{"id":17719,"date":"2023-02-16T16:40:19","date_gmt":"2023-02-16T16:40:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/matic-hits-10-month-high-as-avax-extends-recent-gains-market-updates-bitcoin-news\/"},"modified":"2023-02-16T16:40:19","modified_gmt":"2023-02-16T16:40:19","slug":"matic-hits-10-month-high-as-avax-extends-recent-gains-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/matic-hits-10-month-high-as-avax-extends-recent-gains-market-updates-bitcoin-news\/","title":{"rendered":"MATIC Hits 10-Month High as AVAX Extends Recent Gains \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Polygon rallied to a ten-month high on Thursday, as the token rose for a third straight session. Overall, cryptocurrency markets rebounded from recent losses, with the global market cap up 5.90% at the time of writing. Avalanche also surged, hitting a one-week high.<\/strong><\/p>\n

Polygon (MATIC)<\/h2>\n

Polygon (MATIC) surged to a ten-month high earlier in the day, as prices rose for a third consecutive session.<\/p>\n

MATIC\/USD moved to a peak of $1.39 earlier in today\u2019s session, which comes a day after trading at a low of $1.27.<\/p>\n

As a result of Thursday\u2019s high, MATIC\/USD jumped to its strongest point since April last year.<\/p>\n

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

Looking at the chart, polygon has had a mini-bull run this week, after bouncing off a floor at $1.20, leading up to a move to a ceiling at $1.35 today.<\/p>\n

Earlier gains have marginally eased, however, with the relative strength index (RSI) moving close to a ceiling at 70.00.<\/p>\n

At the time of writing, the index is tracking at 68.22, with MATIC\/USD at the $1.37 mark.<\/p>\n

Avalanche (AVAX)<\/h2>\n

Avalanche (AVAX) extended recent gains on Thursday, leading to prices hitting a one-week high.<\/p>\n

Following a low of $18.39 on hump-day, AVAX\/USD raced to an intraday high of $20.31 earlier in the day.<\/p>\n

This resulted in avalanche climbing to its highest point since February 8, when the token last collided with a ceiling at $21.00.<\/p>\n

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

Looking at the chart, the initial surge took place following a break beyond a resistance at 55.00 on the RSI indicator.<\/p>\n

However, at the time of writing, price strength appears to be moving back towards this level.<\/p>\n

Should bears continue to push momentum lower, there is a strong chance AVAX could fall to a floor below $18.00.<\/p>\n

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

Do you expect avalanche to hit $21.00 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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