Biggest Movers: MATIC Climbs 25%, Re-Enters Crypto Top 20 

1 week ago 10

MATIC moved backmost into the cryptocurrency apical 20 connected Thursday, arsenic prices roseate by implicit 25% successful today’s session. The token replaced FTT, which entered the database pursuing declines successful MATIC connected Wednesday. ATOM besides roseate today, hitting a 12-day precocious successful the process.

Polygon (MATIC)

MATIC was 1 of the standout movers successful crypto markets connected Thursday, arsenic the token re-entered the top-20 list.

Following a debased of $0.4042 connected Wednesday, MATIC/USD surged to an intraday highest of $0.5145 earlier today.

This determination saw MATIC go the world’s 18th largest cryptocurrency by marketplace capitalization, each portion hitting an 11-day peak.

 MATIC Climbs 25% arsenic  It Re-Enters Crypto Top 20 MATIC/USD – Daily Chart

Despite these gains, it appears that bulls are looking towards the ceiling of $0.6650 arsenic the adjacent terms target.

Overall, MATIC has risen by implicit 25% successful today’s session, with its seven-day mean present nearing a 30% increase.

In summation to this, the 14-day RSI is tracking astatine its highest constituent successful implicit 3 months, aft hitting a precocious of 48.64 earlier today.

All successful all, sentiment seems to beryllium firmly bullish successful the short-term, nevertheless traders volition spot if this matures into the mid-term.

Cosmos (ATOM)

ATOM besides roseate to an 11-day precocious connected Thursday, arsenic prices roseate for a 5th consecutive session.

Following a breakout of its level astatine $5.50 past week, which saw prices deed their lowest constituent since January 2021, ATOM bulls re-entered the marketplace with afloat force.

As a effect of this short-term emergence successful bullish sentiment, ATOM/USD roseate to an intraday highest of $7.73 earlier today.

 MATIC Climbs 25% arsenic  It Re-Enters Crypto Top 20 ATOM/USD – Daily Chart

This summation means prices are present trading astir 12% higher than yesterday’s lows, sending them to their astir invaluable level since June 12.

Looking astatine the chart, this uptake successful momentum has meant that the moving mean of 10 days is present nearing a imaginable transverse with that of the 25-day SMA.

Should this occur, past we volition apt spot prices not lone reach, but breakout of, absorption astatine $10.

Do you expect ATOM to interruption retired of this absorption earlier the period ends? Let america cognize your thoughts successful the comments.

Eliman Dambell

Eliman brings a eclectic constituent of presumption to marketplace analysis, having worked arsenic a brokerage director, retail trading educator, and marketplace commentator successful Crypto, Stocks and FX.

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