Friday saw Polygon reach its highest level since early November as markets reacted to the most recent data on U.S. consumer optimism. From a rating of 59.7 in December, sentiment increased to 64.9 in January. In today’s session, Chainlink also soared, reaching its highest price in almost two months.
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, the polygon increased to its highest level since November 11, when prices were last trading at this level of resistance.
The chart demonstrates that the rally started when the 14-day RSI broke through 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.
Another notable mover on Friday was chainlink (LINK), which also surged to a multi-month high.
Early in the day, LINK/USD surged to a high of $7.33, just a day after hitting a low of $6.93.
Chainlink reached its highest point since December 5 as a result of the price increase, which allowed it to break through a price ceiling.
As can be seen from the chart, LINK climbed past its resistance level of $7.25, however, the RSI was unable also to 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.