MATIC was one of the notable moves on Friday, with token prices rising for the fifth consecutive session. This was due to the crypto market turning green for most of the day’s sessions, with AAVE hitting a two-week high.
Polygon (MATIC)
MATIC made a notable move on Friday, sending the token’s price up for the fifth day in a row.
Prices rose to an intraday peak of $0.5933 as early as today’s session, hitting their highest level since June 26 in the process.
The move brought the token closer to the $0.6000 resistance level, with some bulls opting to liquidate their positions in that area.
As you can see from the chart, the last time the price traded near this ceiling there was a high level of uncertainty, as it is likely to know bullishness has decided to take profits at this mark.
If we are to see a move beyond this point, we would need to see an improvement in relative strength, and that strength is currently facing obstacles.
At the time of this writing, the Relative Strength Index is hovering at 57.15, just below resistance at 57.50.
AAVE
AAVE remained in the green during Friday’s session as prices rose to their highest level in over two weeks.
After hitting a low of $66.32 on Thursday, AAVE/USD rose above $70.00 on Friday, with the token’s price hitting an intraday peak of $74.94.
The move took the token to its highest price since June 26, similar to the high reached by MATIC earlier today.
Another similarity between AAVE and MATIC is that the former has also hit a resistance point in terms of price as well as relative strength.
The $73 ceiling has been breached and the 14-day RSI has hit the ceiling at 54, which seems to have reduced the previous gains.
However, until the RSI ceiling is broken, bullish sentiment may continue.
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