Polygon rose to its highest level in four months Saturday as it climbed to $1.00. This was to kick off the weekend. Solana was also trading at a multi-month high, as it rose by over 10% earlier in today’s session. At the time of writing, crypto’s global market cap had risen to almost 3%.
Polygon (MATIC).
Polygon (MATIC), which saw its token rise to the highest level since May, was an impressive gainer.
Within 24 hours of trading at $0.9141, MATIC/USD rose to $1.02 for the start of weekend.
This marks the most powerful point the token has traded at in the past five days, coming after prices rallied beyond a crucial resistance level.
This resistance can be seen in the $0.9500 area, last broken July 31. The move was eventually halted by a false breakout.
The 14-day relative strength indicator (RSI), which was tracking above a ceiling as of this writing, has now reached another resistance.
This is the 66-point index. It has been in existence since July 17, 2001, when the RSI reached a new high of above 80.
MATIC has fallen below $1.00 again after reaching earlier heights. This is because bulls are retreating from the positions they held previously.
Solana (SOL)
In addition to MATIC, solana (SOL) was another big mover in today’s session, with it also climbing to its highest point since May.
SOL/USD raced to an intraday high of $48.18 to start the weekend’s session, as bulls attempted to recapture the $50.00 point.
Solana reached its highest point in May 25th, and the 10-day (red-colored) moving average has crossed over the 25 day (blue) MA.
Prices rose to an unprecedented $47 from the floor at $32 on this occasion, which is the first since mid July.
Furthermore, the 14 day RSI broke through its ceiling by climbing above the 59.20 resistance in the first quarter of 2018.
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