Polygon (MATIC) and Aave (AAVE), two prominent cryptocurrencies, have recently shown strong bullish momentum. This development follows prolonged periods of downtrends, sparking renewed interest among traders.
MATIC, the native token of the Polygon network, has shown significant movement in the 2-day timeframe. According to recent analysis by Clifton Fx, MATIC is breaking out from a long-standing downtrend line. This breakout suggests a possible shift in market sentiment, with the token likely targeting higher price levels.
The breakout is further supported by the RSI, which has crossed into bullish territory, indicating increased buying pressure. Additionally, the MACD histogram is showing signs of a bullish crossover, reinforcing the potential for upward momentum. At press time, MATIC was trading at $0.4741, reflecting a 7.52% increase in the last 24 hours. Its market cap has also surged by 7.54% to $4.72 billion, with a significant 24-hour trading volume of $257.1 million, up 29.85%.
On the other hand, AAVE, a leading DeFi token, has also exhibited impressive strength and is already experiencing substantial gains. A recent post by Clifton Fx highlights that AAVE has already achieved over 50% profit after the breakout, demonstrating strong bullish momentum. The breakout from its downtrend line has been confirmed, and the token continues to surge.
The RSI for AAVE is in overbought territory, signaling robust market enthusiasm. The MACD is also reflecting a strong bullish trend, with the lines diverging upwards, further indicating continued upward momentum. The ongoing rally is a positive signal for traders, as the cryptocurrency appears to have entered a new phase of bullish momentum.
Aave Targets $200, Polygon Set for a 143% Surge: AnalysisAt press time, AAVE was trading at $140.58, showing a 9.46% increase in the last 24 hours. Its market cap has risen by 8.66% to $2.09 billion, with a 24-hour trading volume of $363.5 million, marking a 12.75% increase.
Both MATIC and AAVE’s recent price movements are displaying strong technical signs of potential continued growth. The breakouts from their respective downtrend lines, with supportive RSI and MACD indicators, suggest that these tokens could be set for further upward movement.
