In today’s session, Polygon (MATIC) made a significant move, experiencing an 8% surge. This propelled the cryptocurrency to reach its highest point in a month, following a five-day bull run. Similarly, Solana (SOL) also witnessed an upward movement after a week-start sell-off.
During today’s session, Polygon (MATIC) achieved an 8% increase, reaching its highest point in a month.
Starting the day at $0.7033, MATIC/USD climbed to an intraday peak of $0.7473 on Tuesday.
This surge allowed MATIC to break through the ceiling at $0.7480, which it had not surpassed since June 9.
MATIC/USD – Daily Chart
If the index continues to strengthen, the probability of surpassing $0.7480 will significantly increase.
SOL/USD reached a high of $22.29 earlier today, less than 24 hours after nearly falling below $20.00.
With Tuesday’s peak, the world’s ninth-largest cryptocurrency is only $0.20 away from its recent two-month high at $22.49.
SOL/USD – Daily Chart
At present, the price strength registers a reading of 69.05, with the next visible resistance zone at 72.00.
If the current momentum continues throughout the week, there is a high probability that Solana will surpass $23.00.
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Frequently Asked Questions (FAQs) about crypto market movement
Q: What was the price movement of MATIC and SOL in the recent session?
A: MATIC experienced a surge of 8% in today’s session, reaching a one-month high. SOL rebounded from a sell-off and approached a fresh two-month high.
Q: What were the intraday peaks reached by MATIC and SOL?
A: MATIC/USD reached an intraday peak of $0.7473, while SOL/USD reached a high of $22.29 in today’s session.
Q: When was the last time MATIC broke out of the $0.7480 ceiling?
A: The last time MATIC broke out of the $0.7480 ceiling was on June 9.
Q: What is the significance of the relative strength index (RSI) in these movements?
A: The RSI for MATIC marginally broke out of a ceiling at 59.00, while for SOL, traders reentered the market as the RSI found support at 65.00.
Q: What is the next visible resistance zone for SOL?
A: The next visible resistance zone for SOL is at 72.00, as indicated by the daily chart analysis.
Q: Will Solana bulls maintain the current market sentiment?
A: The text does not provide a conclusive answer to this question.
More about crypto market movement
- Polygon (MATIC) Official Website
- Solana (SOL) Official Website
- Relative Strength Index (RSI) Explained
- Understanding Resistance and Support Levels in Trading