Polygon rose for a second consecutive session on Friday, climbing by as much as 20%. This surge pushed prices of the token to their highest level since May. Cosmos was another big gainer on Friday, with prices rallying to a five-week high. Overall, the cryptocurrency global market cap is now trading 2.64% higher.
Following a low of $0.9267 on Thursday, MATIC/USD rallied to an intraday peak of $1.15 earlier today.
Today’s gains took the token to its highest level in exactly six months, when prices were trading above $1.18 on May 4.
As can be seen from the chart, the move occurred as prices broke out of a key resistance level of $0.95.
In addition to this, the 14-day relative strength index (RSI) is now tracking near a ceiling of 77.00, for the first time since mid-July.
Prices are now deep in overbought territory, which could be an invitation to bears to begin reentering the market in coming days.
ATOM/USD rallied to a high of $14.97 earlier in today’s session, which comes a day after sitting at a bottom of $13.44
This peak has resulted in ATOM hitting its highest point since September 23, when the token failed to move past a ceiling of $15.25.
As of writing, prices have already begun to slip, now at $14.73, which comes as the RSI seems to have hit a wall.
Looking at the chart, the index is tracking at 66.50, close to a ceiling of 66.80, which has also been in place since September.
Unless price strength moves beyond this point, it is unlikely that ATOM will continue to extend today’s gains.
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Do you expect cosmos to climb beyond its upcoming resistance this weekend? Let us know your thoughts in the comments.