Solana rallied from a two-month low to start the weekend as bulls re-entered the market to buy the recent dip. Overall, the global crypto market capitalization is currently trading 1.8% higher, following a nearly 10% drop on Friday. Polygon was another notable move, as the price rose nearly 7% on Saturday.
Solana (SUN)
Solana was again in the green to start the weekend, as the bulls reappeared after the red wave on Friday.
After a low of $16.19 in yesterday’s session, the SOL/USD reached an intraday high of $18.85 on Saturday.
The move sees solana rise above a recent low at $17.30, pulling away from its weakest point since January 13 in the process.
Looking at the chart, this was helped by the RSI, which found support at the 30.00 level.
At time of writing, the index now sits at 32.85, which despite the bounce, remains in bearish territory.
The momentum from the 10-day moving average (red) continues to trend lower, which could be a sign that more turbulence could be ahead.
Polygon (MATIC)
In addition to sunshine, the range (MATIC) also rebounded from a multi-month low during Saturday’s session.
MATIC/USD jumped almost 7% earlier in the day, hitting a high of $1.09, after falling to $0.9545 on Friday.
This was the lowest point for the token since the last week of January and pushed the price strength deeper into bearish territory.
The RSI for MATIC is now sitting at 35.00, after a move to 32.00 during yesterday’s session.
Overall, the polygon is down almost 12% in the last week, however it looks like it could be on its way to finding a flat.
If this were the case, there could be some longer-term bulls rushing to buy the current dip.
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image credits: Shutterstock, Pixabay, Wiki Commons, sdx15 / Shutterstock.com
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