MATIC moved again into the cryptocurrency high 20 on Thursday, as costs rose by over 25% in immediately’s session. The token changed FTT, which entered the record following declines in MATIC on Wednesday. ATOM additionally rose immediately, hitting a 12-day excessive within the course of.
Polygon (MATIC)
MATIC was one of many standout movers in crypto markets on Thursday, because the token re-entered the top-20 record.
Following a low of $0.4042 on Wednesday, MATIC/USD surged to an intraday peak of $0.5145 earlier immediately.
This transfer noticed MATIC change into the world’s 18th largest cryptocurrency by market capitalization, all whereas hitting an 11-day peak.
Regardless of these beneficial properties, it seems that bulls are wanting in the direction of the ceiling of $0.6650 as the following worth goal.
Total, MATIC has risen by over 25% in immediately’s session, with its seven-day common now nearing a 30% enhance.
Along with this, the 14-day RSI is monitoring at its highest level in over three months, after hitting a excessive of 48.64 earlier immediately.
All in all, sentiment appears to be firmly bullish within the short-term, nevertheless merchants will see if this matures into the mid-term.
Cosmos (ATOM)
ATOM additionally rose to an 11-day excessive on Thursday, as costs rose for a fifth consecutive session.
Following a breakout of its ground at $5.50 final week, which noticed costs hit their lowest level since January 2021, ATOM bulls re-entered the market with full drive.
Because of this short-term rise in bullish sentiment, ATOM/USD rose to an intraday peak of $7.73 earlier immediately.
This achieve means costs at the moment are buying and selling practically 12% larger than yesterday’s lows, sending them to their most dear stage since June 12.
Trying on the chart, this uptake in momentum has meant that the transferring common of ten days is now nearing a possible cross with that of the 25-day SMA.
Ought to this happen, then we’ll doubtless see costs not solely attain, however breakout of, resistance at $10.
Do you count on ATOM to interrupt out of this resistance earlier than the month ends? Tell us your ideas within the feedback.
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