Biggest Mover: MATIC Climb 25% and Re-enter Top 20 Cryptocurrencies – Market Update Bitcoin News

MATIC returned to the top 20 cryptocurrency list on Thursday, with prices up more than 25% in today’s session. It replaced the FTT token, which entered the list after the drop in MATIC on Wednesday. corn It rallied today as well, hitting a 12-day high in the process.

Polygon (Matic)

MATIC was one of the Notable movers In the crypto markets on Thursday, the coin returned to the top 20 list.

After a low of $0.4042 on Wednesday, MATIC/USD climbed to an intraday high of $0.5145 earlier today.

The move saw MATIC become the 18th largest in the world by market capitalization, all while peaking at 11 days.

Biggest mover: MATIC climbs 25% as it re-enters the Top 20 Cryptocurrency List
MATIC / USD – daily chart

Despite these gains, the bulls seem to be eyeing the $0.6650 ceiling as the next price target.

Overall, MATIC price is up more than 25% in today’s session, with its seven-day average now approaching a 30% increase.

In addition, the 14-day RSI is tracking its highest point in more than three months, after reaching a high of 48.64 earlier today.

Overall, sentiment appears to be strongly bullish in the short term, however traders will see if this matures in the medium term.

Cosmos (corn)

corn It also rose to an 11-day high on Thursday, as prices rose for the fifth consecutive session.

After breaking through the low of $5.50 last week, which saw prices reach their lowest level since January 2021, corn The bulls returned to the market in full force.

As a result of this short-term rise in bullish sentiment, cornThe US dollar rose to an intraday high of $7.73 earlier today.

Biggest mover: MATIC climbs 25% as it re-enters the Top 20 Cryptocurrency List
corn/ USD – daily chart

These gains mean that prices are now trading nearly 12% higher than yesterday’s lows, sending them to their highest level since June 12.

Looking at the chart, this absorption of momentum means that the 10-day moving average is now approaching a possible crossover with the 25-day simple moving average.

Should that happen, we will most likely see prices not only reach the resistance but also break it at $10.

Do you expect corn To get out of this resistance before the end of the month? Let us know your thoughts in the comments.

Eliman Dambel

Eliman offers an eclectic view of market analysis, having served as a brokerage manager, retail trading educator and market commentator on Crypto, Stocks, and FX.

photo credits: Shutterstock, Pixabay, Wikicommons

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