Biggest Movers: MATIC Drops by 10%, ATOM Hits 2-Week Low

Polygon fell by implicit 10% connected Feb. 13, arsenic a reddish question swept done cryptocurrency markets during Monday’s session. Volatility was precocious up of Tuesday’s U.S. user terms scale release, and with the depegging of BUSD. Cosmos besides traded little to commencement the week, hitting a 14-day low.

Polygon (MATIC)

Polygon (MATIC) dropped by arsenic overmuch arsenic 10% to commencement the week, arsenic the planetary cryptocurrency marketplace headdress plunged connected Monday.

Following a precocious of $1.29 connected Sunday, MATIC/USD slipped to an intraday debased of $1.16 earlier today.

Today’s determination saw the token autumn to its lowest level since February 1, erstwhile MATIC was trading astatine a bottommost of $1.06 .

MATIC/USD – Daily Chart

As tin beryllium seen from the chart, Monday’s sell-off occurred arsenic the 14-day comparative spot scale (RSI) fell beneath enactment astatine 55.00

Currently, the scale is tracking astatine 53.53, which is its weakest speechmaking since January 8, erstwhile polygon was valued astatine $0.79.

Should momentum proceed to decline, a level astatine 50.00 could beryllium wherever MATIC bulls find stability, arsenic they statesman to hole for aboriginal rallies.

Cosmos (ATOM)

Cosmos (ATOM) was different notable mover connected Monday, arsenic it besides dropped to a multi-week low.

ATOM/USD fell to a level of $12.85 earlier successful the day, which comes little than 24 hours aft trading astatine $13.94.

Monday’s driblet successful terms sees ATOM commercialized astatine its weakest constituent since January 30, erstwhile the token bottomed retired astatine $12.78.

ATOM/USD – Daily Chart

Looking astatine the chart, today’s determination comes pursuing 2 breakouts, archetypal the $13.00 mark, past a determination beneath a semipermanent level connected the RSI.

This aforementioned constituent of enactment has been the 49.00 zone, which was breached earlier today, with the scale present tracking astatine 46.32.

If momentum continues to determination downward implicit the adjacent fewer days, determination is simply a beardown likelihood that ATOM could beryllium heading to a little enactment astatine $12.50.

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Could cosmos drawback its caller carnivore run, and rebound this week? Let america cognize your thoughts successful the comments.

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