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Polygon fell to a six-week low on Tuesday, with sentiment in cryptocurrency markets remaining bearish. The value plunged as shopper confidence in the USA fell by greater than anticipated, coming in at a studying of 101.3 in April. Solana additionally slipped, hitting a two-week low.
Polygon (MATIC)
Polygon (MATIC) dropped to a six-week low on Tuesday, as sentiment in cryptocurrency markets remained bearish.
MATIC/USD dropped for a 3rd straight session, hitting an intraday low of $0.9633 within the course of.
The transfer got here lower than a day after polygon was buying and selling at a peak of $1.01, with at this time’s fall sending it to its weakest level since March 10.
Because of the sell-off, it seems that MATIC bears are focusing on a flooring on the $0.95 mark.
From the chart, one of many catalysts for the drop appears to be a breakout that occurred on the relative energy index (RSI).
The index fell beneath a flooring at 32.00, and is at present monitoring at 31.13, which is its lowest studying since final June.
Solana (SOL)
Solana (SOL) was one other notable mover on Tuesday, because the token moved nearer to a flooring at $20.00.
Following a excessive of $21.95 to begin the week, SOL/USD dropped to a low of $20.92 earlier in at this time’s session.
In the present day’s slippage despatched solana to its lowest stage since April 11, when worth fell to a backside at $20.83.
On the time of writing, SOL has considerably risen from its earlier low, and is at present buying and selling at $20.95.
Along with this, the RSI indicator continues to trace close to a flooring at 42.00, with a gift studying of 42.66.
Ought to it fall beneath this level of help, it’s extremely probably that solana will drop beneath $20.00.
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