Polygon rose to a 10-month high on Thursday, while tokens rose for the third consecutive session. Overall, the cryptocurrency market rebounded from its recent losses, with global market capitalization up 5.90% as of this writing. Avalanche also surged, reaching a one-week high.
Polygon (MATIC)
Polygon (MATIC) surged to a 10-month high early on as prices rose for the third consecutive session.
MATIC/USD moved to a peak of $1.39 early in today’s session, a day after trading as low as $1.27.
As a result of Thursday’s high, MATIC/USD jumped to its strongest point since last April.
Looking at the chart, Polygon has had a mini-bull run this week, bouncing off the $1.20 floor before moving to the $1.35 ceiling, today.
However, the earlier rally has eased slightly and the Relative Strength Index (RSI) is approaching the 70.00 ceiling.
As of this writing, the index is at 68.22 and MATIC/USD is hovering around the $1.37 level.
Avalanche (AVAX)
Avalanche (AVAX) extended its recent gains on Thursday, with prices hitting a one-week high.
After hitting a low of $18.39 on Hump Day, AVAX/USD rose to an intraday high of $20.31.
This resulted in the token rising to its highest point since February 8, when it last collided with the $21.00 ceiling.
The chart shows that the initial surge occurred after crossing the 55.00 resistance on the RSI indicator.
However, at the time of this writing, price strength appears to be moving back toward this level.
If the bears continue to push momentum down, AVAX will likely fall to a floor below $18.00.
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Image credits: Shutterstock, Pixabay, Wiki Commons
