MATIC Price Prediction – Will It Mark Major Gains? 

 The Polygon native coin, MATIC, started the year 2023 with a bull run. As of Jan. 3, 2023, it closed at $0.8405 against its closed price of $0.7600 on Dec. 26, 2022. MATIC is one of the recognized cryptocurrencies, holding 13th position on CoinmarketCap.

With a look into MATIC’s past and present price actions and technical analysis, one could predict its potential market price moves, although multiple factors could also influence the prediction.

MATIC Past and Present Price Actions

Notably, from Jan. to June 29, 2023, MATIC reached its highest market price of $1.5591 on Feb. 18, 2023.

Between Feb. 21 and Feb. 24, 2023, MATIC dropped so enormously as it closed at $1.3849 and $1.2660, respectively. Since then, it has been trading in a bearish trend.

For the first 4 days of June 2023, the market price remained stable without significant price changes. As of June 5, 2023, the market price fell so sharply, closing at $0.8362 against its closed price of $0.8934 on June 4, 2023.

This could have happened following the news of the SEC’s lawsuit against Binance, which occurred on that same day, June 5, 2023.

The next day, June 6, 2023, the market price lost further as it closed at $0.8237, and it was also the same day SEC sued Coinbase Global Inc. 

Since the SEC’s lawsuits on these recognized crypto exchanges, the MATIC market price lost so noticeably, trading below $0.8236 and above $0.5400 price levels.

The bulls recorded more losses as fear lingers amidst the SEC’s legal position on crypto exchanges, as MATIC closed at $0.7652, $0.7814, and $0.7277 on June 7, June 8, and June 9, 2023, respectively.

On June 10, 2023, sell pressure continued as MATIC closed at a $0.6120 price level. As of June 11, 2023, the bulls made efforts to raise the price as it closed at $0.6351.

The bulls sustained this bullish momentum for the next 2 days as the MATIC market price closed at $0.6430 and $0.6443 on June 12 and June 13, 2023, respectively.

Sadly, on June 14, June 15, and June 16, 2023, the bears took control of the market and sustained the bearish trend, making MATIC close at $0.6192, $0.5905, and $0.5899, respectively. As of June 17, 2023, the bulls attempted to take over the MATIC market, pushing the market price to $0.6137.

On June 18, 2023, the bears dragged the market price to the $0.5968 price level, but later, the bulls reclaimed their position, pushing the MATIC market price to trade above the $0.6141 price level.

The bulls maintained this bullish trend for 3 days, as MATIC closed at $0.614, $0.6312, and $0.6697 on June 19, June 20, and June 21, 2023.

Notably, between June 22 and June 27, 2023, the actions of the bulls and the bears made the market price remain slightly stable, as it closed within $0.6454 and $0.6751 price levels. As of the time of writing, MATIC is currently trading at $0.6296 today, June 29, 2023.

MATIC is Likely to Reach the $0.7000 Price Level today, June 29, 2023

Technical analysis on TradingView depicted buy pressure in the market that could likely take MATIC to a $0.7000 price level before the end of the day, June 29, 2023. MATIC is trading below its 50-Day and 200-Day Simple Moving Average (SMA); this implies a bearish trend.

Again, MATIC has its Moving Average Convergence/Divergence (MACD) above the signal line. This indicates buying pressure in the MATIC market. It also shows the likelihood of MATIC reaching the $0.7000 price level before the day, June 29, 2023, ends.

MATIC Relative Strength Index (RSI) is at 39.83, moving upward towards the overbought zone (70) from the oversold zone (30). This also validates the buy pressure signal indicated by MACD.

Note that the crypto market is highly volatile, with frequent changes in market behavior. Therefore, ensure there’s risk management and in-depth technical analysis before placing trades.

Experts’ MATIC Price Prediction

According to Changelly, the MATIC market price for 2023 will have its average, minimum, and maximum prices around $0.84, $0.80, and $0.95, respectively.

By 2024, it predicted the market price to be around $1.24, $1.20, and $1.43 for its average, minimum, and maximum market prices, respectively.

By 2025, Changelly also predicted MATIC to have its average, minimum, and maximum prices around $1.79, $1.72, and $2.13, respectively.

By 2026, it predicted that MATIC could have a minimum price of around $2.63, a maximum price of around $3.00, and an average price of around $2.70.

By 2027, it also predicted that the market price would be around $4.07, $3.97, and $4.56 for its average, minimum, and maximum market prices, respectively.

By 2028, Changelly also predicted MATIC to have its average, minimum, and maximum prices around $5.92, $5.76, and $6.80, respectively.

Notably, CryptoNewsZ predicted that by 2023, MATIC would have a minimum market price of $8.85, and its maximum will be around $2.07.

By 2025, it also predicted the market price to have its minimum and maximum prices around $2.38 and $3.42, respectively. By 2030, CryptoNewsZ further predicted that MATIC would have a maximum price of $12.05 and a minimum market price of $8.37.

According to CoinPedia, the market price for MATIC is predicted to have a minimum price of $0.95, an average price of $1.41, and a maximum price of $1.83 by 2023.

By 2025, it also predicted MATIC to have its average, minimum, and maximum prices around $3.84, $2.62, and $5.06, respectively.

By 2030, CoinPedia further predicted that the market price would be around $17.21, $12.16, and $23.04 for its average, minimum, and maximum market prices, respectively.

Factors That Could Influence MATIC Market Behavior

Many factors affect the cryptocurrency market globally; these include the principle of demand and supply, the latest developments within a crypto ecosystem, macroeconomics, cryptocurrency regulatory policies, and market sentiments.

MATIC Affected by The U.S. SEC

The United States Securities and Exchange Commission (SEC) sued Binance and Coinbase Global Inc. on June 5 and June 6, 2023, respectively.

The SEC accused the top crypto exchanges of offering and selling assets it regards as securities within U.S. territory, carrying out clearing and broker functions without meeting the SEC for registration. When this happened, it affected the global crypto market price, forcing it to plummet tremendously. 

All these affected MATIC, as investors feared further losses and pulled out of the market. This caused MATIC to trade below the $0.8236 price level.

MATIC Market Sentiments

The U.S. SEC listed some cryptocurrencies it considered securities in its lawsuits against Binance and Coinbase.  MATIC was among the listed cryptocurrencies SEC listed. 

Reacting to this, Robinhood, another notable trading platform, announced delisting MATIC, among others listed as securities, from its trading space.

This created a negative market sentiment for MATIC as the fate of the asset became uncertain and caused investors to lose confidence, thereby pulling out their funds. Nevertheless, on June 20, 2023, there was a slightly positive market sentiment in the MATIC market as Bitcoin rallied.

The Bitcoin sudden bull run happened following the application of BlackRock to SEC for Bitcoin spot ETF. Fidelity Investments also joined BlackRock on the move and announced applying for Bitcoin spot ETF.

This also influenced the market price of MATIC as it closed at $0.6312 on June 20, 2023; that same day, Bitcoin gained hugely against its closing price of $0.614 on June 19, 2023.

Note, many a time, when Bitcoin gains, other digital currencies also gain with it. This could be due to its position as the mother of crypto.

The Polygon 2.0 Unified Liquidity and Unlimited Scalability

As of June 22, 2023, Polygon shared through its Twitter handle that its Polygon 2.0 is made to create and add a value layer to the internet and also to enable Ethereum to reach the internet scale.

It noted that it involves multiple proposals for unified liquidity and limitless scalability. The Polygon 2.0 will ensure all users in any of its Polygon chains can exchange values with other users on whatever chain to carry out flawless transactions without extra securities assumptions.

With this, the Polygon network could make users experience instant interoperability within the internet, one of the innovations blockchain could bring. This could attract investors to the Polygon network and could have a positive impact on the market price of its native coin, MATIC.

Polygon (MATIC) Partnership with Warner Music Group for Music Acceleration through Blockchain

CoinDesk reported on June 28, 2023, that a global entertainment enterprise, Warner Music Group (WMG), seeks a partnership with Polygon Labs to create a music accelerator. 

With this, there will be an intersection of the music industry and Web3 technology. The Polygon Labs President, Ryan Wyatt, noted it would innovate the music industry.

Both Polygon Labs and WMG will fund the project, and experts from both industries will work together to make the vision manifest.

This project could create a decentralized channel for music production and distribution, drawing attention from both industries’ supporters, therefore, increasing their community.