MATIC coin price shows a rounding bottom breakout rally challenging the $1.75 resistance level. Will buyers sustain the breakout rally?

Key technical points:
<ul>
 	<li style="font-weight: 400">MATIC prices gained 26% in the last two weeks.</li>
 	<li style="font-weight: 400">Next, the 50 and 200-day EMA signals a potential bullish crossover.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Polygon is $867 Million, marking a 4.71% rise.</li>
</ul>
<h2>Past Performance of MATIC</h2>
MATIC coin prices declined by 20% in February and early March, resulting in the $1.5 fallout. However, the reversal from the $1.33 level resulted in an upside rally of 26%, resulting in a relapse in all the crucial daily EMAs. 

<img src="https://s3.tradingview.com/snapshots/z/Z3ZtTPPV.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/Z3ZtTPPV/">Tradingview</a>
<h2>MATIC Technical Analysis </h2>
MATIC prices show a rounding bottom pattern breakout with a neckline at $1.60. The price action shows a post-retest reversal with a morning star pattern formation. Moreover, the recent bullish approach undermines the previous higher price rejection candles. 

The crucial daily EMAs (100 and 200-days) show a flattish movement and avoid a bearish crossover. Moreover, the recent rally brings a reversal in the 50-day EMA, increasing the chances of a golden crossover. 

RSI Indicator: The RSI slope maintains the uptrend after surpassing the 14-day in the nearly oversold zone. The RSI line may shortly creep into the overbought zone as the underlying bullish grows.

MACD Indicator: The MACD and signal lines maintain a small bullish spread while crossing above the zero value mark. However, the falling trend in bullish histograms highlights an underlying weakness in the uptrend.

In a nutshell, the MATIC technical analysis emphasizes the breakout rally continuation.
<h2>Upcoming Trend </h2>
The MATIC coin price might shortly cross above $1.75 and increases bullish attention. Moreover, the upcoming golden crossover will ensure a surge in buying pressure to boost the rally towards the $2 mark. 

Support Levels: $1.65 and $1.5

Resistance Levels: $1.75 and $2

MATIC Technical Analysis: Will Breakout Rally Reach $2?

MATIC coin price shows a rounding bottom breakout rally challenging the $1.75 resistance level. Will buyers sustain the breakout rally?

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: Will Breakout Rally Reach $2?

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