Solana, MATIC Price Analysis – 2 September

Most altcoins appear to post healthy gains as Bitcoin aims to explore the price levels past $50,000. Solana and MATIC ride upside waves amid money-making developments. Polygon surged by 8.8% since yesterday. That is after MATIC’s scalability updates and increased institutional interest. Solana targets a revisit to its ATH at $125.95 after gaining 7% over the past 24 hours. Lastly, BAT managed to retest its 1-week high in eight days following 4.6% upticks in a day.

MATIC

The past 24 hours have MATIC trading at $1.51 following 8.8% gains. The token managed to touch the level for another time in eight days. For now, the coin’s overhead resistance lies at $1.53. Conquering this zone might see the asset tagging its target at $1.72. Meanwhile, MATIC has to maintain above $1.28 support to ensure a sustained bullish outlook. The best thing is that Polygon’s technical parameters support positive price movements.

For now, MATIC anticipates an increased buying pressure after the recent announcement about scalability solutions. As the MACD sees emerging green histograms, the RSI moved closer to the overbought region.

On the other hand, Bollinger Bands expanded, confirming that volatility might hike. Meanwhile, MATIC has its immediate support at $1.38, the level that propelled three price upticks in two weeks. If the coin drops under $1.38, it will have its following support zone at $1.28.

Solana

SOL surged by 7% to $116.78. If the positive actions prevail, the asset might move to retest the ATH at $125.95. The asset’s technicals suggest bullishness regardless of the slight pullback at this publication. The RSI maintained over the 50-level. On the other side, the Chaikin Money Flow shows an uptick in capital inflows.

At the same time, MACD shows red histograms. If the market records profit-booking, SOL might plunge to $99.92 then $91.22. Solana has had impressive gains after the network ventured into the NFT industry in the last few weeks. The promising developments saw Solana surpassing Polygon in market capitalization.

For now, the altcoin market enjoys healthy gains as the tokens have been positing ATHs in the past weeks. Do you think that the market will retain its upside moves? You can utilize the comment section below.

Author: Michael Ellis

Michael is an avid cryptocurrency enthusiast and writer. He is the main writer for Cryptocoin Stock Exchange.

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