Moonpay Raises $555 Million in First Funding Round
Moonpay Raises $555 Million in First Funding Round Moonpay, a cryptocurrency payments service provider, has raised $555 million during its first funding round. Led by Tiger Global
Biggest Movers: SOL Rebounds From 2-Month Low to Start the Weekend
News Feed
-
2023-03-11 11:03:52
Biggest Movers: SOL Rebounds From 2-Month Low to Start the Weekend
Solana rebounded from a two-month low to start the weekend, as bulls reentered the market to buy the recent dip. Overall, the global crypto market cap is currently trading 1.8% higher, following a nearly 10% drop on Friday. Polygon was another notable mover, as price rose by nearly 7% on Saturday. Solana (SOL)
Solana was back in the green to start the weekend, as bulls reappeared following Friday’s red wave.
Following a low of $16.19 in yesterday’s session, SOL/USD moved to an intraday peak of $18.85 on Saturday.
The move sees solana climb above a recent floor at $17.30, moving away from its weakest point since January 13 in the process. SOL/USD – Daily Chart
Looking at the chart, this was helped by the relative strength index (RSI), which found a point of support at the 30.00 level.
As of writing, the index is now tracking at 32.85, which despite the rebound, remains deep in bearish territory.
The momentum of the 10-day (red) moving average continues to trend downwards, which could be a sign that there could be more turbulence ahead. Polygon (MATIC)
In addition to solana, polygon (MATIC) also rebounded from a multi-month low during Saturday’s session.
MATIC/USD jumped by nearly 7% earlier in the day, hitting a high of $1.09, after dropping to $0.9545 on Friday.
This was the lowest point for the token since the last week of January, and led to price strength moving deep into bear territory. MATIC/USD – Daily Chart
The RSI for MATIC is now tracking at 35.00, following a move to 32.00 during yesterday’s session.
Overall, polygon is down nearly 12% in the last week, however it appears that it could be on course to finding a floor.
Should this be the case, there could be some long-term bulls rushing in to buy the current dip.
Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, matic, Polygon, SOL, Solana
Do you expect a reversal in prices in the coming days? Let us know your thoughts in the comments. Eliman Dambell
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: BTC Above $20,000, ETH Beyond $1,400 on Saturday MARKET UPDATES | 11 hours ago Bitcoin Price Outlook for March MARKET UPDATES | 1 day ago
Image Credits: Shutterstock, Pixabay, Wiki Commons, sdx15 / Shutterstock.com Previous articleBitcoin, Ethereum Technical Analysis: BTC Above $20,000, ETH Beyond $1,400 on Saturday Next articleUSDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other Stablecoins Slip Below Parity Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher