• Polygon (MATIC) rallied to a ten-month high on Thursday, with prices rising for three consecutive sessions.
• Avalanche (AVAX) also surged, hitting a one-week high as it moved to its highest point since February 8.
• Cryptocurrency markets overall rebounded from recent losses, with the global market cap up 5.90% at the time of writing.
Polygon Hits 10-Month High
Polygon (MATIC) rose to a ten-month high on Thursday, as the token rose for a third straight session. MATIC/USD moved to a peak of $1.39 earlier in today’s session, which comes a day after trading at a low of $1.27. The relative strength index (RSI) moved close to a ceiling at 70.00 and was tracking at 68.22, with MATIC/USD at the $1.37 mark at the time of writing.
Avalanche Extends Recent Gains
Avalanche (AVAX) extended recent gains on Thursday, leading to prices hitting a one-week high. AVAX/USD raced to an intraday high of $20.31 earlier in the day and climbed to its highest point since February 8 when the token last collided with a ceiling at $21.00. The initial surge took place following a break beyond resistance at 55 on the RSI indicator but price strength appears to be moving back towards this level again as bears continue pushing momentum lower potentially leading AVAX down below $18 once more..
Crypto Markets Rebounding
Overall cryptocurrency markets have been rebounding from recent losses, with the global market cap up 5.90% at the time of writing indicating some positive sentiment amongst traders and investors within these digital assets class despite volatility still being present across many coins and tokens alike..
Technical Analysis Summary
Polygon has had mini bull run this week after bouncing off support levels near $1.20 before surging towards ceilings near $1 .35 while Avalanche has seen strong upward momentum continuing past resistance marks before possibly falling back down should bearish pressure continue pushing prices downwards again soon enough..
Conclusion
Overall cryptocurrency markets have been recovering from recent losses and both Polygon and Avalanche have seen encouraging signs of growth over recent days suggesting that bullish sentiment may be returning once more amongst traders and investors alike