Surprisingly, the Crypto Fear & Greed Index dropped by one point within the last day as the market jumped into the green territory. That reading shows the recovery could not alter the broad market sentiment.

MATIC witnessed a double-digit surge to reclaim the 61.8% mark. The positive sentiment in the global market had alt trading higher. For instance, Cosmos surged beyond its short-term Simple Moving Average but could not accumulate substantial volumes.

Polygon (MATIC)

Polygon withdrew with a 34.7% drop after touching its all-time high on December 27 at $2.92, poking a monthly low during January 8 sessions. The decline tested 38.2% FIB support many times, but the area could not provide significant liquidity.

MATIC price noted ROI of 25.2% within the past five days after the token bounced back from the eleven-week Point of Control. That way, the coin reclaimed the lost 61.8% and 78.6% support zones.

While publishing this content, MATIC exchanged hands around $2.38. The Relative Strength Index experienced a 32-point climb within the past 72 hours, following a bullish divergence. That way, the indicator crossed the half-line, exhibiting bullish favoritism.

Moreover, the Awesome Oscillator climbed beyond the half-line following a bullish twin high under the equilibrium. Nevertheless, the Volume Oscillator flashed lower highs, suggesting weak bullish actions.

Cosmos (ATOM)

ATOM saw a more than 35% increase from January 1, poking a 15-week peak on January 7. The upswing helped the token reclaim the long-term 23.6% FIB support neat $36.

Meanwhile, the past four days saw bulls recording a sustained breakout after Cosmos retested the support at $32.5 for more than seven weeks. Meanwhile, the rally had the coin forming a descending wedge within the last month.

For now, the 20 Simple Moving Average and the 50 Simple Moving Average noted a bullish cross, highlighting surged buying momentum. While publishing this blog post, ATOM had its price hovering at $40.07.

The Relative Strength Index marked higher highs consistently and swayed beyond the midline. Moreover, the DMI depicted a bullish bias while ADA flashed a weak directional attitude.

Meanwhile, most assets require substantial volumes to support the upward journey. The overall market sentiment remains vital for the asset’s coming price bias.