Biggest Movers: MATIC Nears 3-Month High, as LINK Extends Recent Gains

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Polygon rose to its highest level since early November on Friday, as markets reacted to the latest U.S. consumer sentiment data. Sentiment rose to 64.9 in January, up from a reading of 59.7 in December. Chainlink also surged in today’s session, hitting its strongest point in nearly two months.

Polygon (MATIC)

Polygon (MATIC) was a big gainer on Friday, as prices rose to their highest point in 11 weeks.

Following a low of $1.07 on Thursday, MATIC/USD raced to an intraday peak of $1.15 earlier today.

As a result of this, polygon moved to its strongest point since November 11, which is the last time prices were trading at this point of resistance.

MATIC/USD – Daily Chart

Looking at the chart, the surge took place when the 14-day relative strength index (RSI) broke out of a ceiling at 69.00.

As of writing, the index is tracking at 72.14, and appears to be en route to a ceiling at the 77.00 mark.

Should this occur, there is a strong possibility that MATIC will be trading above the $1.20 mark.

Chainlink (LINK)

Another notable mover on Friday was chainlink (LINK), which also surged to a multi-month high.

LINK/USD jumped to a high of $7.33 earlier in the day, which comes less than a day after falling to a low of $6.93.

This rally in price pushed chainlink to its highest point since December 5, breaking it out of a price ceiling in the process.

LINK/USD – Daily Chart

As can be seen from the chart, LINK climbed past its resistance level of $7.25, however the RSI was unable to also achieve this feat.

Price strength is currently at a reading of 64.15, which is marginally below a ceiling at 65.00.

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Do you expect chainlink to move towards $7.50 this weekend? Let us know your thoughts in the comments.

Eliman Dambell

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.




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