Cardano closed in on a one-week excessive to begin the week, because the token climbed for a fourth straight session. Polygon was additionally within the inexperienced, and collided with a key resistance stage within the course of. Total, the worldwide crypto market cap is at the moment 1.30% increased as of penning this evaluation.
Cardano (ADA)
Cardano (ADA) climbed for a fourth straight day to begin the week, pushing it nearer to a one-week excessive within the course of.
Lower than 24 hours after falling to a low of $0.3498, the token surged to an intraday excessive of $0.3646 earlier right now.
The transfer noticed ADA/USD hit its highest level since final Tuesday, shifting in the direction of a worth ceiling within the course of.
Trying on the chart, the aforementioned resistance of $0.3755, which was final hit on October 18, and appears to be the goal for present bulls.
With a view to recapture this level, merchants will first must climb one other resistance, this time on the 14-day relative power index (RSI).
As of penning this, the index is monitoring at 34.57, which is marginally under a ceiling of 36.50.
Polygon (MATIC)
One other notable mover on Monday was polygon (MATIC), which rose to a multi-week excessive.
Following a low of $0.8284 throughout Sunday’s session, MATIC/USD raced to a peak of $0.9067 earlier right now.
At the moment’s surge noticed MATIC climb to its strongest level since September 13, when the token was buying and selling at $0.94.
As will be seen from the chart, Monday’s excessive is barely above a ceiling of $0.90, which has been in place for the final six weeks.
It appears obvious that merchants wish to break this ceiling, nonetheless, a hurdle of 64.00 on the RSI should first be overcome.
Each the 10-day (pink) and 25-day (blue) shifting averages appear to be trending increased, which could possibly be an indication of additional pending rallies.
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