- The Polygon crypto price has dropped by 25% in the past 10 days.
- The RSI is at 47 and it has rapidly dropped from the overbought zone.
The upgrade from MATIC to POL has been initiated on Ethereum’s mainnet for the Polygon token. Polygon 2.0, which released in the summer of 2023, is a roadmap for scaling Ethereum to build the Value Layer of the internet.
Source– X. The Polygon (POL) token upgrade is live on the Ethereum mainnet.
The Polygon (POL) token price is at $0.841 with an intraday gain of 4.25%. The market capitalization of Polygon is $8.05 billion. In terms of market cap, Polygon ranks 13th in the cryptocurrency market.
The trading volume of the Polygon token is $655.93 million and it has jumped by 36% in the last 24 hours. In terms of trading volume, the POL token ranks 17th in the cryptocurrency market.
The Polygon token price was in a bearish trend until October. In November, the POL price sustained above $0.600 and jumped by 66% in two months.
The POL token price has been in a bullish trend and it has been rising by forming higher highs and lower highs.
Polygon Price Technical Analysis Over 1-D Timeframe
The Polygon token is witnessing slow and steady gains and it is rising by taking support on a trendline. Currently, the POL price is on the trendline and it has consolidated for a while.
If the POL price gains bullish momentum and the buyers manage to lift the price to $0.900, then it may rise to the last swing high.
On the other hand, if the Polygon token fails to defend the trendline and sustains below it, then the sellers may dominate and profit booking can be initiated.
Polygon Token Price Technical Analysis on a 4-Hour Timeframe
In a 4-hour time frame, the POL crypto price has declined by facing resistance from the trendline. Currently, the Polygon price is facing resistance from the 200-day moving average.Â
If the Polygon token price surpasses and sustains above this level, then it may rise to the trendline. On the other hand, if the POL price slips below the $0.700 mark, then sellers may dominate, which may result in a bearish trend.
The Polygon token price prediction sentiment is neutral with 16 technical indicators giving a bearish signal while 13 are giving a bullish signal.
Polygon Price Prediction FAQs
What is the Polygon token price prediction today?
According to our analysis, the Polygon price will gain 3.81% to reach $0.837 by today.
What is the POL price prediction tomorrow?
The Polygon price is predicted to gain 4.51% to reach $0.872 by tomorrow.
What is the Polygon price prediction for 2024?
The POL price is predicted to range between $0.816 and $4.28 in 2024. The POL price will gain 411.25% to reach $4.28 if it goes for the upper target.
Will the POL price reach $10?
The Polygon price needs to gain 1,092.50% to reach $10. According to our analysis, the POL price will hit $10 by 2032.
Will the Polygon price reach $100?
The POL token price would have to gain 10,925.00% to reach $100. Based on our analysis, the POL price will reach $100 by June 2040.
Conclusion
The Polygon token price is situated above the significant moving average, which showcases a bullish trend. Here, the bulls are dominating and according to the analysts, the price will remain bullish above the $0.700 hurdle.
Technical levels
Resistance: $0.9300 & $1.00
Support: $0.750 & $0.600
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.
