MATIC Price Prediction as Bitcoin Crashes…Lower Targets in Sight?

MATIC Price Prediction: In the face of an extensive crypto crash, Polygon (MATIC) posted a modest 24-hour gain of 0.66%. With the crypto market cap dwindling to around $1 trillion, MATIC’s price currently stands at $0.57. Is a dip to $0.30 on the horizon for MATIC?

Why are Cryptos Crashing?

Several overarching elements consistently impact the value of cryptocurrencies. Yet, the disclosure that Elon Musk’s companies have offloaded a considerable amount of their Bitcoin holdings has amplified the ongoing market decline. This considerable sale by such a prominent player has heightened the existing market concerns.

MATIC Price Analysis: Why the Mild Increase for MATIC?

As cryptos faltered, MATIC registered a price of $0.57, translating to a 0.66% increment within 24 hours. However, the 7-day performance depicts a 15.03% reduction. The widespread bearish sentiment has momentarily hampered MATIC’s expected surge.

In a previous MATIC price prediction, we laid out a potential roadmap for MATIC prices. Looking at the chart below, we can see how MATIC reached roughly those exact prices areas slightly earlier than predicted.

MATIC Price Prediction: Is $0.30 the Next Stop for MATIC?

To envisage further MATIC price targets, we focus on subsequent support tiers. For MATIC, if the crypto market continues to drop lower, we might see lower price targets than the ones previously predicted:

  1. Target 1: $0.50
  2. Target 2: $0.35
  3. Target 3: $0.20

Will MATIC’s Price go UP Again?

Amid the current market downturn, MATIC’s resurgence remains uncertain. A revival hinges on an overall positive market sentiment, prompting investors to re-engage. Typically, short-term traders might exploit such low prices in the days following a crash.