Cardano (ADA)
Cardano (ADA) reached a ten-day high on Tuesday, despite low market volume due to Independence Day in the United States. The token rose to $0.3009 before dropping to $0.2917 the day before. Today’s rally brought ADA to its highest level since June 25, when it was above $0.305.
– ADA/USD peaked at $0.3009 before dropping to $0.2917.
– The token reached its highest level since June 25.
– The market volume was low due to Independence Day.
– Bears have rejected a full breakout above $0.295.
– The relative strength index (RSI) is currently below a ceiling at 51.00.
Polygon (MATIC)
Polygon (MATIC) remained near a four-week high after a five-day bullish run. The token reached a peak of $0.7193 on Monday and consolidated these gains today. It dropped to $0.6829 earlier in the session, still maintaining its strongest position since mid-June.
– MATIC/USD reached a peak of $0.7193.
– Traders are consolidating gains from the five-day bullish run.
– The token dropped to $0.6829 after reaching its strongest point since mid-June.
– The RSI indicator showed a collision with a ceiling at 55.00.
– If the RSI floor at 51.00 fails, more bears may enter the market.
Hot Take
Both Cardano (ADA) and Polygon (MATIC) experienced upward movement in their prices. While Cardano reached a ten-day high, Polygon remained near a four-week high. However, both tokens faced resistance at certain price levels, indicating the possibility of a bearish trend if key support levels are breached. Traders should closely monitor these levels and consider market conditions before making investment decisions.
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