Polygon(MATIC) price that amazed the crypto space in early 2021, had absorbed a falling momentum of-let. Despite multiple attempts to regain the lost positions yet the price was overpowered by the bears. And hence remained nearly 60% to 70% below the ATH until a substantial boost escorted the price with a 25% jump.
Currently, the price is on the verge to test the immediate resistance levels at $1.17 after breaking the descending channel. After hitting the monthly lows around $0.62, MATIC price rebounded and surged nearly 84% to attain the current levels above $1.09. However, the price appears to have gained enough momentum to range towards the upcoming resistance levels.
The price despite an acute sell-off maintained above the trend line, failing to plunge further. The price calculated by the trading view has already jumped more than 18%. And further, an aggressive rally may hit the pivotal levels around $1.27 in order to confirm a bull run. No doubt pullbacks are inevitable, yet the bulls will manage to keep up with the uptrend.
The significant barrier lies at $1.5 which could ascertain the uptrend and push the price to $1.74. Interestingly, the current 80% march in the past couple of days was put in place with a reduced volume. Therefore, an induced volume could easily rally the MATIC price not only above $2 but also extend to $5 in the coming months.