MATIC was one of Friday’s notable movers, as the coin’s price surged for the fifth consecutive session. This came as the crypto markets were mostly in the green for the day’s session, with AAVE hitting a two-week high.
MATIC was a notable mover on Friday, as the token price traded for the fifth day in a row.
Prices hit an intraday peak of $0.5933 earlier in today’s session, reaching their highest level since June 26 in the process.
The move pushed the coin closer to the $0.6000 resistance area, with some bulls opting to close positions near that area.
As can be seen from the chart, the last time the price traded around this range, there was a high degree of uncertainty, and possibly knowing this, the bulls decided to take profit at this mark.
If we look forward from this point, it is likely that we will need an increase in relative strength, which is currently facing a constraint of its own.
At the time of writing, the Relative Strength Index is tracking at 57.15, which is slightly below the resistance level of 57.50.
The AAVE was also in the green during Friday’s session, as prices hit their highest point in two weeks.
After Thursday’s low of $66.32, AAVE/USD climbed above $70.00 on Friday as the token price reached an intraday peak of $74.94.
The move saw the coin climb to its highest point since June 26, which is similar to the high MATIC made earlier today.
Another similarity with AAVE and Matic sees that the former is also hitting a resistance point not only in price but also in terms of relative strength.
Earlier gains faded after a breakout of the $73 ceiling, which probably resulted from its own sealing on the 14-day RSI of 54.
Despite this, AAVE bulls may be eyeing the $80 point, although the bullish sentiment may remain muted until the RSI boundary is breached.
Do you expect AAVE to make further gains this weekend? Let us know your thoughts in the comments.
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