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Biggest Movers: SOL MATIC Move Away From Key Support Levels on Saturday

Biggest Movers: SOL, MATIC Move Away From Key Support Levels on Saturday

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.

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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
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