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 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 1 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

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 (atoms)

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

ATOM bulls are back in the market in full force, following last week’s low above $5.50 and prices hitting their lowest since January 2021.

ATOM/USD rose to a session high of $7.73 earlier today on the back of a short-term uptick in bullish sentiment.

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

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

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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 to break this resistance by the end of the month? Let us know your thoughts in the comments.

Eliman Dan Bell

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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