{"id":17417,"date":"2023-02-08T17:27:39","date_gmt":"2023-02-08T17:27:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/matic-moves-to-10-month-high-atom-extends-recent-gains-market-updates-bitcoin-news\/"},"modified":"2023-02-08T17:27:39","modified_gmt":"2023-02-08T17:27:39","slug":"matic-moves-to-10-month-high-atom-extends-recent-gains-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/matic-moves-to-10-month-high-atom-extends-recent-gains-market-updates-bitcoin-news\/","title":{"rendered":"MATIC Moves to 10-Month High, ATOM Extends Recent Gains \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Polygon rose to its strongest point since last April, as prices rose by as much as 6% on Feb. 8. The token surged for a second straight session, after snapping a three-day losing streak on Tuesday. Cosmos also surged higher in today\u2019s session, as it moved closer to recent highs.<\/strong><\/p>\n

Polygon (MATIC)<\/h2>\n

Polygon (MATIC) extended a recent rally on Wednesday, with prices jumping to a ten-month high.<\/p>\n

Following a low of $1.22 on Tuesday, MATIC\/USD raced to an intraday high of $1.31 in today\u2019s session.<\/p>\n

Today\u2019s move saw MATIC\/USD climb to its strongest point since April 26, 2022, when the token was at a high of $1.36.<\/p>\n

\"Biggest
MATIC\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As can be seen from the chart, the surge in price sent the 14-day relative strength index (RSI) to a long-term resistance point of 71.00.<\/p>\n

So far, bullish momentum has not been strong enough to pass this zone, with the index now tracking at 69.83.<\/p>\n

Should a breakout occur over the coming days, it is likely that traders will target a ceiling at $1.35.<\/p>\n

Cosmos (ATOM<\/a>)<\/h2>\n

Another notable mover on hump day was cosmos (ATOM<\/a>), which also closed in on a recent multi-month high.<\/p>\n

ATOM<\/a>\/USD ascended to a peak of $15.18 earlier in the day, which comes after trading at a low of $14.32 on Tuesday.<\/p>\n

This resulted in ATOM<\/a> moving closer to a long-term resistance level at $15.20, and not far from last Friday\u2019s high at $15.44.<\/p>\n

\"Biggest
ATOM<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

The aforementioned top was the strongest point that cosmos had hit since November 5, and it appears as though bulls are looking to recapture this.<\/p>\n

As of writing, the RSI is tracking at 64.23, and in order to achieve the above, a move beyond an upcoming ceiling of 65.00 must occur.<\/p>\n

Overall momentum still seems to be bullish, with further higher highs possible as the session progresses.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Do you expect cosmos to move above $15.44 this week? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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