Polygon (MATIC)
The price of Polygon (MATIC) continued to decline for the fourth consecutive day, reaching a ten-day low.
Starting the week at $0.5396, MATIC/USD dropped to a low of $0.5241 today.
This is the lowest point since September 29 when it reached $0.5163.
Sellers are trying to push MATIC down to a support level at $0.5070, which would require the relative strength index (RSI) to reach its floor at 40.00.
Bulls may enter the market once polygon approaches this support level.
Cosmos (ATOM)
Cosmos (ATOM) rebounded strongly after finding support earlier this week.
ATOM/USD reached a high of $7.14 today, just one day after trading at a low of $6.63.
The previous low was on September 15 when it broke through the floor at $6.65.
Bulls have rejected the downward sentiment and are now aiming for a resistance zone at $7.60.
The RSI indicator’s upcoming ceiling at 48.00 could pose a threat to this upward movement.
Hot Take: Polygon and Cosmos Face Opposite Trends
Polygon (MATIC) is experiencing a downward trend, reaching a ten-day low, while Cosmos (ATOM) is rebounding strongly from its recent low point.
As traders closely monitor these cryptocurrencies, MATIC faces potential support and reentry opportunities, while ATOM confronts resistance levels that could hinder further gains.
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