- The RSI is at 37 and it has dropped from the overbought zone in the last few weeks.
- Recently, Polygon’s price has slipped below the 200-day EMA, introducing selling pressure.
The Polygon (MATIC) token price has been consolidating in a parallel channel on a daily timeframe. The price is trying to sustain at the $0.95 level, but sellers are strong enough to drag the price down.
Recently, the Polygon crypto price gave a breakout from the channel and reached the $1 mark but failed to sustain and fell back to the channel in the next few days. The MATIC price has successfully defended the strong support level of $0.70 since November.
Polygon Price Overview

The Polygon crypto is trading at $0.73 with an intraday gain of 1.32%. Its market capitalization is $7.06 billion and in terms of the market cap, MATIC ranks 15th in the cryptocurrency market. Its fully diluted market cap is $7,346,021,255.
The 24-hour trading volume of MATIC is $335.27 million and it has decreased by 30%. The circulating supply of the Polygon token is 9,620,294,308 MATIC. Its maximum and total supply is 10,000,000,000 MATIC.
Technical Analysis Of Polygon Over 1-Day Timeframe

On a daily time frame, the Polygon token price has been stuck in a parallel channel for the last three months and failed to give a genuine breakout. The MATIC price has dropped from the upper resistance level to the support level in the last two weeks.
Recently, Polygon’s price has failed to defend the 200-day moving average and sellers seem to be in control. If the Polygon price fails to defend the strong support level of $0.700, then sellers may dominate and selling pressure can be observed.
On the other hand, if the Polygon crypto price takes support from the $0.700 level and forms a positive candlestick pattern, the buyers may lift the price to the upper resistance level of the channel. However, if the price spends some time near the resistance level, gives a breakout, and sustains over the $1 mark, a long-term bullish trend can be seen.
The RSI is at 38 and is heading toward the oversold zone, indicating the bears’ dominance. The MATIC crypto price is below the significant moving averages, which showcases bearish momentum.
Polygon Price Prediction FAQs
What is the MATIC price prediction today?
The price of MATIC is predicted to gain 1.91% to reach $0.73 by today.
What is the Polygon price prediction tomorrow?
According to our analysis, the MATIC price will drop by 3.62% and hit 0.70 by tomorrow.
What is the MATIC price prediction for this week?
The MATIC price may react negatively this week as it has slipped below the 200-day moving average. It may range between $0.72 and $0.65 this week.
What is the current MATIC price prediction sentiment?
The current MATIC price forecast sentiment is neutral according to our technical analysis.
Conclusion
After a positive trend, the Polygon token price has faced resistance from the $0.95 mark. The price has made many attempts to surpass this level but sellers are strong and the price has been stuck in a consolidation phase. According to the analysts, the MATIC price will remain bullish over $0.700, and buying opportunities can be generated over $1.
Technical Levels
Resistance: $0.95 & $1.10
Support: $0.70 & $0.60
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.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.