How high can Polygon Price reach in 2022?
Polygon (MATIC) is a scaling solution for Ethereum, hence its price is significantly influenced by what is going on there. In the coming weeks, Ethereum 2.0 should be released there. This could result in enormous price increases for Ethereum and Polygon in the coming months. There are, nevertheless, a number of unsolved questions. Another scaling solution may become obsolete as a result of Ethereum 2.0. Polygon, on the other side, is trying to make Ethereum a multichain network and to provide a solution for the Ethereum blockchain that is similar to Polkadot.
Bullish Scenario: MATIC might retrace back to support levels $1.63. After retracements, if MATIC manages to break above the resistance level at $1.78 then it would be bullish. Breaking above the $1.91 price level with significant buying volume will lead to a move towards $2.10 and higher.
Bearish Scenario: MATIC has been in a downtrend since the last few months so we don’t have a strong bullish bias for long-term yet. If the support level $1.53 doesn’t hold then it will drop further towards $1.44, $1.31 and below sooner or later.
Bullish Scenario: MATIC might retrace back to support levels $1.63. After retracements, if MATIC manages to break above the resistance level at $1.78 then it would be bullish. Breaking above the $1.91 price level with significant buying volume will lead to a move towards $2.10 and higher.
Bearish Scenario: MATIC has been in a downtrend since the last few months so we don’t have a strong bullish bias for long-term yet. If the support level $1.53 doesn’t hold then it will drop further towards $1.44, $1.31 and below sooner or later.