Dogecoin rose by over 10% to start the week, as sentiment in cryptocurrency markets remained mostly bullish. The global market cap for crypto is up by 2.34% at the time of writing, which comes as a red wave swept through global stock indices. Polygon was another notable gainer on Monday.
Biggest Movers: DOGE, MATIC Rally to 2-Month Highs on Monday
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Dogecoin (DOGE)
Dogecoin was a notable gainer on Monday, as the meme coin rallied past a key resistance level during the session.
Following a low of $0.06068 on Sunday, DOGE/USD raced to an intraday peak at the $0.06525 mark.
This surge saw dogecoin break out of a ceiling at $0.0640, hitting its highest point since August 31 in the process.
One catalyst for the move was a breakout that occurred at the 65.00 level on the 14-day relative strength index ( RSI).
Currently, the index is tracking at 65.94, with remaining bulls more than likely targeting the 70.00 level.
Earlier gains have somewhat slipped, with DOGE now trading at $0.06407.
Polygon (MATIC)
In addition to dogecoin, polygon (MATIC) also surged strongly on Monday, as the cryptocurrency reached a multi-month high
MATIC/USD jumped to a peak at $0.6315 to start the week, which comes a day after trading at a low of $0.56.
Mondayās high pushed polygon to its strongest point since August 16, when price reached a top at $0.638.
As a result of the rally, MATICās RSI rose to a three-month high at 68.79, but failed to break out of a ceiling at 69.00.
The index is now tracking at 66.60, despite the 10-day (red) moving average being on the cusp of crossing its 25-day (blue) counterpart.
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