Polymath (POLY) is an Ethereum-based token that is used to launch security tokens. Just like Ethereum Virtual Machine (EVM) that is used by projects like Velas (VLX) is launching <a href="https://www.cryptoknowmics.com/news/decentralized-bonds-to-the-rescue-new-era-for-financial-trading/">decentralized</a> applications (DApps), Polymath uses the Token Studio to allow projects to create, issue and manage security tokens launched on it.

Polymath (POLY) was founded in 2017 by Chris Housser and Trever Koverko. It is open-sourced and allows developers to issue ERC1400 security tokens that are secured and can adapt to the requirements of the issuer. It ensures that project owners can set rules on jurisdiction and how their security tokens can be transferred to avoid litigation.
<h2><strong>Present and Past Status of Polymath (POLY)</strong></h2>
In the last 24 hours, the price of Polymath (POLY) has decreased by 1.56%. The current price of POLY at the time of writing is $0.3411. The trading volume of Polymath (POLY) moved from $26,692,711 on May 3rd to $29,652,435 presently. This represents 11% increase in the past 24 hours. Hence, investors can still reverse the present trend with their increased buying pressure.

In the past seven days, the price of Polymath (POLY) has decreased by 11.84% after it traded at $0.3836 on April 27th, and closed at $0.3430 on May 3rd. The trading volume of Polymath (POLY) moved from $29,230,760 on April 27th to $26,692,711 on May 3rd. This represents 8.68% decrease in the past 7 days. Hence, investors can reverse the present trend by increasing their buying pressure.
<h2><strong>Comparison of Polymath (POLY) with Bitcoin (BTC)</strong></h2>
<img class="alignnone wp-image-234374 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/05/b4aSPN1e.png" alt="" width="1280" height="595" />

<strong>Source</strong>: https://www.tradingview.com/x/b4aSPN1e/

From the chart above, we can observe that both Bitcoin (BTC) and Polymath (POLY) has shown a downtrend in recent days. However, the information that is available on CoinGecko shows that Polymath has decreased by 18.3% in the past 14 days when compared to Bitcoin decreased by 8.2% within the same duration.

This shows that Bitcoin investors had experienced minimal lose in their investment when compared to Polymath investors.
<h2><strong>Price Analysis of Polymath (POLY) from different Indicators</strong></h2>
<img class="alignnone wp-image-234375 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/05/qkZCC9kO.png" alt="" width="1280" height="595" />

<strong>Source: </strong>https://www.tradingview.com/x/qkZCC9kO/

The chart above shows the relative strength index (RSI) of POLY/USDT on a 1day chart. The relative strength index value ranges from 0 to 100 and shows the region of oversold, weak/neutral trend, strong trend, and overbought trend. The value of the RSI value of POLY/USDT from the chart above is 33.40 which shows that the present trend is weak.

<img class="alignnone wp-image-234376 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/05/B61HaO72.png" alt="" width="1280" height="595" />

<strong>Source: </strong>https://www.tradingview.com/x/B61HaO72/

The chart above shows the Ema Ribbons indicator for POLY/USDT on a 1day chart. Ema ribbon is a momentum indicator that contains many moving averages which determine the type of trend present. From the chart, since the Ema Ribbons are above the recently formed candlesticks, we can deduce that the present dip when continues for some days. However, a strong sentiment in the Bitcoin market can reverse it as we have seen in the chart above that Polymath follows the same trend as Bitcoin.

<strong>Present Candlestick Interpretation</strong>

<img class="alignnone wp-image-234377 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/05/kqPBesgq.png" alt="" width="1280" height="595" />

<strong>Source: </strong>https://www.tradingview.com/x/kqPBesgq/

The present candlestick looks like an inverted hammer that is formed on a downtrend. If this comes true is buyers are having their way as seen by its long wick, we can expect a bullish run in the price of Polymath (POLY) soon.
<h2><strong>Key Level Price Prediction for Polymath (POLY)</strong></h2>
<img class="alignnone wp-image-234378 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2022/05/Hh3OBu9k.png" alt="" width="1280" height="595" />

<strong>Source: </strong>https://www.tradingview.com/x/Hh3OBu9k/

The chart above represents the different resistance and support levels of POLY/USDT on a 1day chart. We can deduce the following from the chart:
<ul>
 	<li>The price of Polymath (POLY) might continue to dip until it gets to the $0.3084 support level. If this happens, there is a possibility of a price action that will make a triple bottom to be formed. This would surge to the price of Polymath close to the $0.5938 at resistance3 level.</li>
 	<li>Because of the present increase in trading volume as seen formation of an inverted hammer, the price of POLY might experience a bullish reversal soon so as to recover the recent losses made due to its dip.</li>
</ul>
<strong>Tradingview Technical Prediction on Polymath (POLY)</strong>

https://www.tradingview.com/symbols/POLYUSD/technicals/

From the link above, we can deduce that out of the 27 moving averages and oscillators indicators considered, 14, 9, and 3 indicate sell, neutral, and buy respectively. This shows that investors are more pro-sell in recent time. This can further drop the price of Polymath soon.
<h2><strong>Market Sentiments on the Price of Polymath (POLY)</strong></h2>
<h3><b>Price prediction</b></h3>
According to Price prediction, the price of POLY will reach a minimum and maximum price of $0.52 and $0.60 respectively in 2022.
<h3><strong>Digitalcoinprice</strong></h3>
According to Digitalcoinprice, the price of POLY will reach a minimum and maximum price of $0.42 and $0.48 respectively in 2022.
<h2><strong>Our Polymath (POLY) Price Prediction in 2022</strong></h2>
From the key level chart above, we can deduce that the minimum price of Polymath (POLY) in 2022 will be $0.3084 while the maximum price of POLY will be in the range of $0.3807 and $0.9535 in 2022.
<h2><strong>Conclusion</strong></h2>
Considering the recent data on Polymath, investors in Bitcoin would have better profit in long-term when compared to Polymath investors. However, major development and partnership in the Polymath ecosystem can lead to a strong bullish run in its price.

Polymath (POLY) Price Prediction 2022- Will POLY’s Price Hit $0.95 in 2022?

Chukwuemeka Raphael is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.

Polymath (POLY) Price Prediction 2022- Will POLY’s Price Hit $0.95 in 2022?

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