Polygon price prediction remains bullish, as MATIC has crossed the $0.9050 level, which is extended by the 50-day moving average. The MATIC/USD pair began trading at $0.9330 and has since reached a high of $0.9420 and a low of $0.9120.

The MATIC/USD currency pair is trading at $0.9070, up 5% in the last 24 hours. Furthermore, the price has risen by more than 6% in just a few days.

Polygon NFT Sales Increased 191%

Polygon’s NFT growth outperformed comparable statistics from most of its competitors, including Ethereum, Avalanche, and Solana. The Polygon NFT indicators indicated an increase in the number of NFT trades. The number of unique addresses that purchased NFTs worth more than $100,000 in the last three days has increased, as has the number of NFT trades.

On November 30, the cryptocurrency monitoring website Messari tweeted about Polygon-based NFT sales. Messari claims that Polygon-based NFT sales have increased 191% since the end of September, the best performance of any blockchain.

To achieve this milestone, the infrastructure of leading Web2 enterprises has been enhanced with Polygon’s capabilities. Starbucks, Instagram (Meta), Reddit, and a slew of other websites have already tapped into the Layer 2 blockchain’s capabilities.

Polygon is currently fourth among all chains in terms of total NFT sales since the start of the year. It would be more exciting to see Polygon’s success influence the price of its native coin MATIC, which powers its network. As the network evolves, MATIC/USD is currently rising.

Phantom Wallet Supports Ethereum, Polygon Multichain Strategy

Phantom is a non-custodial web3 wallet and the most well-known cryptocurrency wallet for the Solana blockchain. With Phantom’s latest deployment, the largest wallet on Solana, MetaMask, and other well-known non-custodial wallets may face competition. Phantom, the most well-known Solana wallet, announced on November 29 that it will be adding support for Polygon and Ethereum.

Phantom also stated that the new tool’s primary goal is to add integrity to web 3.0, including non-fungible tokens (NFTs). According to the initiative, its collaboration with the Polygon team will allow NFTs, games, and applications powered by Polygon to gain some cohesion.

Polygon Studios CEO Ryan Wyatt stated in a tweet on November 29 that all of your favorite markets and wallets have joined the big Enterprise, DeFi, and Gaming teams who prefer to build on Polygon. The announcement benefits the network’s native token, MATIC/USD, which is rising.

Fed Might Slow the Rate of Its Monetary Policy

Federal Reserve Chairman Jerome Powell spoke on November 30 at the Hutchins Center on Fiscal and Monetary Policy about economic conditions, inflation, and the changing nature of the labor market. Powell hinted that modest interest rate increases were possible.

Markets now expect a 50 basis point increase after four consecutive 0.75 percentage point increases. Many investors believe the Federal Open Market Committee (FOMC) meeting on December 3rd will slow the Fed’s tightening monetary policy.

Furthermore, because the Fed may result in more gradual rate increases, the cryptocurrency and stock markets have reacted positively. Furthermore, MATIC/USD rose after Jerome Powell’s speech.

Polygon Price Prediction – Daily Technical Levels

Support Resistance
0.867 0.970
0.801 1.007
0.764 1.073
Pivot Point: 0.904

Polygon Price Prediction – MATIC is in Sight of $1 Now, Can it Reach $10 Going into 2023?

Polygon price prediction remains bullish above $0.8000, and it has already completed the 23.6% Fibonacci retracement level. On the plus side, MATIC has breached the 23.6% Fibonacci retracement level and is now en route to the next resistance level of 38.2% retracement at $0.9730.

Leading indicators such as the RSI and MACD indicators are in a buying zone, implying that the chances of a bullish trend remain high.

MATIC Price Chart – Source: Tradingview

Polygon’s immediate support remains at $0.8000, and a break below this level could expose MATIC to $0.7060. MATIC will soon surpass $1, and it has the potential to reach $10, but not anytime soon.

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