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Polygon’s MATIC has been climbing steadily since Nov 22. After starting the day at $0.78, it gained 7% over the next day and a half to reach its current price of $0.84 at the time of writing on November 23.
Polygon / Matic Price Prediction and Technical Analysis
The RSI is currently sitting at 48.0, while the moving averages (MA) show that the MATIC is trading well below the 20-day MA at around $0.86, with the larger MA showing a value around or above $1.00. Bollinger Bands (BB) MATIC points to a range between $0.68 and $1.05 for/USD, suggesting some resistance above this range.
While MATIC has mainly traded within the $0.75 to $0.94 range over the past five months, it has also made brief attempts at prices above $1 and below $0.68. To break out of this range, there will likely be some good news for Polygon such as a major partnership (such as with YouTube) or a general crypto market rally.
Additionally, we must take into account macroeconomic factors such as bearish cryptocurrencies and any factors Result from FTX which can affect the price behavior of MATIC and the wider market, such as regulation news,
Overall, if MATIC holds above $0.75 then the bulls are in control on the longer time frame; However, a break above $0.93 would be needed for short-term gains. If MATIC breaks below $0.75, it could see further losses around $0.65 and possibly as low as $0.53 in the short to mid term.
In short, MATIC’s recent 7% jump is a positive sign for the cryptocurrency and could be a sign of more upside to come. However, it remains relatively restrained within the range of $0.75 – $0.94 due to macroeconomic factors and will require some good news or broader market gains to break out of this range.
Other Crypto Projects to Watch
While MATIC has already seen a huge increase in its price and may remain flat for the foreseeable future, D2T, TARO and IMPT are all still in their early stages of development and are a great way to invest when they are ready to launch. Could be a wonderful place.
Dash 2 Trade (D2T)
Dash 2 Trade is a trading intelligence platform that will soon provide real-time analytics and social trading data to investors. So far, D2T has raised $6.9 million and plans to list on BitMart Exchange and LBANK Exchange early next year.
Robotera (Tarot)
RobotEra is an Ethereum-based sandbox metaverse that will release its alpha version in the first quarter of 2023. NFT-based land, construction, and other misc. Belongings. TARO is currently trading at 0.02 USDT. However, the price will increase to 0.025 USDT during the next phase of its pre-sale.
IMPT (IMPT)
IMPT is a carbon credit marketplace that runs on Ethereum. It allows users to earn and trade NFT-based carbon offsets, which can be earned by making purchases with eco-friendly retailers. By tokenizing carbon credits in the form of NFTs, IMPT makes it easier to track credits and circumvents some of the issues that previously plagued carbon markets. IMPT’s pre-sale has raised $13 million to date, making it one of the most popular sales in crypto currently. the project is done announced some major partnerships already.
