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The price expectation for Polygon’s MATIC is bullish, with an increase since November 22nd. After starting at $0.78, the cryptocurrency gained 7% in its first day and a half to reach $0.84 on November 23.
Polygon / Matic Price Prediction and Technical Analysis
The Relative Strength Index (RSI) is currently at 48.0 and moving averages (MAs) show that MATIC is just below its 20-day moving average of $0.86, with longer MAs pointing to a reading above $1.00. The Bollinger Band (BB) points to a level between $0.68 and $1.05 for the MATIC/USD pair, which means there is some resistance to the upside.
MATIC has averaged between $0.75 and $0.94 over the past five months, yet has struggled to break above $1 and fall below $0.68. To break out of this zone, we will have to wait for good news for Polygon, such as a partnership (eg with YouTube) or a rally in the global crypto market.
We also need to consider larger economic factors such as the bear market and the collapse of crypto exchange FTX that can have a significant impact on the price of MATIC and many other cryptocurrencies.
If MATIC remains above $0.75, the bulls may hold power for the long term; still the $0.93 resistance should be broken for short-term gains. If MATIC falls below $0.75, it may fall further towards $0.65 and perhaps reach $0.53 in the short to medium term.
MATIC’s recent rise of 7% is a positive sign for the cryptocurrency and could serve as an indication of further gains. Still, the price remains firm between $0.75 and $0.94 due to larger economic factors. We need good news on Polygon or on the global market if MATIC is to break out of this zone.
Other crypto projects to watch
Now that MATIC has probably already seen most of the action and may well remain stuck at its current level, there are pre-sale crypto projects in the early stages of development that have a very good chance of making money in the short term. D2T, TARO, and IMPT are examples of these projects that are preparing to go live next year and bring big gains to early investors.
Dash 2 Trade (D2T)
Dash 2 Trade is a trading intelligence platform on the Ethereum blockchain that will soon be ready to provide investors with real-time analytics and social trading data. So far, D2T has raised $6.9 million in pre-sales and plans to be added to LBank Exchange and BitMart Exchange in the first quarter of 2023.
Visit the Dash 2 Trade Presale
Robot Era (TARO)
RobotEra is a sandbox metaverse on the Ethereum blockchain that will begin an alpha testing phase in the first quarter of 2023. Participating players can control robots and build and decorate the virtual world with non-fungible token (NFT)-based goods, buildings and other objects.
Currently, you can buy TARO tokens for 0.02 USDT each, but in the next phase of the presale, this price will increase to 0.025 USDT each.
Visit the RobotEra Presale
IMPT is a CO2 credit marketplace that is also based on the Ethereum blockchain. Through IMPT’s platform, users can trade and earn NFT footprints by shopping at one of many climate-friendly retailers.
By representing NFTs as carbon credits, IMPT can make it easy to track these credits and avoid many of the problems in today’s carbon credit market. IMPT’s presale has already raised more than $13 million, making it one of the top performing presales today. The project also has partnerships with large companies such as Amazon, Microsoft and Samsung.
Visit the IMPT Presale