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.
Biggest Movers: MATIC up 8%, as SOL Nears Fresh 2-Month High
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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.
