MATIC moved back into the cryptocurrency top 20 on Thursday, as prices rose by over 25% in today’s session. FTT has been replaced by FTT. This token was added to the list after declining MATIC prices on Wednesday. ATOM rose to a twelve-day high today.
Polygon (MATIC).
MATIC was one standout moversOn Thursday, the token entered the top-20 listing in cryptocurrency markets.
Following Wednesday’s low of $0.4042, MATIC/USD increased to an intraday record of $0.5145 today.
This move saw MATIC become the world’s 18th largest cryptocurrency by market capitalization, all while hitting an 11-day peak.
These gains aside, bulls appear to be aiming for the $0.6650 ceiling as their next target price.
Overall, MATIC has risen by over 25% in today’s session, with its seven-day average now nearing a 30% increase.
Moreover, the 14 day RSI has reached its highest level in more than three months after reaching a peak of 48.64 today.
Overall, the sentiment is bullish for the near-term. However, traders will be watching to see how it matures in the long-term.
Cosmos (ATOM)
ATOM prices also reached an 11-day record on Thursday due to a five-day streak of price increases.
ATOM bulls returned to the market after breaking through its floor of $5.50 last Wednesday, when prices fell to their lowest level since January 2021.
AtOM/USD rose today to $7.73 intraday due to this brief rise in bullish sentiment.
This gain means prices are now trading nearly 12% higher than yesterday’s lows, sending them to their most valuable level since June 12.
The chart shows that this momentum uptake has led to the possibility of the SMA of 25 days crossing the moving average of 10 days.
If that happens then prices could not only break the resistance but likely to reach $10.
Is ATOM likely to overcome this resistance by the month’s end? We’d love to hear your comments.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. It does not constitute an offer, solicitation, or recommendation of any company, products or services. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or imply loss.