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.

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.

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NoobieTrader July 12, 2023 - 10:51 am

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!

CryptoAddict789 July 12, 2023 - 11:35 am

Solana bouncing back from the sell-off and approaching a fresh high? That’s impressive! Loving the momentum here.

CryptoEnthusiast23 July 12, 2023 - 1:06 pm

If the current momentum keeps up, we might see Solana cross the $23.00 mark soon. Hoping for a bullish week ahead!

TraderGuru22 July 12, 2023 - 1:36 pm

MATIC hitting a one-month high is great news! Wonder if it will break through that $0.7480 ceiling soon. Exciting times!

Investor101 July 12, 2023 - 2:51 pm

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!

CryptoLover123 July 12, 2023 - 3:15 pm

wow matic and sol up so high!! what a bull run this is!! hope it goes higher but who knows lol

TradingWizard007 July 12, 2023 - 4:11 pm

Loving the technical analysis and price movement updates. Thanks for keeping us informed. Can’t wait for the weekly analysis report!

BitcoinFanatic July 12, 2023 - 4:58 pm

SOL inching closer to the resistance zone at 72.00. Will it break through? Can’t wait to find out. Fingers crossed!


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