MATIC coin price is soon to reach the $2.5 mark with the rounding bottom breakout in the 4-hour chart and aims to create a new all-time high.

Polygon is the very first structured and user-friendly platform designed for Ethereum expansion and the development of infrastructure. Its primary component is the Polygon SDK, which is a modular and flexible framework that can be used to build different kinds of applications.

MATIC effectively converts Ethereum into a fully-fledged multi-chain technology aka the Internet of Blockchains. The multi-chain system has a lot in common with other systems like Polkadot, Cosmos, Avalanche, and so on. However, the benefits from Ethereum's protection, its vibrant community, and its openness makes it unique.

Let us look at the Polygon technical analysis now.
<h2>Past Performance of MATIC</h2>
MATIC coin price shows a 25% rise in the <a href="https://www.cryptoknowmics.com/news/matic-token-from-polygon-is-up-40-as-the-crypto-market-recovers/">last five days</a> from the $1.77 mark. Moreover, the price breaks above the $2.2 mark, which was the neckline for the rounding bottom pattern made in the 4-hour chart.

Therefore, traders are getting an excellent entry opportunity at the current prices to join the upcoming bull run.

<img src="https://s3.tradingview.com/snapshots/u/UCr5ZuVo.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/UCr5ZuVo/">MATIC/USD 4-Hour Chart</a>
<h2>MATIC Technical Analysis</h2>
The MATIC coin price action forms multiple bullish candles in the daily chart with long lower price rejection. Thus, the chances of a bull run to create a new all-time high are increasing. 

The pivot points show a resistance level at $2.88 after the $2.5 mark. However, in case the price succumbs below the $2.2 mark, support levels are at the $2 and $1.80 mark.

The RSI indicator at 60% shows a spectacular rise in the underlying bullish sentiments. Furthermore, the MACD indicator shows a rise in fast and slow lines while maintaining a positive alignment. Moreover, the trend in the histogram is increasing with the prices.

In conclusion, the price action shows an amazing breakout entry opportunity with the backing of technical indicators showcasing a rise in buying pressure in MATIC coin.
<h2>Upcoming Trend</h2>
Currently, the MATIC coin price stands slightly above the $2.2 mark, with an intraday growth of 7.35%. The growth will increase once the price gains momentum. Therefore, traders need to make a decision soon to avoid missing out on a price jump.

MATIC Technical Analysis: New All-Time High Hopes With $2.2 Breakout

MATIC coin price is soon to reach the $2.5 mark with the rounding bottom breakout in the 4-hour chart and aims to create a new all-time high.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

MATIC Technical Analysis: New All-Time High Hopes With $2.2 Breakout

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