MATIC Technical Analysis: Can Triangle Breakout Rally Surpass $2?

MATIC coin price action shows a bullish trend in the ascending triangle pattern indicating a potential triangle breakout rally surpassing the $2 mark. Key technical points: MATIC prices have increased by 4.58% in the past 24 hours. The uptrend challenges the $1.80 resistance zone. Finally, the 24-hour trading volume of Polygon is $791 Million, marking a 25.04% fall. Past Performance of MATIC MATIC coin price action shows a bullish reversal from the psychological barrier at $1. The reversal rally created a short-term bullish rally resulting in an ascending triangle with the $1.80 supply zone barrier. Moreover, the recent recovery from the support trendline shows almost a 5% jump, increasing the chances of a bullish breakout. Source-Tradingview MATIC Technical Analysis MATIC coin price action shows lower price rejection from the support trendline and challenges the $1.80 supply zone with the new bullish engulfing candlestick. Hence, traders can find a bullish breakout entry opportunity briefly. The crucial daily EMAs (50, 100, and 200-days) showcase a deteriorating bullish alignment, but the recovery rally teases a golden crossover. Moreover, the EMAs maintain a flat sideways trend to support the falling prices. RSI Indicator: The RSI slope shows a chaotic movement in the nearly overbought zone but sustained above the 14-day SMA. Furthermore, the upend continues after sabotaging a bearish divergence. MACD Indicator: The MACD and...