Polygon Price Predictions: Where Will the MATIC Crypto Go After Red-Hot Rally?

The good news continues for investors in Polygon (CCC:MATIC-USD). The Ethereum (CCC:ETH-USD) scaling and infrastructure development platform is up nearly 13% today on a variety of crypto-friendly news. Polygon price predictions are largely bullish today as experts weigh in on its upside potential.

A concept image for the Polygon (MATIC) crypto.
Source: Shutterstock

Rather than one major driver, Polygon’s native crypto, MATIC, is likely being elevated by several stories today. One such example is an announcement detailing a strategic partnership. Today, it was announced that Wanchain and Polygon are teaming up with plans to build a decentralized bridge between the Polygon sidechain and Arbitrum. The bridge will allow direct transfers between the two digital assets. It marks the first instance of decentralized liquidity pools powering a cross-chain bridge, and crypto bulls are buzzing over it.

Additionally, investors are excited ahead of a major event this week. Indeed, Polygon is set to host the zk Summit on Dec. 9. The event will be an opportunity for the crypto to discuss the benefits of “zero knowledge” proofing and also to make a big announcement, which it has teased on Twitter as well as the event site.

Finally, Polygon is also likely getting some lift from a crypto-wide upswing. While MATIC didn’t see the major selloff that cryptos like Bitcoin (CCC:BTC-USD), Ethereum, Dogecoin (CCC:DOGE-USD) and Shiba Inu (CCC:SHIB-USD) did last week, it is likely still benefitting as these cryptos work their way back up. Indeed, after the steep selloff last week saw many digital assets in the red, it seems a reverse of fortunes could be in the cards for the asset class.

Polygon Price Predictions: How Far Can the MATIC Crypto Go?

With Polygon currently sitting at $2.34 per coin, let’s see what the experts think about the crypto going forward.

  • Wallet Investor is notably bullish on MATIC. It set a one-year price target of $3.63 and a five-year forecast of $10.57.
  • Based on technical analysis, Coin Quora thinks Polygon can soar past $2.72 within the year if bulls continue to put pressure on the crypto. It does warn of a bearish streak should the crypto struggle at the $2.26 support level. Long term, the platform is unapologetically bullish on MATIC, however. It sees it going as high as $35 by 2024.
  • Gov Capital is similarly bullish on Polygon. Based on its Deep Learning custom algorithm, it sees the crypto hitting $3.53 within a year, for 57.4% growth. Suspecting consistent growth year to year, it set a three-year prediction of $7.38 per coin.

On the date of publication, Shrey Dua did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/12/polygon-price-predictions-where-will-the-matic-crypto-go-after-red-hot-rally/.

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