Biggest Movers: MATIC, SOL Move Towards 4-Month Highs on Saturday

Polygon rallied to its highest point in nearly four months on Saturday, as the token climbed to the $1.00 mark to start the weekend. Solana was also trading at a multi-month high, as it rose by over 10% earlier in today’s session. As of writing, the global crypto market cap is trading nearly 3% higher.

Polygon (MATIC) was a notable gainer on Saturday, as the token rose to its highest point since May.

Less than 24 hours after trading at a low of $0.9141, MATIC/USD climbed to a peak of $1.02 to start the weekend.

This is the strongest point that the token has traded at since May 7, and comes after prices rallied past a key resistance level.

Looking at the chart, this resistance was at the $0.9500 region, which was last breached on July 31. However, the move eventually turned into a false breakout.

As of writing, another resistance level was hit, with the 14-day relative strength index (RSI) now tracking at a ceiling of its own.

This is the 66 point on the index, which has been in place since July 17, when the RSI moved to a high above the 80 level.

Following earlier highs, MATIC is once again trading below $1.00, as bulls retreated from their previous positions.

In addition to MATIC, solana (SOL) was another big mover in today’s session, with it also climbing to its highest point since May.

SOL/USD raced to an intraday high of $48.18 to start the weekend’s session, as bulls attempted to recapture the $50.00 point.

The move sees solana hit its highest point since May 25, and comes as the 10-day (red) moving average (MA), crossed above the 25-day (blue) MA.

This is the first time since mid-July that such a cross has occurred, with prices rising from a floor of $32, to a ceiling of $47 on that occasion.

In addition to this, the 14-day RSI has also broken its ceiling, surging above the 59.20 resistance for the first time since July 18.

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Can solana hit $50.00 in August? Let us know your thoughts in the comments.