Biggest Movers: MATIC Climbs to 5-Week High, ATOM Extends Recent Gains

By | October 18, 2022

Polygon was one of Tuesday’s notable gainers, as the token rose to its highest point since mid-September. Today’s surge saw prices of the cryptocurrency rise for a third straight session. Cosmos also extended recent gains, climbing to its strongest point in recent days.

Polygon (MATIC)

Polygon (MATIC) was a notable gainer on Tuesday, as the token rallied for a third consecutive day.

MATIC/USD surged to an intraday peak of $0.876 earlier in today’s session, less than a day after trading at a low of $0.8293.

This move saw the token climb to its highest point since September 13, marginally rising above a ceiling of $0.8775 in the process.

Biggest Movers: MATIC Climbs to 5-Week High, ATOM Extends Recent Gains
MATIC/USD – Daily Chart

Looking at the chart, today’s move comes following a breakout of the relative strength index (RSI) of 14v days, which rose past a key ceiling.

This ceiling at 59.50 was broken earlier in the day, and as of writing, the index is tracking at 61.46.

Despite prices moving below previous highs, bulls will likely still target the $0.9000 level in the coming days.

Cosmos (ATOM )

In addition to MATIC, cosmos (ATOM ) was also in the green, as the token moved higher for a third straight day.

ATOM /USD surged to a high of $12.70 earlier in the day, which moves comes less than 24 hours after the coin was trading at a low of $12.18.

Today’s surge in price saw cosmos climb to its strongest point since October 10, when the token was above $13.00.

Biggest Movers: MATIC Climbs to 5-Week High, ATOM Extends Recent Gains
ATOM /USD – Daily Chart

Earlier momentum has marginally faded, as the RSI collided with a resistance of 49.00, which has been in place since late September.

See also  Bitcoin, Ethereum Technical Analysis: BTC Back Above $19,000 Ahead of FOMC Meeting

As of writing, ATOM is now trading at the $12.52 level, which is slightly below a key ceiling of $13.30.

Should price strength rally beyond its current hurdle, we will likely see the token move back to the aforementioned resistance.

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Do you expect cosmos to recapture this ceiling this week? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.



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