Polygon is a cryptocurrency that aims to be the first digital commonwealth, an ecosystem of decentralized applications and communities. Polygon is built for people to self-organize in ways that suit them, and with an eye towards fairness and sustainability.

With a 400% increase in value in the past two weeks, Polygon has skyrocketed up the charts. With the release of its whitepaper, Polygon’s future looks brighter than ever. Polygon is a 3rd generation blockchain, and the 1st blockchain to be launched with a truly decentralized AI network. In addition, its open source HyperNet development kit allows for an easy transition to the GPU, making it possible to scale up to almost infinite TPS.

Summary of the situation

  • Polygon’s share price forecast highlights MATIC’s rising share price in a lagging market.
  • Polygon is currently under tremendous pressure from buyers, which has pushed it to a new ATH of $2.6.
  • A decisive close above the 151.01% Fibonacci breakout level at around $2.6 could see the crypto asset move into higher territory.
  • If Polygon gets out, the price will likely be between $1.6 and $1.9.

At the time of writing, the overall sentiment in the crypto currency market is bearish, as the number one crypto asset, bitcoin, continues to experience negative price action. But as the market continues to bleed, a small cryptocurrency has emerged to compete against all odds.

Price forecast per polygon: Price Overview

At the time of writing, Polygon is trading at around $2.6, after a weekly gain of around 140%. This makes Polygon the most profitable crypto asset to date. Polygon was developed as a scaling solution for Ethereum and is rapidly gaining interest among cryptocurrency enthusiasts due to its recent success in the bear market. The cryptocurrency was created as a layer 2 solution for the Etheruem blockchain network to provide greater scalability and multi-chain capabilities. According to data obtained by DappRadar, the crypto asset has gained more than 75,000 active users in recent days. As Ethereum continues to suffer from shortages and gas costs, Polygon seems to be emerging as an attractive replacement. Polygon now offers its users faster transaction speeds and lower fuel costs by bringing more DApps traffic to its platform.

Price changes in the last 24 hours

Source: TradingView Polygon Price Prediction $2.6 | Shares of Polygon have risen 30% in the past 24 hours, reaching a new ATH of $2.6. If the uptrend continues, the cryptocurrency will likely approach the $3 mark. However, it is likely that Polygon will initiate a price correction that will lead to a pullback of the cryptocoin towards the $1.9 area. This would represent a 10% reduction from the current price. Typically, when a cryptocurrency starts the week with a rise at the beginning of the week, this is followed by a sharp drop in prices leading to local lows being recorded. In the case of the polygon, $1.5 is probably a local lower bound. Although the price drop to $1.5 is exaggerated, cryptocurrency investors should look for the crypto asset to retest the 78% Fibonacci retracement level, currently at $1.7. Even after the polygon pullback, price action will remain bullish and attempt to test the $2 area shortly after the downtrend ends. If Polygon manages to break through the $2 barrier for the second time, the second-tier ladder token will embark on a massive rise that will likely see it cross the Fibo expansion levels by 141% and 161% at $2.4 and $2.6, respectively.

polygonal graph over 4 hours

Source: TradingView Polygon Price Prediction $2.6 | On the 4-hour chart, the MRI technical indicator supports the short-term price correction by flashing a yellow downward arrow on the price chart of this currency. The MRI indicator tries to indicate that Polygon is likely to experience a price decline if the upward movement continues. This is represented on the chart by a red candle, which indicates the beginning of the price reversal. Therefore, traders should keep an eye on Polygon’s price action for the next 2 days. In any case, Polygon’s price momentum seems poised for a small bounce lower before the start of a larger rally higher.

Supplement

If Polygon drops to the 61 percent retracement level, currently at around $1.5, the bullish narrative will be broken. Any price movement above this level will likely send the cryptocurrency back to the trash can. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.