MATIC up 20%, hitting highest level since May.
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.Polygon was trading higher for a second consecutive session on Friday, as it rose by as much as 20%.
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 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.
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