Polygon Price Prediction 2025: POL Rebrand Points to Strong Future Potential

Key Takeaways

• MATIC was originally launched in 2017.
• Polygon’s migration from MATIC to POL started in September 2024. 
• One Polygon price prediction says POL could reach $2.50 in 2025. 

Polygon recently migrated its native token, MATIC, to the new token name POL to support recent upgrades to Polygon and better brand alignment.

Signs looked promising in early September 2024 when the migration from MATIC to POL started. The crypto’s market cap began to increase, although whether it can maintain its momentum once the migration ends is another matter.

On Oct. 17, 2024, POL was worth about $0.366.

But what is a Polygon (POL)? How does Polygon work? Let’s see what we can discover and look at some of the Polygon Price Predictions made as of Oct. 17, 2024.

Polygon Price Prediction

Let’s examine some of the Polygon Ecosystem Token price predictions being made by CCN on Oct. 17, 2024. It is crucial to remember that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

Polygon Price Prediction 2024

In 2024, POL will likely continue consolidating around its key support level of $0.36, as it has shown strong resilience there. If a breakout occurs, the price could reach $0.70, possibly revisiting the $1.30 yearly high if broader market conditions turn bullish.

Polygon Price Prediction 2025 

By 2025, Polygon could benefit from increased adoption and continued development of its ecosystem, pushing the average price towards $1.50. Market growth and technological advancements may trigger a bullish run, with a potential peak around $2.50, although a minimal support level near $0.60 could still hold during periods of consolidation.

Polygon Price Prediction 2030

Looking to 2030, Polygon’s long-term prospects seem promising, with the possibility of significant growth as the platform matures. A minimum price of around $1.20 could reflect sustained support. At the same time, widespread adoption and a favorable market environment could drive the price to $5.00, with an average price of $3.00 based on overall network growth and utility.

Polygon Price Analysis

POL’s recent low of $0.35 on Sept. 6 may signal the end of a WXY correction.

Polygon has been trading sideways since then, and a breakout from the descending triangle could mark the start of a new bullish phase.

POL is currently trading sideways | Credit: Nikola Lazic/TradingView

Short-term Polygon Price Prediction

POL reached a yearly high of $1.30 on March 13, after an 85% increase from January’s low of $0.70.

However, the price fell to $0.36, forming a double bottom in August and September.

This low solidified $0.36 as crucial support. A recent 25% rally to $0.45 suggests the start of an uptrend, with a potential five-wave pattern targeting $0.70, offering an 82% gain from current levels if the bullish outlook holds.

The Polygon price prediction for the next 24 hours hinges on whether or not POL can stay above $0.36.

Polygon Average True Range (ATR): POL Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.

A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On Oct. 17, 2024, Polygon’s ATR was 0.0051, suggesting low market volatility for POL.

Polygon Relative Strength Index (RSI): Is POL Overbought or Oversold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold.

Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish. 

On Oct. 17, 2024, the Polygon RSI was 43, indicating bearish conditions.

Polygon and the CCN Index

The CCN Index uses a range of indicators to measure a cryptocurrency’s price momentum.

On Oct. 17, 2024, Polygon scored 32 on the CCN Index, suggesting somewhat weak momentum.

POL Price Performance Comparisons

Polygon Price History

Let’s take a look at some of the key dates in the POL price history . It is important to remember that past performance is no indicator of future results, but knowing someting about what POL has done in the past can help give us some much needed context when it comes to making or interpreting a POL price prediction.

Polygon Market Cap

Market capitalization, or market cap, is the sum of the total number of POLs in circulation multiplied by their price.

On Oct. 17, 2024, Polygon’s market cap was $2.78 billion, making it the 33rd-largest crypto by that metric. 

Who Owns the Most Polygon?

On Oct. 17, 2024, one wallet held nearly 35% of the supply of POL.

Richest POL Wallet Addresses

As of Oct. 17, 2024, the five wallets with the most POL  were:

• 0x5e3ef299fddf15eaa0432e6e66473ace8c13d908. This wallet held 3,493,706,128 POL or 33.99% of the supply.
• 0x29e7df7b6a1b2b07b731457f499e1696c60e2c4e. This wallet held 2,701,542,859 POL or 26.29% of the supply.
• 0x401f6c983ea34274ec46f84d70b31c151321188b. This wallet held 1,641,799,522 POL or 15.97% of the supply.
• 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet, listed as Binance, held 884,772,218 POL, or 8.61% of the supply.
• 0xc984295ad7a950fb5031154bcfc0b6267b948706. This wallet held 247,099,115 POL or 2.4% of the supply.

Polygon Supply and Distribution

From the Polygon Whitepaper

Although POL does not have its own technical documentation, or whitepaper , Polygon, which was then known as the Matic Network, does. It says that while people are interested in blockchain technology, many platforms slow down when they get busy, thus costing people time and money.

Although some blockchains offer solutions, they do so without supporting decentralized applications (dApps), according to the documentation.

The whitepaper says: “Matic Network strives to solve the scalability and usability issues while not compromising on decentralization and leveraging the existing developer community and ecosystem.”

What Is Polygon?

The Polygon platform, originally called Matic, allows different blockchains to link up. Polygon can be seen as an enhanced Layer-2 scaling solution with a cross-chain facility. 

Sidechains linked to the main Polygon blockchain are powered by the POL token.

How Polygon Works

Polygon is a main blockchain with side chains running off it. It can also link to other blockchains. 

POL rewards people who validate transactions throughout the Polygon ecosystem. Users can also buy, sell, and trade it on exchanges. 

Is Polygon a Good Investment?

It is perhaps a little too early to tell right now. As always with crypto, you must do your own research before deciding whether or not to invest in POL.

Will Polygon go up or down?

No one can really tell right now. While the Polygon crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can and do go down and up. 

Should I Invest in Polygon?

Before you decide whether or not to invest in Polygon, you will have to research POL and other coins and tokens, such as Optimism (OP). Either way, you must also ensure you never invest more money than you can afford to lose.

Technical analysis by Nikola Lazic.

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