MATIC rallied back into the cryptocurrency top 20 on Thursday, as prices gained over 25% in today’s session. The token replaced FTT, which entered the list on Wednesday following a drop in MATIC. ATOM also surged today, reaching a 12-day high in the process.
Polygon (MATIC)
MATIC was one of them standout movers In the crypto markets on Thursday, the token re-entered the top-20 list.
After hitting a low of $0.4042 on Wednesday, MATIC/USD climbed to an intraday peak of $0.5145 earlier today.
The move made MATIC the 18th largest cryptocurrency in the world by market capitalization, all the while reaching an 11-day peak.
Despite these gains, it appears that the bulls are looking towards the $0.6650 range as the next price target.
Overall, MATIC is up over 25% in today’s session, with its seven-day average now up close to 30%.
Moreover, the 14-day RSI is tracking its highest point in three months, after hitting a high of 48.64 earlier today.
Overall, the sentiment looks to be bullish in the near term, although traders will see if it matures in the medium term.
universe (atom)
ATOM also hit an 11-day high on Thursday as the price rose for the fifth consecutive session.
After breaking out of its floor of $5.50 last week, which saw prices hit their lowest point since January 2021, ATOM bulls re-entered the market with full force.
As a result of this short-term increase in bullish sentiment, ATOM/USD reached an intraday peak of $7.73 earlier today.
This gain means that the price is now trading around 12% higher from yesterday’s lows, sending them to their most valuable levels since June 12.
Looking at the charts, this bullish momentum means that the ten-day SMA is now nearing a potential crossover with the 25-day SMA.
If this happens, we will see the price not only reach $10 but also break the resistance.
Do you expect ATOM to break out of this resistance before the end of the month? Let us know your thoughts in the comments.
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