Altcoin News

Is Polygon (MATIC) Price Poised For Rebound To $1.50?

The Polygon price has extended below $0.79 lately, however, a crypto analyst expects MATIC to hit $1.50 in the next bull run.
Published by
Is Polygon (MATIC) Price Poised For Rebound To $1.50?

Polygon (MATIC), a large-cap cryptocurrency, has been scrambling with a major price drop lately. On the contrary, a crypto analyst has rolled out an optimistic prediction for the Polygon price. The analyst expects MATIC to surge beyond $1.25 in the next bull run, indicating a relief for the crypto’s supporters.

Advertisement

Will Polygon Touch $1.50 Soon?

According to a post on X by Michaël van de Poppe, the CEO and Founder of MN Trading Consultancy, Polygon is poised for a reversal soon with a target range of $1.25 to $1.50. The analyst noted that the MATIC token has been maintaining higher timeframe support levels currently.

In addition, he stated that there has been a significant absorption of liquidity lately, indicating a potential bullish turn. However, Poppe also noted that the Polygon price has been underperforming recently. On the contrary, he added that despite the sluggish performance, he predicts an upswing to follow soon.

Polygon Price Chart Analysis, Source: Michaël van de Poppe | X

Based on the Polygon price analysis by Poppe, a 90% surge can be expected for MATIC, considering the current price trend orbiting around $0.79. Moreover, Polygon would bounce back to the highs attained in February last year, marking a notable milestone.

Earlier, in late December 2023, Poppe expected Polygon to touch $1.30 after entering the $0.89 to $0.96 region. However, the MATIC price has plunged 20% since. Whilst, it is estimated that the latest prediction could come true only if Polygon surges past $0.89, aligning with the December analysis.

Also Read: Polygon zkEVM Plots Major Upgrade, Here’s What Will Change

Advertisement

Polygon Price Loses 20% In A Month

Polygon has recorded a monthly loss of over 20% in its value and is currently extending further losses. Furthermore, the Polygon price extended below the $0.79 mark today, marking another drawback. At press time, the MATIC price was down by 1.70% to $0.787 on Monday, January 29, 2024.

Meanwhile, the Polygon market cap stood at $7.55 billion, indicating a 1.84% decline. In contrast, the crypto’s trade volume gained 8.37% to $270.31 million. During the day, MATIC soared to a peak of $0.8097 but eventually slumped to a low of $0.7824. In addition, the crypto has lost 32% in value in the last 12 months.

According to TradingView stats, Polygon’s RSI value stands at 46.5730, indicating a neutral sentiment. On the other hand, the 50-day and 100-day EMAs of 0.8188 and 0.7937, respectively, suggest a bearish trend as the MATIC price is trading below the EMA levels. However, a short-term bullish sentiment can be identified since Polygon is valued fairly above the 10-day EMA of 0.7768.

Also Read: Polygon Matic Price: Will Polygon Matic Keep Dropping in 2024?

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Cyber Hornet Seeks SEC Nod for S&P 500 and XRP ETF

Cyber Hornet has filed with the U.S. Securities and Exchange Commission (SEC) to launch a…

September 27, 2025
  • 24/7 Cryptocurrency News

Cathie Wood’s Ark Invest Eyes Stake in Tether as USDT Issuer Targets $500B Valuation

Tether Holdings is preparing for one of its biggest funding rounds, with two global investors…

September 26, 2025
  • 24/7 Cryptocurrency News

Kraken Secures $500M at $15B Valuation, Eyes IPO in 2026

Kraken raised $500 million, increasing its valuation to $15 billion, setting the stage for a…

September 26, 2025
  • 24/7 Cryptocurrency News

Bybit Lists Ripple’s RLUSD Following BlackRock and VanEck Integration

Crypto exchange Bybit has announced its listing of Ripple's RLUSD amid the stablecoin's growing adoption.…

September 26, 2025
  • 24/7 Cryptocurrency News

SWIFT Plans Stablecoin and On-Chain Messaging Pilot on Linea, Challenging Ripple

The world's largest interbank messaging network SWIFT has selected Ethereum layer 2 platform Linea to…

September 26, 2025
  • Bitcoin News

Breaking: U.S. PCE Inflation Rises To 2.7% YoY, Bitcoin Bounces

The August U.S. PCE inflation data has dropped in line with expectations, although it suggests…

September 26, 2025