• Solana (SOL) and Polygon (MATIC) both rebounded from multi-month lows during Saturday’s session.
• Solana recovered from a two-month low to an intraday peak of $18.85, while MATIC/USD jumped by nearly 7% earlier in the day.
• The global crypto market cap is currently trading 1.8% higher, following a nearly 10% drop on Friday.
Biggest Movers: SOL Rebounds From 2-Month Low to Start the Weekend
Solana rebounded from a two-month low to start the weekend, as bulls reentered the market to buy the recent dip. Overall, the global crypto market cap is currently trading 1.8% higher, following a nearly 10% drop on Friday. Polygon was another notable mover, as price rose by nearly 7% on Saturday.
Solana was back in the green to start the weekend, as bulls reappeared following Friday’s red wave. Following a low of $16.19 in yesterday’s session, SOL/USD moved to an intraday peak of $18.85 on Saturday. The move sees solana climb above a recent floor at $17.30, moving away from its weakest point since January 13 in the process.
Looking at the chart, this was helped by the relative strength index (RSI), which found a point of support at the 30.00 level. As of writing, the index is now tracking at 32.85, which despite the rebound, remains deep in bearish territory. The momentum of the 10-day (red) moving average continues to trend downwards, which could be a sign that there could be more turbulence ahead.
In addition to solana, polygon (MATIC) also rebounded from a multi-month low during Saturday’s session