As the year 2021 is coming to an end, many altcoins are gaining bullish momentum to propel in order to end the yearly trade on a bullish note. The previous crash had dragged the price too as low as $0.6 and since then the asset followed a calculated rally. However, for the past couple of days, the MATIC price is registering huge bullish candles, breaking the crucial resistance levels.
The recent acquisition of ZK start-ups’ Mir protocol by Polygon has added another feather to the hat which also fueled the bull rally. In a recent update, Polygon rolls out Polygon Cares, where one can onboard their project in order to build an ecosystem open for everyone. Moreover, constant collaborations and partnerships have heavily impacted the platform, yet the MATIC price still remains a little skeptical.
Matic price is attempting to pierce through the mandatory resistance levels in between $2.4 and $2.5. If the asset is successful in clearing these levels, then a healthy uptrend beyond the ATH is quite possible. Else if the asset gets exhausted, then the asset could revisit the middle levels of the parallel channel at $2.3 yet again before a notable bounce.
However, the MATIC price still appears to be primed to rally beyond the current ATH at $2.68. Yet the RSI is pretty bullish and yet to visit the overbought levels. But the trading volume has slashed more than half but the MACD also being bullish laids down a bullish scenario for the asset very soon.