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Greatest Movers: MATIC Slips on Saturday, RUNE and LUNA Over 5% Decrease

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MATIC fell to its long-term assist stage on Saturday, following a surge in worth throughout Friday’s session. This got here as each RUNE and LUNA additionally dropped, and traded by as a lot as 5% decrease to start out the weekend.

Polygon (MATIC)

Throughout what has been a bearish begin to the weekend, MATIC was one of many greatest losers to this point in Saturday’s session.

MATIC, which traded at its long-term resistance stage of $1.50 on Friday, fell all the best way to its assist level earlier immediately.

As of writing, Saturday noticed MATIC/USD drop to a backside of $1.35, which can be its long-term ground, and is now round $0.10 away from a two-month low.

Right now’s selloff comes following robust positive aspects on Friday, nevertheless bullish momentum eased, as costs bumped into the ceiling.

Along with this worth ceiling, the 14-day RSI noticed its personal resistance reached, as relative power failed to interrupt above the 45 stage.

MATIC has principally consolidated between $1.35 and $1.50 throughout the month of April, and as market uncertainty continues, it seems to be like we might finish the month buying and selling inside this vary.

THORChain (RUNE)

There was no rebound in worth for RUNE, which fell for a fourth consecutive session to start out the weekend.

Thus far this Saturday, RUNE/USD has slipped to a backside of $8.21, which is three days faraway from a peak of $9.88, the place bulls had been trying to interrupt the $10 threshold.

Nevertheless, since then momentum has solely pale, with the mid-term 25-day (blue) transferring common now firmly decrease, because it continues to pattern downward.

One constructive for bulls nevertheless, is that this downward descent helps enhance the probabilities of a cross with the 10-day (pink), which may assist set off a rebound.

Usually, when the 25-day transferring common slips, worth power follows, and often resides in oversold territory, which bulls use as an indication to purchase low.

As of writing, the 14-day RSI is now monitoring at 47.02, nevertheless we may see relative power transfer in the direction of a ground of 44, ought to this current bearish strain stay.

May we see RUNE commerce above $10 earlier than the tip of the month? Tell us your ideas within the feedback.

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