In this POL (ex-MATIC) price prediction 2024, 2025-2030, we will analyze the price patterns of POL by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
POL (ex-MATIC) Current Market Status
What is POL (ex-MATIC)
POL (ex-MATIC) is the native cryptocurrency of the Polygon Network. It was launched as an ERC-20 token in 2019. Polygon, formerly known as the MATIC Network, is a layer-2 blockchain that uses a proof-of-stake consensus mechanism.
POL (ex-MATIC) serves as the primary payment token and governance token on the Polygon Network. Users use POL tokens as transaction fees and also gain voting rights on the network. The core Polygon software development kit (SDK) aids the creation and development of decentralized side chains that are interoperable and compatible with the Ethereum blockchain. Significantly, this Ethereum scaling blockchain recently changed the token’s ticker from MATIC to POL.
POL (ex-MATIC) 24H Technicals
POL (ex-MATIC) Price Prediction 2024
POL (ex-MATIC) ranks 32nd on CoinMarketCap in terms of its market capitalization. The overview of the POL (ex-MATIC) price prediction for 2024 is explained below with a daily time frame.
In the above chart, POL (ex-MATIC) laid out a Horizontal Channel also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
At the time of analysis, the price of POL (ex-MATIC) was recorded at $0.3784. If the pattern trend continues, then the price of POL might reach the resistance level of $0.3799 and $0.3906. If the trend reverses, then the price of POL may fall to the support of $0.3728 and $0.3660.
POL (ex-MATIC) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of POL (ex-MATIC) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of POL (ex-MATIC) for 2024.
POL (ex-MATIC) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of POL (ex-MATIC) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current POL (ex-MATIC) market in 2024.
POL (ex-MATIC) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of POL (ex-MATIC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of POL (ex-MATIC).
Comparison of POL with BTC, ETH
Let us now compare the price movements of POL (ex-MATIC) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of POL is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of POL also increases or decreases respectively.
POL (ex-MATIC) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of POL (ex-MATIC) between 2025, 2026, 2027, 2028, 2029 and 2030.
Conclusion
If POL (ex-MATIC) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish POL (ex-MATIC) price prediction for 2024 is $0.8543. Comparatively, if unfavorable sentiment is triggered, the bearish POL (ex-MATIC) price prediction for 2024 is $0.2162.
If the market momentum and investors’ sentiment positively elevates, then POL (ex-MATIC) might hit $1. Furthermore, with future upgrades and advancements in the Polygon ecosystem, POL might surpass its current all-time high (ATH) of $1.29 and mark its new ATH.
This content was originally published by our partners at The News Crypto.