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The cryptocurrency market has had a mixed trading day, with some cryptocurrencies consolidating and others exhibiting astonishing increases. MATIC was among the top ten gainers in the market today, gaining 21.8 percent and returning to a multi-month high.
Axie Infinity also saw a 13.1 percent increase, bringing it closer to $92.9. After rising yesterday, Litecoin showed range-bound action, gaining only 0.7 percent.
Litecoin secured a multi-month high yesterday. It was trading at $217.40 at press time, after rising by 0.7%. The altcoin can touch its overhead resistance of $218.77, if it maintains its uptrend.
Technical indications indicated that the market was bullish. Because the asset was overvalued, the Relative Strength Index was above 75. As capital inflows continued solid, Chaikin Money Flow was also in the optimistic zone.
Green bars on the MACD histogram, on the other hand, had been declining in recent trading sessions. Furthermore, the indicator was found to be at a three-month high. On the downside, LTC found support around $194.13, and a drop below that level would send LTC to its two-week low of $160.58.
MATIC has gained 21.8 percent in the last 24 hours and is now trading at $1.72. The altcoin has recaptured its three-month high at the current price level. If MATIC continues to rise, it might break through the $1.78 price barrier and trade towards the $1.87 resistance level.
MATIC’s indicators provided an optimistic picture. After a bullish crossover, MACD flashed green bars on its histogram. The Relative Strength Index was close to 75.
The Awesome Oscillator flashed green signal bars and hit a multi-week peak. If there is a corrective price pullback, MATIC might fall to $1.70 and subsequently to $1.53. Additional support levels stood at $1.38 and $1.28, which would mark a one week low for the coin.
Axie Infinity (AXS)
AXS gained 13.1 percent in the previous day and was trading at $84.32. The token might return to its all-time high of $92.92 if it continues to increase. AXS could target the psychological price mark of $95, if it rises above the aforementioned price level.
The Relative Strength Index was near 60, indicating that the token has slid out of the overbought zone due to the decrease in buying pressure. Due to a negative trading session, the Awesome Oscillator flashed a red signal bar after a sequence of green signal bars.
Bollinger Bands diverged, implying AXS could undergo increased price volatility. If Axie moved south, the altcoin will meet its immediate support level at $79.71. A fall from this level would mean it will land on its weekly low of $68.62.
In recent news, Axie Infinity has been enabling unemployed gamers to monetarily benefit from trading in cryptocurrency.