Polygon was a notable mover on Tuesday, as the token surged by as much as 8% in today’s session. The move saw the cryptocurrency hit a one-month high, following a recent five-day bull run. Solana also rose higher, following a sell-off to start the week.
Polygon (MATIC)
Polygon (MATIC) rose by as much as 8% earlier in today’s session, hitting a one-month high in the process.
Following a low of $0.7033 earlier in the day, MATIC/USD jumped to an intraday peak of $0.7473 on Tuesday.
As a result of this surge, MATIC hit its highest point since June 9, which is the last time the token broke out of a ceiling at $0.7480.
MATIC bulls were unable to breach this ceiling in today’s session, with the price retreating from an earlier high.
This comes despite the relative strength index (RSI) marginally breaking out of a ceiling at 59.00, with a current reading of 59.31.
In the event the index continues to strengthen, the odds of a breakout above $0.7480 will greatly increase.
Solana (SOL)
After dropping by nearly 7% to start the week, solana (SOL) bulls moved to buy the dip, with price now closing in on a fresh multi-month high.
SOL/USD jumped to a high of $22.29 earlier in the day, which is less than 24 hours after almost falling below $20.00.
Tuesday’s peak sees the world’s ninth largest cryptocurrency $0.20 away from a recent two-month high at $22.49.
Looking at the chart, it seems that traders reentered the market after the RSI hit a support level at 65.00
As of writing, price strength is at a reading of 69.05, with the next visible resistance zone at 72.00.
Should today’s momentum extend throughout the week, there is a good chance that solana will climb past $23.00.
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Do you expect solana bulls to maintain current market sentiment? Let us know your thoughts in the comments.
via Eliman Dambell
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