Simon Ng 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.
Polygon (MATIC)
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
Despite MATIC bulls failing to breach this ceiling in today’s session, the relative strength index (RSI) managed a marginal breakout above 59.00, currently reading 59.31.
If the index continues to strengthen, the probability of surpassing $0.7480 will significantly increase.
Solana (SOL)
After experiencing a nearly 7% drop at the beginning of the week, Solana (SOL) bulls took advantage of the dip, driving the price closer to a new multi-month high.
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
Analyzing the chart, it appears that traders reentered the market as the RSI found support at 65.00.
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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Share your thoughts on whether Solana bulls will maintain the current market sentiment in the comments section.
Table Of Contents
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
8 comments
I’m still trying to understand the RSI and support levels, but it’s fascinating how they impact the price movements. Learning so much from these updates!
Solana bouncing back from the sell-off and approaching a fresh high? That’s impressive! Loving the momentum here.
If the current momentum keeps up, we might see Solana cross the $23.00 mark soon. Hoping for a bullish week ahead!
MATIC hitting a one-month high is great news! Wonder if it will break through that $0.7480 ceiling soon. Exciting times!
The RSI breaking out of the ceiling is a good sign for both MATIC and SOL. Looks like traders are jumping back in. Let’s see if the trend continues!
wow matic and sol up so high!! what a bull run this is!! hope it goes higher but who knows lol
Loving the technical analysis and price movement updates. Thanks for keeping us informed. Can’t wait for the weekly analysis report!
SOL inching closer to the resistance zone at 72.00. Will it break through? Can’t wait to find out. Fingers crossed!