descending triangle is almost reached. By midnight today at the latest, the altcoin must decide the direction in order for this formula to still be valid. The technical price target is at the starting point of the triangle and thus in the all-time high of $ 2.63.
Short-term price increase of 235 percent possible?
Should MATIC / USD really achieve this price target, investors now have a good opportunity to buy MATIC / USD at relatively low prices. Because the price increase will be more than 235 percent if the price target is reached. Also Merchants on cryptographic exchanges altcoin can provide a good opportunity. Ten times with leverage, 2350 percent trade can be converted into 235 percent growth.
However, the utmost caution is required here, and investors should limit potential losses with a stop loss. Because Altcoins price levels fluctuate over and over again. A kickback of up to 10 percent can result in complete loss of position with a 10-fold lever.
Caution is particularly advisable given that the cryptographic market is still a clear bear market despite the growth in recent hours over the long term. If you use EMA ribbons as a technical indicator, MATIC / USD will still be below the ribbons on both the 4-hour chart and daily candles.
This chart indicator uses a moving average price over different time periods to determine whether a price is falling or rising. As long as the price is below these bands, it is a downward trend according to technical analysis.
On the other hand, things look different on the 1 hour chart. Here, MATIC / USD has already managed to beat the EMA tapes. However, in order for altcoin to show an uptrend in 4-hour candles, an additional contribution of about $ 0.84 is needed. To break the downward trend in the daily chart, altcoin must even rise to $ 1.1.
Price targets between $ 4 and $ 12 for MATIC / USD
Regardless of short-term price developments, analysts predict a bright future for Polygon, which may make the investment particularly interesting for long-term investors who are willing to accept short-term setbacks and want to keep altcoin.
Analysts at Coin Price Forecast assume that MATIC / USD will close 2021 at $ 0.91, above current levels. However, market observers expect 122 percent growth and a year-end price of $ 1.72 as early as 2022.
Over the next ten years, from 2023 to 2033, analysts expect Polygon to continue raising prices. According to this, MATIC / USD could break the $ 3 limit for the first time in 2027 and thus the record will increase by more than 300 percent compared to 2021. By 2033, experts even consider the price of more than $ 4 realistic.
Wallet Investor analysts also give a clear upward forecast for MATIC / USD. At least in the long run. In the coming weeks, however, analysts are initially expecting new sales, which could lead to new low values around $ 0.5. In their view, this could offer investors a cheaper opportunity to buy cryptocurrency than is currently the case.
By mid-next year, however, Wallet Investor expects the Altcoin price to rise between $ 2.75 and $ 3.75. This would mark a new all-time high for Polygon. But analysts say this is just the beginning of a rally that has been going on for years.
The price increase is expected to be 633.8 percent by 2023. And by 2027, MATIC / USD could already get 1570 percent from current levels. That would mean a price of about $ 12.25.
Analysts on the price of the digital coin also agree with the rising forecast. A price of just under $ 1.2 for MATIC / USD is expected by the end of 2021. In 2024, altcoin could rise above $ 2 for the first time, moving back to all-time highs. In the long run, Digital Coin Price expects a price of about $ 3.5 by 2028. However, expectations are behind the Wallet Investor estimate and at the same time as the analysis of the coin price forecast.