Polygon rose by 20% for the second session in a row on Friday. The token’s prices reached their highest point since May thanks to this surge. Cosmos, another major gainer Friday, saw prices rise to a 5-week high. The cryptocurrency global market cap has risen to 2.64%.
Polygon (MATIC).
Polygon (MATIC), which traded higher on Friday for the second consecutive session, climbed as high as 20%
MATIC/USD rose to $1.15 intraday after a lower of $0.9267 Thursday.
Today’s gains took the token to its highest level in exactly six months, when prices were trading above $1.18 on May 4.
The chart shows that prices moved away from $0.95, a crucial resistance level.
Added to that, the 14 day relative strength indicator (RSI) now tracks close to a ceiling near 77.00 for first time since mid July.
Overbought prices are currently deep, and this could invite bears into the market to start reentering in the coming days.
Cosmos (ATOM)
MATIC and cosmos(ATOM) also broke free from a crucial resistance level. The prices traded over 10% higher.
ATOM/USD rallied to a high of $14.97 earlier in today’s session, which comes a day after sitting at a bottom of $13.44
ATOM reached this peak on September 23rd. The token had not moved past the ceiling of $15.25.
Prices have begun to fall as of this writing at $14.73. This is because the RSI appears to have reached a dead end.
The chart shows that the index tracks at 66.50. This is close to the ceiling at 66.80 which was also in effect since September.
Unless price strength moves beyond this point, it is unlikely that ATOM will continue to extend today’s gains.
Get weekly price analysis emails sent straight to your email by clicking here
What do you think? Please share your views with us in the comments.
Images CreditsShutterstock.com – Dennis Diatel, Pixabay and Wiki Commons
DisclaimerThis article serves informational purposes. It does not constitute an offer, solicitation, or recommendation of any company, products or services. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.