DOGE and MATIC Rally to 2-Month Highs on Monday

Dogecoin (DOGE) and Polygon (MATIC) witnessed remarkable rallies on Monday, with DOGE breaking key resistance and MATIC reaching a multi-month high. This surge in the cryptocurrency market comes amidst a generally positive sentiment, despite a downturn in global stock indices.

Post Text (Maximum 200 words): To kick off the week, Dogecoin (DOGE) made a strong move, surging by more than 10% as the overall cryptocurrency market sentiment remained largely bullish. The global crypto market cap has increased by 2.34% at the time of writing, even as global stock indices experienced a downturn.

Notably, DOGE managed to break past a critical resistance level during the session. After hitting a low of $0.06068 on Sunday, DOGE/USD quickly rose to an intraday high at $0.06525. This surge allowed Dogecoin to breach the $0.0640 ceiling, marking its highest point since August 31. The breakout was partly driven by the 14-day relative strength index (RSI) crossing the 65.00 level.

As of now, the RSI stands at 65.94, with remaining bulls possibly eyeing the 70.00 level. While some of the earlier gains have receded, DOGE currently trades at $0.06407.

Meanwhile, Polygon (MATIC) also experienced a significant surge on Monday, reaching a multi-month high. MATIC/USD hit $0.6315 at the start of the week, a substantial increase from its low of $0.56 the previous day. This move pushed Polygon to its strongest point since August 16, when it reached a high of $0.638.

Despite this impressive rally, MATIC’s RSI remains just below the 69.00 ceiling, with the index now at 66.60, and the 10-day moving average approaching a crossover with the 25-day counterpart.

Disclaimer: The information provided in this article is for educational and informational purposes only. It should not be considered financial advice from Cryptozi or any other entity. We want to emphasize that if readers use the content or services mentioned in this article, Cryptozi is not responsible for any resulting losses. Therefore, it is strongly advised to exercise caution and consult with financial professionals before making any financial decisions that could impact your financial situation.

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