Biggest Movers: ATOM Approaches 1-Month High, While MATIC Hits 1-Week High
ATOM was fast approaching a one-month high during Tuesday’s session, as bullish momentum continued to rise following recent gains. This move comes as MATIC also climbed higher, hitting its highest level since June 29 in the process. Cosmos (ATOM)
ATOM was trading higher on Tuesday, as prices rose to a multi-week high earlier in today’s session.
The token rose to an intraday peak of $9.27 following yesterday’s July 4 celebrations, where prices hit a low of $8.14.
Today’s peak sees ATOM/USD hit its highest point since June 9, as prices made their way down below the $10 mark. ATOM/USD – Daily Chart
However, following recent gains, ATOM may be set to once again climb above $10, as bullish pressure continues to intensify.
Although recent momentum has been higher, following today’s high, gains somewhat eased, with some opting to exit rather than push for further gains.
This uncertainty came as prices hit a resistance point at $9.10, which hasn’t been broken in nearly four weeks.
Polygon (MATIC)
MATIC has once again made the news for being a notable mover, as prices continue to move away from last week’s low.
Prices hit a bottom of $0.4218 on Friday, however, they surged to an intraday peak of $0.5325 earlier in today’s session.
This is the highest point MATIC/USD has reached since June 29, and comes as the $0.4375 support point has stabilized. MATIC/USD – Daily Chart
Looking at the chart, today’s surge also comes following a breakout of the 45.50 ceiling on the 14-day RSI.
As of writing, the Relative Strength Index is tracking at 47.40, which is its highest reading in the last seven days.
Should this uptrend continue, MATIC could soon be colliding with yet another ceiling, this time at the $0.5557 point. Tags in this story Analysis, atom, Cosmos, matic, Polygon
Will MATIC sell off once this resistance point is hit? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,100 as BTC Briefly Hits $20K on Tuesday MARKET UPDATES | 10 hours ago Biggest Movers: RUNE Rallies to Start the Week, as SAND Extends Recent Gains MARKET UPDATES | 1 day ago
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