Polygon has extended recent gains, and prices rallied to a fresh 10-month high during the session on Friday. The token is now up for the fourth session in a row, and is up 13% since the same time last week. Polkadot rallied on Friday as well, hitting a key resistance level in the process.
Polygon (MATIC)
Polygon (MATIC) rallied for the fourth session in a row on Friday, pushing prices to a fresh 10-month high.
Following a low of $1.36 on Thursday, MATIC/USD rose to an intraday high of $1.48 earlier in today’s session.
The move brought the polygon to its strongest point since April 22, when prices peaked at $1.50.
Overall, this latest rally comes as the 14-day RSI broke above a higher ceiling at 70.00.
At the time of writing, the index stands at 73.23, which is its highest reading since late January.
If the momentum continues in this direction, there is a good chance that the MATIC will pull back above $1.50.
Polka Dots (POINT)
Polkadot (DOT) also rallied in the session today, as prices reached a key resistance level earlier in the day.
DOT/USD hit a high of $6.80 on Friday, less than 24 hours after trading at a floor of $6.31.
This resulted in polkadot breaking a long-term resistance point at the $6.75 mark, four days after trading at the $6.15 support.
A major contributing factor to the move was the fact that the RSI moved past a top at 58.00, and is currently sitting at 59.02.
DOT bulls are likely to target $7.00 over the next few days, with next resistance at 62.00 on the index, a possible banana skin.
At the time of writing, polkadot is up nearly 9% from the same point last week.
Sign up your email here to receive weekly price analysis updates in your inbox:
Could Polkadot move above $7.00 this weekend? Let us know your thoughts on it in the comments.
image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
