Polygon, which surged to an all-time high of 2.20 percent on Friday, was notable as volatility eased in the crypto market. Although traders were nervous ahead of this week’s payrolls report, the bulls brought back the action after the data was released. Chainlink rose as well, reaching a 10-day high.
Polygon (MATIC).
Polygon (MATIC) was one of Friday’s big gainers, as the token rallied by as much as 7% in today’s session.
After a Thursday low of $0.8342, MATIC/USD saw a move closer to $1.00 today as prices surged towards a high of $0.9083.
The token has climbed to its highest point since August 17. Prices have marginally broken out of the key resistance level.
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MATIC/USD – Daily Chart
This chart shows the 0.9015 ceiling, which was recently used to indicate market uncertainty.
Friday’s breakout comes as the 14-day relative strength index (RSI) also rose, with the index hitting a nearly three-week high.
At the moment, the RSI has reached 60.00. Bears could return, particularly if bulls decide to gain rather than keep positions.
Chainlink (LINK).
Chainlink (LINK), also reported recent gains Friday with prices reaching a ten day high earlier in the morning.
LINK/USD rose to an intraday high of $7.15 in today’s session, which is a point that has also acted as resistance.
Chainlink’s strongest point since August 26th, when the token traded at the current ceiling, is this rise.
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LINK/USD – Daily Chart
The chart shows that bulls were swept away by bears at this time, sending the prices down to $6.40.
The RSI reached a maximum of 50.00 which may trigger another repeatable history, but bulls have otherwise resisted.
If traders target the $7.50 area as an exit point, it could indicate that a breakout at $7.15 is possible in the coming days.
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Is chainlink capable of surpassing its resistance level $7.15? We’d love to hear your comments.
Image creditShutterstock.com, Pixabay. Wiki Commons. Dennis Diatel
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