Once again, our previous Polygon MATIC price prediction is proving accurate. After the rising wedge collapse, the price of Polygon crypto has surged downward. The measured goal of this collapse is the wedge’s bottom at $0.72, which is already 25% below the previous week’s high.

Once again, cryptocurrencies are in disarray as the Bitcoin price has broken the daily upswing. The majority of cryptocurrencies are 20%-25% below their previous peaks. The current price of Polygon MATIC is $0.785. The price has decreased by 4.2% from yesterday. According to analysts, the markets may see a further decline before resuming an upward trend.

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Polygon (MATIC) Daily Chart

According to Polygon MATIC news, the Polygon Accelerator and Encode Club have been launched by the project. The eight-week online accelerator would take the most promising early-stage initiatives from across the globe and help them mature into legitimate startups.

According to DeFi Llama, Polygon is the fourth largest blockchain by TVL. There is now $2.09 billion worth of cash locked across several network protocols. Nonetheless, figures indicate that the TVL has decreased by fifty percent since April 2022 owing to the falling values of digital assets. You may acquire MATIC by registering on the leading cryptocurrency exchange Binance.

On the MATIC USD price chart, a rising wedge collapse is clearly visible. Bears usually target the bottom of the wedge, thus such collapses are often quite risky. Therefore, a fair estimate of the lowest possible price would be $0.72. Nonetheless, the price might possibly reach $0.61 owing to many confluences.

The aforementioned pessimistic Polygon MATIC price forecast is also contingent on BTC price behavior. If Bitcoin has a significant rebound before reaching $20,000, altcoins are likely to follow. On the other side, a daily close below $20,000 would ignite a market-wide massacre. This would put bears in the driver’s seat to pursue fresh price lows.