Cardano was one of the notable gainers on July 4th, as the token jumped to a ten-day high in today’s session. The move came as the global cryptocurrency market was mostly in the green, despite the lower than usual market volume. Polygon also hit a multi-week high.
Cardano (ADA)
Cardano (ADA) climbed to a ten-day high on Tuesday, despite the market volume being low as a result of Independence Day in the United States.
ADA/USD rose to a peak of $0.3009 earlier in the session, which comes a day after dropping to a bottom at $0.2917.
Following today’s rally, cardano jumped to its highest level since June 25, when the token was above $0.305.
As seen on the chart, Tuesday’s move pushed ADA marginally above a ceiling of $0.295, however bears have rejected a full breakout.
The token is now hovering close to this point, with the relative strength index (RSI) below a ceiling of its own at 51.00.
Price strength is currently at a reading of 49.91, after earlier momentum faded.
Polygon (MATIC)
Polygon (MATIC) remained near a four-week high in today’s session, following a five-day bulls run.
MATIC/USD bulls pushed the price to a peak of $0.7193 late on Monday, with traders consolidating these gains today.
The token dropped to an intraday low of $0.6829 earlier in the session, after reaching its strongest point since mid-June the day prior.
One of the catalysts of the drop appears to be a collision with a ceiling at 55.00, which is on the RSI indicator.
At the time of writing this, the index is now at a reading of 51.60, which is marginally above floor at 51.00.
Should this floor fail to hold in the coming days, it is likely that more bears will reenter the market.
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