The decline of space continues, as the polygon grows – the market updates Bitcoin news

The decline of space continues, as the polygon grows – the market updates Bitcoin news

Ahead of the FOMC meeting on Wednesday, cryptocurrency markets were again trading more, and the polygon (MATIC) was one of the biggest winners today. Despite the fact that the first 20 mostly have an upward trend, some on this list were mostly lower during the session.

The biggest winners

Polygon (MATIC), which was one of the biggest gains in the top 20, rose as much as 12% in Wednesday’s session, reaching an intraday high of $ 1.72 in the process.

The move showed that MATIC / USD jumped from the support level of $ 1.49 and tried to resist at $ 1.77.

At today’s rally, prices rose by a maximum of 4 days, leading to a shift in the RSI from 33 to a reading of 37, the biggest price increase since January 20th.

Although there has historically been an increase in prices at the current rate, if MATIC / USD reaches $ 1.80, market uncertainty could probably increase.

The decline of space continues, as the polygon grows – the market updates Bitcoin news
MATIC / USD – Daily chart

Looking at the chart below, there seem to be a few bearish candlesticks at this level, which could mean that those who entered at $ 1.49 could probably start making a profit the closer we get to resistance.

Traders will now wait to see how this move will play out as we go through the rest of the day.

The biggest losers

Although most cryptocurrencies in the top 20 were green for most of today’s session, there were a few exceptions, with space (ATOM) be one of them.

ATOM fell for the second consecutive session, fell by as much as 9%, resulting in a low of $ 33.47 in the process.

The sale took place at a resistance level of $ 36.25, a long-established ceiling in terms of price movements.

Looking at the chart, there was also a drop between moving averages of 10/25 days, which could mean that the current bearish momentum could continue in the coming days.

The decline of space continues, as the polygon grows – the market updates Bitcoin news
ATOM/ USD – Daily chart

Can we go for $ 29 support? Let us know your opinion in the comments section below.

The decline of space continues, as the polygon grows – the market updates Bitcoin news

Eliman Dambell

Eliman brings a diverse point of view to market analysis, as he has worked as a broker director, retail educator and market commentator in crypto, stocks and currencies.




Image Credits: Shutterstock, Pixabay, Wiki Commons, Tradingview,

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