Skip to main content

Biggest Movers: MATIC Slips on Saturday, RUNE and LUNA Over 5% Lower

MATIC fell to its long-term support level on Saturday, following a surge in price during Friday’s session. This came as both RUNE and LUNA also dropped, and traded by as much as 5% lower to start the weekend.

Polygon (MATIC)

During what has been a bearish start to the weekend, MATIC was one of the biggest losers so far in Saturday’s session.

MATIC, which traded at its long-term resistance level of $1.50 on Friday, fell all the way to its support point earlier today.

As of writing, Saturday saw MATIC/USD drop to a bottom of $1.35, which is also its long-term floor, and is now around $0.10 away from a two-month low.

Today’s selloff comes following strong gains on Friday, however bullish momentum eased, as prices ran into the ceiling.

In addition to this price ceiling, the 14-day RSI saw its own resistance reached, as relative strength failed to break above the 45 level.

MATIC has mostly consolidated between $1.35 and $1.50 during the month of April, and as market uncertainty continues, it looks like we may end the month trading within this range.

THORChain (RUNE)

There was no rebound in price for RUNE, which fell for a fourth consecutive session to start the weekend.

So far this Saturday, RUNE/USD has slipped to a bottom of $8.21, which is three days removed from a peak of $9.88, where bulls were attempting to break the $10 threshold.

However, since then momentum has only faded, with the mid-term 25-day (blue) moving average now firmly lower, as it continues to trend downward.

One positive for bulls however, is that this downward descent is helping increase the chances of a cross with the 10-day (red), which could help trigger a rebound.

Typically, when the 25-day moving average slips, price strength follows, and usually resides in oversold territory, which bulls use as a sign to buy low.

As of writing, the 14-day RSI is now tracking at 47.02, however we could see relative strength move towards a floor of 44, should this recent bearish pressure remain.

Could we see RUNE trade above $10 before the end of the month? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/WQRT1Yz
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more