Bitcoin Remains in Bull Territory While Polygon’s MATIC Awaits Breakout
Key points:
Bitcoin topped $56,000 early Friday.
Bitcoin has regained upside momentum following Thursday’s 2.5% drop, which saw the market nearly re-test the former resistance-turned-support near $53,000.
However, another failure to hold $56,000 would validate the overbought reading on the four-hour chart relative strength index (RSI), opening doors for a pullback. A price under $53,000 at 0:00 UTC – the de facto daily cutoff point for most chart readers – would weaken the immediate bullish case.
Meanwhile, MATIC, the native token of the Polygon network, has jumped 10% to a three-week high of $1.42.
With the 14-day RSI biased bullish above 50 and pointing north, MATIC may see further gains