MATIC rose to its highest level in over two months on Friday, as crypto markets were mostly green in today’s session. SOL, one of the most green tokens, saw its price climb for the third straight session as it headed into weekend.
Solana (SOL)
SOL witnessed its value rise for the third session straight on Friday. Prices moved closer to key resistance levels.
SOL/USD reached its peak at $38.35 Friday as the week was drawing to a close. This is its highest level since July 9.
Friday’s intraday high has seen the token move closer towards a resistance level of $40.85, which is a point that hasn’t been truly broken since early June.
SOL’s recent gains have been due to a breakout of the price floor at $32 but this was not successful. Bulls, however, bought this dip just as they did in other moments.
The RSI has risen, and the latest run shows that it is on a collision course to a ceiling.
At the time of writing, index was at 53.17. However, it appears that bulls are looking to push this to 54.75, which is a ceiling that hasn’t been broken in over three months.
Polygon (MATIC).
SOL was unable to overcome resistance levels for multiple months, but MATIC has beaten them all.
MATIC/USD rallied to an intraday high of $0.7246 earlier in today’s session, less than 24 hours after trading at a low of $0.6664.
Friday’s peak is the highest level that MATIC has traded at in exactly two months, following gains on May 15.
This value surge is caused by price weakness moving towards overbought territory. The 14-day RSI is currently at 64.36.
This is, as you can see from the chart. It follows recent gains in token.
This is because prices appear to have hit a resistance after earlier gains began to fade, as MATIC neared $0.7250.
Get weekly price analysis emails sent straight to your inbox by registering your email
MATIC’s potential for continued growth despite overbought could be questioned. Please share your views with us in the comments.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis article serves informational purposes. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. 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 by the content or use of any goods, services, or information mentioned in the article.