ETC races to 6-week high on Saturday, as MATIC extends recent gains.
Looking at the chart, today’s surge came as the 10-day moving average crossed over its 25-day counterpart.
Recent rallies have also pushed the 14-day relative strength index close to overbought territory, with the indicator tracking at its highest point since last August. Earlier gains have already begun to fade, with previous bulls likely moving to take profit at the level.Polygon was another notable gainer to start the weekend, with the token climbing for a second straight day.Today’s gain has pushed polygon closer to a key resistance level of $0.8200, which was last hit on December 27.As can be seen from the chart, today’s surge has also led to a collision with a ceiling on the RSI, with the index hitting its resistance of 49.
Due to this, earlier gains have somewhat eased, and as of writing, MATIC/USD is trading at the $0.8039 point. In order for MATIC to extend recent gains to a third session, price strength will first need to overcome the 49.00 ceiling on the RSI.Tags in this story
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