Polygon rose to its highest level since August, as the token climbed by as much as 10% on Thursday. Today’s rise comes despite cryptocurrency markets mainly residing in the red, with the global market cap down 0.41% as of writing. Flow was another notable expectation to today’s declines, climbing by 14% earlier in the day.
Polygon (MATIC) rose by as much as 10% in today’s session, as the token climbed to its highest point since August.
Following a low of $0.8403 on Wednesday, MATIC/USD rallied to an intraday peak of $0.9813 earlier today.
The move saw the token race to its strongest point since August 15, when it traded at a high of $1.033.
As can be seen from the chart, the 14-day relative strength index (RSI) has also surged, breaking out of a key resistance in the process. The index is currently tracking at the 62.19 level, which is marginally above a ceiling of 60.75.
Should this recent upward momentum continue, bulls will likely look to recapture the $1.00 level. In order to reach this point, MATIC traders will first need to take price strength to a reading of 65.00.
Flow (FLOW) snapped a four-day losing streak in today’s session, as the token raced to a multi-week high.
FLOW/USD surged to a high of $2.04 earlier today, which comes less than a day after hovering at a low of $1.57. Today’s rally in FLOW has led to a breakout of a ceiling at the $1.80 point, which had been in place since mid-September.
The RSI on FLOW has yet to reach a resistance level, with the next visible ceiling at the 65.40 mark.
As of writing, the index is tracking at 63.05, with the 10-day (red) moving average also hovering above its 25-day (blue) counterpart.
Should this trend continue, it is likely that FLOW could hit $2.15 in the coming days.
Register your email here to get weekly price analysis updates sent to your inbox:
Could we see flow hit a ceiling of $2.15 this week? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.