MATIC moves to 10-month high, ATOM extends recent gains – market updates
polygon rose to its strongest point since last April, when prices rose as much as 6% on February 8th. The token surged for a second straight session after suffering a three-day losing streak on Tuesday. Also the cosmos rose in today’s session as it neared recent highs.
Polygon (MATIC) extended a recent rally on Wednesday, with prices jumping to a 10-month high.
After hitting a low of $1.22 on Tuesday, MATIC/USD raced to an intraday high of $1.31 in today’s session.
On today’s move, MATIC/USD climbed to its strongest point since April 26, 2022, when the token peaked at $1.36.
As can be seen from the chart, the price advance has passed the 14-day relative strengthindex (RSI) pushed to 71.00 long-term resistance point.
So far, bullish momentum has not been strong enough to breach this zone, with the index now at 69.83.
If there is a breakout in the coming days, traders are likely to target a ceiling of $1.35.
Another notable move on the hump day was Kosmos (ATOM), which also closed at a recent multi-month high.
ATOM/USD rose to a high of $15.18 earlier in the day after trading at a low of $14.32 on Tuesday.
This led ATOM to approach a long-term resistance level at $15.20 and not far off last Friday’s high of $15.44.
The aforementioned high was the strongest point the cosmos had reached since November 5 and it seems like the bulls are trying to retake it.
As of this writing, the RSI is floating at 64.23 and to achieve the above, a move above the upcoming 65.00 ceiling is needed.
Overall momentum still appears bullish with further higher highs possible as the session progresses.
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Do you expect Cosmos to surge above $15.44 this week? Let us know your thoughts in the comments.
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Source: Crypto News Deutsch