Biggest mover: MATIC jumps 25%, re-enters crypto top 20 – Market Update Bitcoin News

MATIC returned to the top 20 cryptocurrencies on Thursday as prices rose more than 25% today. The coin replaces FTT, which made the list after MATIC dropped on Wednesday. atom It also rose today, hitting a 12-day high in the process.

Polygon (MATIC)

MATIC is one of them outstanding promoter In the crypto market on Thursday, the coin re-entered the top 20.

After hitting a low of $0.4042 on Wednesday, MATIC/USD surged to an intraday high $0.5145 earlier today.

The move makes MATIC the world’s 18th largest cryptocurrency by market cap, while hitting an 11-day peak.

Biggest mover: MATIC up 25% as it re-enters crypto top 20
MATIC/USD – daily chart

Despite these gains, bulls appear to be looking at the $0.6650 ceiling as their next price target.

Overall, MATIC is up more than 25% in today’s session, and its seven-day average gain is now close to 30%.

On top of that, the 14-day RSI is at its highest in more than three months after hitting a high of 48.64 earlier today.

All in all, sentiment seems firmly bullish in the short term, but traders will see if this matures in the medium term.

Universe (atom)

atom It also rose to an 11-day high on Thursday as prices rose for a fifth straight session.

Following last week’s low of $5.50, prices hit their lowest since January 2021. atom The bulls are re-entering the market with full force.

Due to this short-term uptick in bullish sentiment, atom/USD rose to a session high of $7.73 earlier in the day.

Biggest mover: MATIC up 25% as it re-enters crypto top 20
atom/USD – daily chart

The gain means prices are now almost 12% above yesterday’s lows, taking them to their highest levels since June 12.

Looking at the chart, this uptick in momentum means that the 10-day moving average is now close to a potential crossover with the 25-day SMA.

If this happens, then we may see the price not only reach but break the $10 resistance level.

do you expect atom Breaking this resistance before the end of the month? Let us know your thoughts in the comments.

Elijah Danbell

Eliman brings an eclectic perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.

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