Polygon rose to its strongest point since last April, as prices rose by as much as 6% on Feb. 8. The token surged for a second straight session, after snapping a three-day losing streak on Tuesday. Cosmos also surged higher in today’s session, as it moved closer to recent highs.
Polygon (MATIC) extended a recent rally on Wednesday, with prices jumping to a ten-month high.
Following a low of $1.22 on Tuesday, MATIC/USD raced to an intraday high of $1.31 in today’s session.
Today’s move saw MATIC/USD climb to its strongest point since April 26, 2022, when the token was at a high of $1.36.
As can be seen from the chart, the surge in price sent the 14-day relative strength index (RSI) to a long-term resistance point of 71.00.
So far, bullish momentum has not been strong enough to pass this zone, with the index now tracking at 69.83.
Should a breakout occur over the coming days, it is likely that traders will target a ceiling at $1.35.
Another notable mover on hump day was cosmos (ATOM), which also closed in on a recent multi-month high.
ATOM/USD ascended to a peak of $15.18 earlier in the day, which comes after trading at a low of $14.32 on Tuesday.
This resulted in ATOM moving closer to a long-term resistance level at $15.20, and not far from last Friday’s high at $15.44.
The aforementioned top was the strongest point that cosmos had hit since November 5, and it appears as though bulls are looking to recapture this.
As of writing, the RSI is tracking at 64.23, and in order to achieve the above, a move beyond an upcoming ceiling of 65.00 must occur.
Overall momentum still seems to be bullish, with further higher highs possible as the session progresses.
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Do you expect cosmos to move above $15.44 this week? 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 online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
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.
Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.
Polygon rose to its strongest point since last April, as prices rose by as much as 6% on Feb. 8. The token surged for a second straight session, after snapping a three-day losing streak on Tuesday. Cosmos also surged higher in today’s session, as it moved closer to recent highs.
Polygon (MATIC) extended a recent rally on Wednesday, with prices jumping to a ten-month high.
Following a low of $1.22 on Tuesday, MATIC/USD raced to an intraday high of $1.31 in today’s session.
Today’s move saw MATIC/USD climb to its strongest point since April 26, 2022, when the token was at a high of $1.36.
As can be seen from the chart, the surge in price sent the 14-day relative strength index (RSI) to a long-term resistance point of 71.00.
So far, bullish momentum has not been strong enough to pass this zone, with the index now tracking at 69.83.
Should a breakout occur over the coming days, it is likely that traders will target a ceiling at $1.35.
Another notable mover on hump day was cosmos (ATOM), which also closed in on a recent multi-month high.
ATOM/USD ascended to a peak of $15.18 earlier in the day, which comes after trading at a low of $14.32 on Tuesday.
This resulted in ATOM moving closer to a long-term resistance level at $15.20, and not far from last Friday’s high at $15.44.
The aforementioned top was the strongest point that cosmos had hit since November 5, and it appears as though bulls are looking to recapture this.
As of writing, the RSI is tracking at 64.23, and in order to achieve the above, a move beyond an upcoming ceiling of 65.00 must occur.
Overall momentum still seems to be bullish, with further higher highs possible as the session progresses.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect cosmos to move above $15.44 this week? 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 online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
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.
Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.
Over the past 90 days, the top privacy coins by market capitalization have seen an increase of just over $2 billion, rising from $4.65 billion on Nov. 9, 2022 to $6.69 billion today. However, while crypto assets such as bitcoin and ethereum saw gains of 30% or more in 30 days, privacy tokens like monero and zcash saw more modest increases, with growth ranging from 8.7% to 10.6% in the last month.
Statistics show that top privacy crypto assets saw less growth in the past month compared to the top two crypto assets, bitcoin and ethereum. However, one privacy coin, dash (DASH), which is the second largest privacy token by market capitalization, saw a significant increase of 38.7% against the greenback last month. Meanwhile, monero (XMR) saw a rise of 8.7% in value, and zcash (ZEC) increased by 10.6% over 30 days. Currently, the top three privacy coins by market value are XMR, DASH, and ZEC.
90-day statistics show that while monero (XMR) and zcash (ZEC) saw modest gains, the privacy coin economy saw an increase of $2 billion. Three months ago, XMR was trading at $129 per coin and as of Wednesday, it is trading at $168 per unit. Dash (DASH), which was trading at $36.60 per coin, is now changing hands for $65.83. Zcash was trading at $38.37 per coin on Nov. 9, 2022, and as of Feb. 8, 2023, ZEC is trading at $46.90. Although these three privacy coins make up the majority of the collective $6.69 billion in value, some lesser-known tokens have recorded larger gains.
The privacy coin daps coin (DAPS) saw an increase of 884.5% in one week, while phore (PHR) rose by 110.3% against the U.S. dollar in seven days. Other notable privacy coins that saw gains include raze network (RAZE), up 74.3%, axe (AXE), up 32.9%, and cloakcoin (CLOAK), up 31.8% in the past week. Privacy coin (PRCY), however, saw a decrease of 32.3% this week, iridium (IRD) slid by 17.3%, and deeponion (ONION) lost 16.7% against the greenback. Notable 24-hour gainers include horizen (ZEN), up 16%, dusk network (DUSK), up 11%, and digibyte (DGB), up 10.6% in fiat value.
What do you think is the future of privacy coins in the cryptocurrency market? Share your thoughts in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Source From : News