{"id":20785,"date":"2023-05-11T03:31:28","date_gmt":"2023-05-11T03:31:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tron-nears-crypto-top-10-as-matic-extends-declines-market-updates-bitcoin-news\/"},"modified":"2023-05-11T03:31:28","modified_gmt":"2023-05-11T03:31:28","slug":"tron-nears-crypto-top-10-as-matic-extends-declines-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tron-nears-crypto-top-10-as-matic-extends-declines-market-updates-bitcoin-news\/","title":{"rendered":"TRON Nears Crypto Top 10, as MATIC Extends Declines \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Tron moved closer to being in the cryptocurrency top 10 on Wednesday, as the token rose for a second straight day. Prices climbed by nearly 2% in today\u2019s session, despite the global market cap moving marginally lower. Polygon, which currently occupies the tenth position, fell to a five-month low. <\/strong><\/p>\n

TRON (TRX<\/a>)<\/h2>\n

TRON (TRX<\/a>), rose by as much as 2% on Wednesday, as the token moved closer to entering the cryptocurrency top 10.<\/p>\n

Following a low of $0.06841 on Tuesday, TRX<\/a>\/USD climbed to an intraday peak of $0.07031 earlier in the session.<\/p>\n

As a result of this jump, TRX<\/a> is now marginally above a long-term resistance level of $0.070.<\/p>\n

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

It appears that the target for bulls could be to not only break this ceiling, but move to $0.072, which would see the token hit a three-month high.<\/p>\n

One of the main obstacles preventing this is the relative strength index (RSI), which is currently tracking at 59.67, below resistance at 60.00.<\/p>\n

If and when price strength moves beyond this point, there will likely be more bulls reentering the market.<\/p>\n

Polygon (MATIC)<\/h2>\n

Polygon (MATIC) which is currently the world\u2019s tenth largest cryptocurrency, fell for a fifth straight day.<\/p>\n

MATIC\/USD plunged to a bottom at $0.866, less than a day after the token was trading near $0.90.<\/p>\n

This latest decline in price has pushed polygon to its lowest point since January 11, when it traded at $0.84.<\/p>\n

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

Looking at the chart, this spell of sell-offs has sent the RSI below 30.00, which is deep in oversold territory.<\/p>\n

The last time price strength tracked this low was back in July 2022, which may give bulls optimism that a reversal could be soon approaching.<\/p>\n

MATIC is now trading at $0.8723, which is marginally higher than its earlier lows.<\/p>\n

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

Could MATIC fall further this week? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on 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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