Fun

Biggest Movers: MATIC Moves to 2-Week High, as Market Volatility Eases

News Feed - 2022-09-03 12:09:47

Biggest Movers: MATIC Moves to 2-Week High, as Market Volatility Eases


Polygon was a notable mover on Friday as the token surged to a two-week high, while volatility in crypto markets eased. Traders have been tense this week ahead of the payrolls report, however following the release of the data, bulls returned to action. Chainlink also rose, hitting a ten-day high in the process. Polygon (MATIC)


Polygon (MATIC) was one of Friday’s big gainers, as the token rallied by as much as 7% in today’s session.


Following a low of $0.8342 on Thursday, MATIC/USD moved closer to $1.00 today, as prices surged to a peak of $0.9083.


This sees the token climb to its highest point since August 17, and comes as prices marginally broke out of a key resistance point. MATIC/USD – Daily Chart


Looking at the chart, this ceiling was the $0.9015 mark, which has recently acted as a point of market uncertainty.


Friday’s breakout comes as the 14-day relative strength index (RSI) also rose, with the index hitting a nearly three-week high.


As of writing, the RSI is close to a ceiling of 60.00, which could see bears return, especially if bulls opt to secure gains, rather than maintain positions. Chainlink (LINK)


Chainlink (LINK) also extended recent gains on Friday, with prices rising to a ten-day high earlier in the day.


LINK/USD rose to an intraday high of $7.15 in today’s session, which is a point that has also acted as resistance.


This rise is the strongest point for chainlink since August 26, which is the last time the token was trading at this current ceiling. LINK/USD – Daily Chart


As seen from the chart, on that occasion, bears moved to engulf bulls, sending prices to a bottom of $6.40.


The RSI has hit a ceiling of 50.00, which could trigger history to repeat itself, however bulls have so far resisted this.


It appears that traders are targeting the $7.50 level as a potential exit point, which could mean a breakout of $7.15 may be on the cards in upcoming days.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Chainlink, LiNK, matic, Polygon


Do you believe chainlink can overcome its $7.15 resistance level? 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 Surges, Following Latest Jobs Report MARKET UPDATES | 10 hours ago Biggest Movers: SOL Slips Towards Multi-Month Low, as LTC Surges on Thursday MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com Previous articleMt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’ Next articleGAIMIN Gladiators Extends Team Roster Moving Into APEX Legends 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 ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

Binance Smart Chain Creates a $10 Million Bug Bounty Fund to Tighten Protocol Security
Binance Smart Chain Creates a $10 Million Bug Bounty Fund to Tighten Protocol Security The Binance Smart Chain has launched a $10 million bug bounty fund for pro
Dogecoin To $2 Could Be Next If DOGE Holds This Level: Analyst
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
David Attlee12 hours agoThere could be 24 CBDCs live by 2030: BIS survey93% of central banks are already conducting research on central bank digital currencies.3000 Total views2 Total sharesListen to article 0:00NewsJoin
Crypto exchanges subject to EU Travel Rule in 6 months
Arijit Sarkar45 minutes agoCrypto exchanges subject to EU Travel Rule in 6 monthsNew EU regulations mandate crypto exchanges to comply with Travel Rule Guidelines, enhancing AML/CFT measures starting Dec. 30.1174 Total v
Bitcoin, Ethereum Technical Analysis: ETH Remains Above $3,000 as Markets Consolidate
Bitcoin, Ethereum Technical Analysis: ETH Remains Above $3,000 as Markets Consolidate Following yesterday’s rally in crypto, prices consolidated on Wednesday, as markets wer
BTC price needs 5% dip to liquidate $2B of Bitcoin longs
William Suberg7 hours agoBTC price needs 5% dip to liquidate $2B of Bitcoin longsBitcoin traders are precariously betting on current sideways BTC price action soon ending.7152 Total views20 Total sharesListen to article
Tesla CEO Elon Musk Confirms He’ll Keep Buying and Supporting Dogecoin
Tesla CEO Elon Musk Confirms He"ll Keep Buying and Supporting Dogecoin Tesla and Spacex CEO Elon Musk has reaffirmed his commitment to dogecoin (DOGE). He confirms that he will kee
Edward Snowden Says Competing Nations Now Under Pressure to Acquire Bitcoin Following El Salvador
Edward Snowden Says Competing Nations Now Under Pressure to Acquire Bitcoin Following El Salvador Following El Salvador making bitcoin legal tender, privacy activist and whistleblo
65% of Traders on Paypal Ready to Use Bitcoin to Pay for Goods and Services: Survey
65% of Traders on Paypal Ready to Use Bitcoin to Pay for Goods and Services: Survey At least 65% of people who use the Paypal app to trade bitcoin are prepared t
Savannah Fortis13 hours agoAI chip developer gets $100 million from Samsung and HyundaiThe AI chip developing company Tenstorrent just closed a funding round worth $100 million, which was led by manufacturing giants Sams
Sources With Ties to Washington Say Joe Biden Will Renominate Fed Chair Jerome Powell
Sources With Ties to Washington Say Joe Biden Will Renominate Fed Chair Jerome Powell Unnamed sources familiar with the matter indicate the Biden administration may allow Federal R
Crypto Expert Discloses ‘Hidden Altcoin Gem’ With 1,900% Upside
Este artículo también está disponible en español. In his latest video analysis titled “I Just APED Into This Hidden RWA Altcoin Gem! [20x Potential],” promine