MATIC, AVAX Rally: 10-Month High for MATIC, AVAX Hits 1-Week Peak

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• Polygon (MATIC) surged to a ten-month high earlier in the day, rising for a third consecutive session.
• Avalanche (AVAX) extended recent gains on Thursday, leading to prices hitting a one-week high.
• Overall, cryptocurrency markets rebounded from recent losses, with the global market cap up 5.90% at the time of writing.

Polygon Reaches 10-Month High

Polygon (MATIC) rallied to a ten-month high on Thursday, as the token rose for a third straight session. MATIC/USD moved to a peak of $1.39 earlier in today’s session, which comes a day after trading at a low of $1.27. As a result of Thursday’s high, MATIC/USD jumped to its strongest point since April last year.

Avalanche Hits One Week High

Avalanche (AVAX) also surged on Thursday, hitting a one-week high. Following a low of $18.39 on hump-day, AVAX/USD raced to an intraday high of $20.31 earlier in the day. This resulted in avalanche climbing to its highest point since February 8th when the token last collided with a ceiling at $21.00 .

Cryptocurrency Markets Rebound From Recent Losses

Overall, cryptocurrency markets rebounded from recent losses, with the global market cap up 5.90% at the time of writing The relative strength index (RSI) for polygon moved close to 70%, while that for avalanche was hovering around 55%.

Technical Analysis

Looking at the chart for polygon and avalanche separately shows that both tokens have had mini bull runs this week after both bouncing off floors and ceilings respectively . Polygon bounced off from$ 1 . 20 while Avalanche bounced off from$ 18 . 39 and reached early highs today before cooling down again , bringing their RSI levels back closer towards their respective floors and ceilings .

Conclusion

In conclusion , both Polygon and Avalanche have seen significant price increases over the past few days , with Polygon reaching its highest point since April 2020 and Avalanche reaching its highest point since February 8th 2021 . Overall , cryptocurrency markets have been recovering from recent losses and are showing signs of further growth potential .