25 May 2023
Tron was a notable gainer on Thursday, as the token edged closer to a fresh one-year high in today’s session. This came despite the global cryptocurrency market cap mostly trading lower, falling by 1% as of writing. Polygon also rebounded today.
Tron (TRX) was marginally higher on Thursday, as the token moved back towards a one-year high.
Following a low of $0.07651 on Wednesday, TRX/USD raced to an intraday peak of $0.07819 earlier today.
The move came as prices rebounded following a drop which took place yesterday, which came as a result of profit taking.
Looking at the chart, the bounce occurred as the 14-day relative strength index (RSI) found a support point.
This aforementioned floor was at the 70.00 level, which is already deep in overbought territory
Price strength is now tracking at 70.42, with bears likely to attempt to send the token lower in the coming days.
Polygon (MATIC) was another notable mover on Thursday, as the token also rebounded today.
MATIC/USD hit a peak of $0.8895 earlier in the day, which comes less than 24 hours after trading at a low of $0.8591.
As a result of today’s surge, MATIC rose by as much as 3%, moving away from a recent floor at $0.8390 in the process
Earlier gains have somewhat eased however, which comes as the RSI collided with a ceiling at 45.00
The index has since slipped, and as of writing, is tracking at 44.06, with TRX at $0.07758.
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