Biggest Movers: MATIC Climbs 20% to Hit 2-Month High, as AVAX Nears 6-Week Peak

Polygon was up by astir 20% to commencement the week, arsenic the token rallied to its highest level since May. Today’s surge comes arsenic crypto markets were mostly successful the green, with avalanche besides hitting multi-week highs, and arsenic of writing, is up by implicit 10% connected the day.

Polygon (MATIC)

Polygon (MATIC) was 1 of the astir notable gainers successful crypto markets connected Monday, arsenic prices roseate by astir 20%.

Following a debased of $0.7464 connected Sunday, MATIC/USD raced to an intraday precocious of $0.9269 to commencement the week.

This is the highest level the token has traded astatine since May 9, erstwhile prices were falling beneath the $1.00 mark.

Just implicit 8 weeks aboriginal we are present connected the cusp of re-entering the $1.00 region, arsenic bullish unit continues to mount.

As a effect of this mid-term upside momentum, the 10-day moving mean has continued to widen its crossover with the 25-day MA, which was the catalyst down this caller rally.

However, it indispensable beryllium noted that the 14-day RSI is tracking supra 77, which is its higher speechmaking since October 2021, and this could beryllium 1 of the biggest obstacles preventing MATIC from recapturing the $1.00 level.

Avalanche (AVAX)

Another large mover connected Monday was avalanche (AVAX), which besides roseate by implicit 10% successful today’s session, hitting multi-week highs successful the process.

Earlier today, AVAX/USD roseate for a sixth consecutive day, hitting a highest of $24.08 successful the process of this run.

The determination saw prices determination past a cardinal absorption level of $21.10, which has been held successful spot since June 9.

Since breaking this ceiling, bulls look to beryllium targeting different one, with the $28.00 people appearing to beryllium the adjacent constituent of interest.

Similar to polygon’s chart, the RSI present indicates that prices are presently overbought, with the scale presently tracking astatine 62.8.

This is its astir since April 4, nevertheless terms spot would request to caput towards 70 if AVAX is to proceed its upward trend.

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Do you expect avalanche to deed $28 this week? Let america cognize your thoughts successful the comments.