SOL recently snatches losing streak, while MATIC moves against resistance – market updates Bitcoin news
SOL was slightly higher on Tuesday, when prices picked up again after the last decline. The token jumped at its long-term support point earlier today, when bulls entered the market. MATIC also moved higher, and collided with its own price cap.
Solana (SOL)
SOL traded marginally higher in today’s session, when prices picked up again after a four-day losing streak.
This series was interrupted when bulls entered the market near a support point of $ 32.65, pushing prices away from the recent lows.
Tuesday’s rally saw SOL / USD reach an intraday high of $ 35.64, with some now waiting to see if bulls will continue to push prices up.
Historically, this current level has seen the birth of the last three bull races, which usually take prices to a ceiling of $ 40.
If we look at the chart, with the RSI bouncing on its own floor, there may soon be a shift in momentum, which will show if the 10-day moving average prolongs the last cross.
At the time of writing, relative strength of 43.5 follows, with a short-term roof close to 45. Should this point be passed, sentiment will probably have shifted towards the side of the bulls.
Polygon (MATIC)
While SOL jumped from a support point, MATIC collided with a resistance level after today’s marginal gains.
After three consecutive sessions of lower lows, MATIC / USD rose to a high of $ 0.5964 on Tuesday.
This peak saw the token move close to the last ceiling of $ 0.5980, but it has since given way, as bulls likely secured gains and left previous positions.
At the time of writing, MATIC is now trading at $ 0.5683, with a 14-day relative strength index of 54.
Overall, the momentum in the MATIC still appears to be bullish, following the upward transition between the 10-day and 25-day moving averages.
Should this junction continue to mature, an eruption of the roof that was tested earlier today is inevitable.
Can MATIC go as high as $ 0.80 this month? Let us know your thoughts in the comments.
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