Polygon was a notable gainer on Friday, as cryptocurrencies moved higher following a turbulent week of trading. The global crypto market cap is 2.28% higher than of writing, as markets prepared for the release of US consumer sentiment data. Quant was another big mover, as prices surged for a second straight day.
Polygon (MATIC) was a notable mover on Friday, as the token surged to its highest point since Monday.
Following a low of $0.9062 on Thursday, MATIC/USD raced to an intraday peak of $0.9324 earlier today.
As a result of this, the token moved closer to a key resistance level of $0.9540, which was last hit December 4.
MATIC/USD – Daily chart
Whilst prices near a ceiling, the 14-day relative strength index (RSI) has also moved towards its own point of support at 53.00.
The 10-day (red) moving average is also trending higher, with it remaining above its 25-day (blue) counterpart.
Despite recent turbulence, this is a sign of bullish momentum in the market, with some expecting further surges in price this weekend
Quant (QNT) was another token to surge on Friday, with prices rising for a second straight session.
QNT/USD moved to a high of $124.88 earlier in the day, less than 24 hours after hitting a bottom at $120.70.
Today’s move sent QNT past a recent resistance point at $122.00, with bulls now appearing to take price to a higher ceiling.
QNT/USD – Daily chart
Looking at the chart, this point of resistance seems to be the $132.00 mark, which is where quant started the week.
In order to recapture this mark, QNT bulls will first need to overcome the upcoming resistance on the RSI of 52.00.
Register your email here to get weekly price analysis updates sent to your inbox:
Could we see quant hit this point over the weekend? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Comments are closed.