Polygon (MATIC) Sees Increase While Solana (SOL) Drops

Polygon (MATIC) Sees Increase While Solana (SOL) Drops

Polygon (MATIC) experienced an upswing on Wednesday, as the token moved away from a recent point of support. After dropping to $0.954 on Tuesday, MATIC/USD rose to a high of $0.9925 earlier in the day. This caused the polygon to bounce back from a recent price floor of $0.950 after recently dropping to a multi-week low. Wednesday’s surge caused the relative strength index (RSI) to reach a long-term ceiling of 40.00. Currently, the index is at 39.22, with MATIC at $0.9813. Despite earlier gains easing, there is still hope that the polygon could climb back above $1.00 by the end of the week.

Solana (SOL)

In contrast, solana (SOL) remained in the red, moving back towards a recent price floor. SOL/USD retreated to a low of $21.36 earlier in the session, less than 24 hours after the token traded at a high of $22.37. Wednesday’s decline in price has sent SOL close to its long-term support point at $21.00, which was last hit a week ago. The RSI made a move for its own floor at 45.00, causing today’s decline. Currently, price strength is at 45.17, with bears likely to push for a breakout in the coming hours. If this happens, there is a possibility that SOL could move closer to $20.00 in the coming days.


Articles You May Like

Tether to Conduct Chain Swap to Convert USDT from Tron to Ethereum ERC20
Analyzing Ethereum Price Correction and Potential Targets
The Crypto Sector: A Concerning Landscape Filled with Fraud and Regulatory Challenges
Estonia Sees 80% Drop in Registered Crypto Firms After New Money Laundering Law

Leave a Reply

Your email address will not be published. Required fields are marked *