Solana was once again in the green, with bulls pushing the token towards a key resistance level at $26.00. The move comes after yesterday’s 7% surge, however earlier gains have since declined, as U.S. gross domestic product (GDP) grew 2.4% as opposed to the 1.8% expectation for Q2. Polygon also climbed higher today, bouncing from a support level around $0.7000.
Biggest Movers: SOL Nears $26.00 Resistance Level, MATIC Moves Away From Support
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Solana ( SOL)
Solana ( SOL) moved closer to a long-term resistance level of $26.00 on Thursday, as sentiment in the token remained bullish.
Following a low of $24.45 on Wednesday, SOL/USD surged to an intraday high of $25.59 earlier in today’s session.
As a result of the move, solana climbed to its highest point since last Saturday, when price peaked at $25.97.
One of the reasons behind today’s rally appears to be a breakout which took place at a ceiling of 59.00 on the relative strength index ( RSI).
As of writing, the index is now tracking at 59.90, with SOL bulls giving up some of their earlier gains.
Despite climbing by nearly 10% in the past two days, the token is down by 2.80% in the past week, following a recent bear run.
Polygon (MATIC)
Polygon (MATIC) bounced from a recent support point earlier in today’s session, as bulls rejected an extended sell-off.
MATIC/USD peaked at $0.7347 on Thursday, a day after falling to a bottom at the $0.7124 mark.
The initial move came as the world’s 11th largest cryptocurrency continued to climb away from floor at $0.7000.
This coincided with the RSI moving away from a support level of its own at 45.00. It is now tracking at 48.24.
Despite this, the 10-day (red) and 25-day (blue) moving averages still look set for a downward cross in the coming days.
Should this occur, the next target for sellers will likely be near the $0.5900 zone.
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Will polygon maintain its floor at $0.7000 this week? Let us know your thoughts in the comments.
