We study the problem of estimating the maximum matching size in graphs whose edges are revealed in a streaming manner. We consider both insertion-only streams and dynamic streams and present new upper and lower bound results for both models. On the upper bound front, we show that an $α$-approximate estimate of the matching size can be computed in dynamic streams using $\widetilde{O}({n^2/α^4})$ space, and in insertion-only streams using $\widetilde{O}(n/α^2)$-space. On the lower bound front, we prove that any $α$-approximation algorithm for estimating matching size in dynamic graph streams requires $Ω(\sqrt{n}/α^{2.5})$ bits of space, even if the underlying graph is both sparse and has arboricity bounded by $O(α)$. We further improve our lower bound to $Ω(n/α^2)$ in the case of dense graphs. Furthermore, we prove that a $(1+ε)$-approximation to matching size in insertion-only streams requires RS$(n) \cdot n^{1-O(ε)}$ space; here, RS${n}$ denotes the maximum number of edge-disjoint induced matchings of size $Θ(n)$ in an $n$-vertex graph. It is a major open problem to determine the value of RS$(n)$, and current results leave open the possibility that RS$(n)$ may be as large as $n/\log n$. We also show how to avoid the dependency on the parameter RS$(n)$ in proving lower bound for dynamic streams and present a near-optimal lower bound of $n^{2-O(ε)}$ for $(1+ε)$-approximation in this model. Using a well-known connection between matching size and matrix rank, all our lower bounds also hold for the problem of estimating matrix rank. In particular our results imply a near-optimal $n^{2-O(ε)}$ bit lower bound for $(1+ε)$-approximation of matrix ranks for dense matrices in dynamic streams, answering an open question of Li and Woodruff (STOC 2016).