The global crypto market cap was $ 1.46 trillion, up 2.3% from last day. MATIC’s market capitalization was up 1.67% at the time of going to press and the technical analysis chart indicated an imminent price breakout. Chainlink buyers stepped up and traders held onto the token as the selling pressure eased. On the flip side, Polkadot saw a drop in buying pressure as of press time.
MATIC was one of the top winners with a 19.2% increase last week. Prices rallied fairly without much bearish intervention and the bullish strength was substantial.
At press time, MATIC was trading at $ 0.94, up 2.1% over the past 24 hours. To stay on the uptrend, it will have to cross two levels of resistance to qualify as a successful reversal. The first is $ 1.06 and the next is $ 1.20.
Bollinger bands converged quite strongly, suggesting that volatility would be low during the immediate trading sessions, but MATIC could see a breakthrough soon. Buying pressure showed uniformity as as Relative Strength Index ran parallel to the 60s mark. Anywhere over 50 the market has enough buying pressure to drive prices higher.
MACD imagined a bullish crossover on July 21st and after that the bullish signal grew. However, at times during some trading sessions bearish signals were detected due to intraday or daily losses. At the time of going to press, green histograms indicated the presence of bullish signals.
Chain link (LINK)
LINK is also up 10% in the past 24 hours, trading in the green when prices were at $ 16.86 at press time. Selling pressure in the market has decreased, as has trading volume, confirming that sellers have begun to hold onto their investment.
If the uptrend continued, the coin would encounter resistance at $ 17.84 immediately. Market cap is up 1.53% as prices continue to trade in the green.
That Relative Strength Index showed an uptrend and approached the 60 mark, meaning that buying pressure increased along with the value of the asset. That Squeeze momentum indicator demonstrated a squeeze release and a buy signal.
Chaikin money flow also showed that capital inflows preceded capital outflows in the market as the demand for LINK grew.
DOT’s prices struggled to break the $ 14.00 mark as the coin fluctuated between the $ 13.45 and $ 14.00 levels in the past few days. The price of DOT was $ 13.45 at the time of writing, having gained 12.7% over the past week.
In the daily timeframe, however, the value fell by 0.9%. Despite a sizeable gain over the past week, the token traded in the red.
The market just got in a tight spot, like on that Squeeze momentum indicator, this also means that a price breakout is to be expected.
If prices fall below the support level, it could rest at the $ 11.84 level. Relative Strength Index observed a decrease in buying pressure, showing that sellers would soon prevail over buyers in the market.
Average direction index pointed to the prevailing market weakness that can be reversed as prices test the next levels of resistance.