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.

Sign up with your email here to receive weekly updates on price analysis:

Weekly Technical Analysis Report
Sign up

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.

More about crypto market movement

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

8 comments

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!

Reply
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.

Reply
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!

Reply
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!

Reply
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!

Reply
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

Reply
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!

Reply
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!

Reply

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

Follow us

CryptokenTop

CrypTokenTop is a website dedicated to providing comprehensive information and analysis about the world of cryptocurrencies. We cover topics such as Bitcoin, Ethereum, NFTs, ICOs, and other popular crypto topics. Our mission is to help people learn more about the crypto space and make informed decisions about their investments. We provide in-depth articles, analysis, and reviews for beginners and experienced users alike, so everyone can make the most out of the ever-evolving world of cryptocurrency.

© 2023 All Right Reserved. CryptokenTop

en_USEnglish