Biggest Movers: Matic Hits 10-Month High, ATOM Extends Recent Gains
Polygon (MATIC) extended its significant rally on Wednesday in which its price managed to reach a 10-month high. With this, of course after Tuesday’s low of $1.22, MATIC/USD managed to reach a one-day high of $1.31 when we look at it in today’s session. Today’s move has seen Polygon reach its highest and strongest point since April 26, 2022 when the token was at a high of $1.36 and as can now be seen on the chart this bounce has crossed a 14-day relative high. The Strength Index has been sent to the long-term resistance point of 71.00. So far, it is certainly not showing enough strength to gain momentum from it and surpass this area and with this the index is now tracking at 69.83. Certainly, if there is a breakout in the coming days, it is likely that traders will target the upper limit of $1.35. Another notable movers we look at on Hump Day was Cosmos ( ATOM ), which closed at a recent multi-month high, and with that we look at ATOM/USD $ earlier in the day. The climb to the top of $15.18 got us and it shows us after trading at a low of $14.32 on Tuesday and as a result ATOM moved closer to a long term resistance level of $15.20 and it is close to last Friday’s $15.44. The high was not far away and the top above was the strongest point in the universe since November 5th, and as such we can see that the bulls are definitely on the prowl to recapture and want to get it. At the time of writing when we turn to the Relative Strength Index we see that it is tracking 64.23 and should move above the upcoming range of 65.00 to take all the levels. Overall we can say that the momentum is still bullish and definitely higher levels are possible as the session progresses..
