Solana (SOL)
Solana (SOL) is approaching a long-term resistance level of $26.00, indicating a bullish sentiment in the token. The price surged from a low of $24.45 to an intraday high of $25.59, reaching its highest point since last Saturday.
- The breakout at the 59.00 level on the relative strength index (RSI) contributed to today’s rally.
- Currently, the RSI is tracking at 59.90, with SOL bulls giving up some of their earlier gains.
- Despite a 10% climb in the past two days, the token is down 2.80% in the past week following a recent bear run.
Polygon (MATIC)
Polygon (MATIC) experienced a bounce from a recent support point as bulls rejected an extended sell-off. The price reached a peak of $0.7347 after falling to a bottom at $0.7124.
- The initial move away from the floor at $0.7000 coincided with the RSI moving away from a support level of 45.00, which currently stands at 48.24.
- The 10-day and 25-day moving averages are still indicating a potential downward cross in the coming days.
- If this occurs, the next target for sellers will likely be around the $0.5900 zone.
Hot Take
Solana (SOL) and Polygon (MATIC) are both experiencing interesting price movements. While Solana is approaching a resistance level with a bullish sentiment, Polygon is bouncing back from a support point. It will be worth monitoring the developments in both tokens to see if they can sustain their momentum or face further downward pressure.
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