Biggest Movers: MATIC hits 10-month high as AVAX extends recent gains
Polygon (MATIC) managed to hit a 10-month high on Day 1 as its prices advanced for the third session in a row.
MATIC/USD managed to reach a peak of $1.39 earlier in the day today in the first session which shows us after 1 day of trading at a low of $1.27 and as a result of this Thursday’s rally we can see that , MATIC/USD has asked at its best point since April last year and looking at the charts we can say that after bouncing off a floor at $1.20 this week it has had a mini-bull run to $1.35 today has reached the ceiling. However, its price on the Relative Strength Index has limited gains after reaching near the high of 70.00 and at the time of writing the index is tracking at 68.22 with MATIC/USD at $1.37.
Avalanche (AVAX) extended Thursday’s gains and its price reached a more than 1-week high. After a hump-day low of $18.39, the token rose to a high of $20.31 earlier in the day. As a result, we can see that the Avalanche has reached its highest point since February 8th when the coin last hit the ceiling of $21.00 and looking at the charts is well beyond the resistance of 55.00 on the Relative Strength Index indicator. After the break it has concentrated from the initial surge while at the time of writing, price power appears to be moving back towards this level. Should the bears continue to reduce momentum, there is a strong possibility that AVAX could decline to bottom below $18.00.