Polygon rose to its strongest level since final April, as costs rose by as a lot as 6% on Feb. 8. The token surged for a second straight session, after snapping a three-day dropping streak on Tuesday. Cosmos additionally surged larger in at present’s session, because it moved nearer to latest highs.
Polygon (MATIC)
Polygon (MATIC) prolonged a latest rally on Wednesday, with costs leaping to a ten-month excessive.
Following a low of $1.22 on Tuesday, MATIC/USD raced to an intraday excessive of $1.31 in at present’s session.
Right now’s transfer noticed MATIC/USD climb to its strongest level since April 26, 2022, when the token was at a excessive of $1.36.
As could be seen from the chart, the surge in value despatched the 14-day relative energy index (RSI) to a long-term resistance level of 71.00.
To this point, bullish momentum has not been sturdy sufficient to go this zone, with the index now monitoring at 69.83.
Ought to a breakout happen over the approaching days, it’s seemingly that merchants will goal a ceiling at $1.35.
Cosmos (ATOM)
One other notable mover on hump day was cosmos (ATOM), which additionally closed in on a latest multi-month excessive.
ATOM/USD ascended to a peak of $15.18 earlier within the day, which comes after buying and selling at a low of $14.32 on Tuesday.
This resulted in ATOM shifting nearer to a long-term resistance degree at $15.20, and never removed from final Friday’s excessive at $15.44.
The aforementioned high was the strongest level that cosmos had hit since November 5, and it seems as if bulls need to recapture this.
As of writing, the RSI is monitoring at 64.23, and to be able to obtain the above, a transfer past an upcoming ceiling of 65.00 should happen.
Total momentum nonetheless appears to be bullish, with additional larger highs potential because the session progresses.
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