Cryptocurrency Prices dropped on Monday as traders attempted to lock in the recent gains. Market Momentum surrounding the digital asset class has shifted, as the global market capitalization traded 2.11% lower than at the time of this writing.
Polygon (MATIC)
Polygon (MATIC) was amongst the more noteworthy movers. On Monday prices pulled away from the recent highs.
MATIC/USD dropped to $1.11 intraday to start the week, below 24 hours after it had achieved a high of $1.19 Sunday.
The move took the polygon to its highest level since November 8, closely reaching $1.20.
Charts suggest that MATIC dropped after a failed breakout on the RSI.
At the time of writing, the index is currently at 62.98, unable to move past resistance level 73.00.
Price action appears to be seeking a floor now, with a target at 60.00 as a potential goal for sellers.
Chain Link (LINK)
Chainlink (LINK) saw its capacity to move past a key price high over the weekend, leading to the fall in the rate.
Following a high amount of $7.45 Sunday, LINK/USD dropped to $6.98 earlier in the day.
Similar to Polygon, at the time of writing LINK has risen to $7.00 after the dips in earlier months eased a bit. This occurs when the RSI reaches a certain level of support.
