Biggest Movers: MATIC, QNT Move Higher on Friday, as Cryptos Rebound
Polygon was a notable gainer on Friday, as cryptocurrencies moved higher following a turbulent week of trading. The global crypto market cap is 2.28% higher as of writing, as markets prepared for the release of U.S. consumer sentiment data. Quant was another big mover, as prices surged for a second straight day.
Polygon (MATIC) was a notable mover on Friday, as the token surged to its highest point since Monday.
Following a low of $0.9062 on Thursday, MATIC/USD raced to an intraday peak of $0.9324 earlier today.
As a result of this, the token moved closer to a key resistance level of $0.9540, which was last hit December 4.
Whilst prices near a ceiling, the 14-day relative strength index (RSI) has also moved towards its own point of support at 53.00.
The 10-day (red) moving average is also trending higher, with it remaining above its 25-day (blue) counterpart.
Despite recent turbulence, this is a sign of bullish momentum in the market, with some expecting further surges in price this weekend
Quant (QNT) was another token to surge on Friday, with prices rising for a second straight session.
QNT/USD moved to a high of $124.88 earlier in the day, less than 24 hours after hitting a bottom at $120.70.
Today’s move sent QNT past a recent resistance point at $122.00, with bulls now appearing to take price to a higher ceiling.
Looking at the chart, this point of resistance seems to be the $132.00 mark, which is where quant started the week.
In order to recapture this mark, QNT bulls will first need to overcome the upcoming resistance on the RSI of 52.00.
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Could we see quant hit this point over the weekend? Let us know your thoughts in the comments.