Solana climbed for a third consecutive session, as crypto markets rebounded to start the weekend. At the time of writing, the global market cap rose by 3.3%, as bullish sentiment returned. Polygon was another notable gainer, surging by over 5% on Saturday.
Solana (SOL)
Solana (SOL) raced to a one-week high on Saturday, as crypto prices rallied following a recent spell of downward sentiment.
After falling to a low of $14.47 during yesterday’s session, SOL/USD bounced to a peak of $16.07 to start the weekend.
The move came as the token continued to distance itself from a recent support point at the $14.00 mark.
From the chart, it seems that the latest rise in price has pushed the relative strength index (RSI) to a resistance zone at 36.00.
This has led to earlier bulls abandoning their positions, leading to the index now tracking at 35.77.
In the event this hurdle is overcome, there is a good chance that SOL will move towards $17.00.
Polygon (MATIC)
Additionally, polygon (MATIC) also made sizeable gains on Saturday, climbing by as much as 6% today.
MATIC/USD jumped to an intraday high of $0.6302 to start the weekend, a day after falling to a low of $0.5624.
As a result of the surge, polygon once again rose past a floor at $0.5760 and seems set to collide with a ceiling at $0.6700.
Despite today’s gains, MATIC still remains oversold, with price strength tracking at the 29.12 level.
This is however a positive for bulls, as there is still substantial upside to entering at this current level.
There is still a degree of uncertainty also, as a resistance point at 31.00 will likely test the strength of buyers.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect polygon to make any further gains on Saturday? Let us know your thoughts in the comments.
from Bitcoin News https://ift.tt/NGnDTvW
Comments
Post a Comment