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Polygon Token Price Analysis – New All-Time High This Week For MATIC?

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As of February 15, 2022, Polygon token MATIC has scaled its price to $1.79 with a 24-hour price change of +11.14%.

MATIC posted a low of $1.60 and a high of $1.79 with a trading volume of $1,196,485,293.19, up by 36.32% in the last 24 hours.

According to Crypto Predictions, the price might rise as high as $2.300 throughout February and has the tendency to fall as low as $1.230.

Some analysts estimate the price to hit $1.447, which is lower than what financial experts have set their sights on.

Within the second quarter of 2022, the upward trend is forecast to increase.

In April and June, the anticipated price range is between a high of $1.257 and a successive low of $1.887, respectively.

The average price for April, May, and June is expected to be $1.479, $1.494, and $1.510.

MATIC total market cap at $13.54 billion in the daily chart | Source: TradingView.com

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Most crypto experts believe that MATIC will continue to gain traction in the long run since there are great chances that investors will continue to pay more attention to it.

In 2023, the average rate is seen to hit $5.68, with a minimum of $5.29. At the end of that year, the coin’s highest trading value is seen to be around $6.51.

Polygon Token Expected Price Rise

In the coming days and weeks, the price of the Polygon coin is seen to increase even more based on the technical analysis discussed above.

Its price may soar further now that the bearish trend line has been breached.

Based on current indicators, if MATIC can break past its current resistance level, it might reach exceed $2.00.

Its price may climb in the days ahead. A new all-time high is possible if Bitcoin continues its upward trend and MATIC keeps its own steady momentum.

Market Changes Affecting MATIC’s Value

Meanwhile, new projects find their way into the Polygon network, increasing Polygon’s market value.

Aside from additional consumers, the number of developers in Polygon’s ecosystem is growing as well.

For example, Polygon has reached a significant milestone with the recording of 11,400-plus developer teams in its system.

In addition, Polygon is also gaining more institutional investors’ support.

Sequoia Capital has made a $450 million investment in the current Polygon fundraising round.

Polygon’s growth is aided by these investments which, in turn, raises the price of MATIC as a whole.

Related Reading | Scaramucci’s Skybridge Capital Launches Ethereum Fund

Featured image from Blockchain News, chart from TradingView.com
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