Altcoins Polygon(MATIC), Ethereum (ETH) & Ethereum Classic(ETC) Price May Explode in Coming Week!
Bitcoin and major altcoins have seen significant gains over the past few days. Despite the current pullback, the asset is maintaining a decent momentum and showing a tendency to gain bullish momentum. The bearish cartel is trying hard to restrict the rally, but the asset looks set for an upward move.
Altcoins like Ethereum (ETH), Polygon (MATIC) and Ethereum Classic (ETC) are expected to flourish in the coming days.
Ethereum (ETH) Price
Ethereum price has consolidated strongly along upper resistance levels over the past few hours, including some pullbacks and recovery. It appears that the flag has formed after price has formed the pole of the Bullish Flag pattern. Therefore, a strong rise above $1843 looks imminent, cutting the resistance levels of the parallel channel.
On the other hand, network activity on the platform is picking up as the daily active address recently reached its all-time high. In a recent update, ETH broke the 1 million in address activity for the first time in its history as the price of ETH surged closer to $1770. Hence a resurgence of a strong bullish trend is indicated.
Polygon (MATIC) value
MATIC price is moving strongly towards $1 and is expected to cross these levels in the coming weekend. The asset has previously faced rejections below $1 twice and hence is believed to fly higher once ignited a rally.
Similar to Ethereum, Polygon (MATIC) price is trading within an ascending parallel channel. But unlike ETH, MATIC price faced rejection well below upper resistance. Hence, the bears seem to dominate a bit here and hence the price is also expected to move towards the middle band.
However, a notable rally is set to follow which could enable the rally to surge above $1 soon.
Ethereum Classic (ETC) Price
With the ETH 2.0 merger on the cards, the price of ETC increased drastically as ETH miners reportedly moved to ETC or BTC, hence increasing the network’s hash rate. ETC price surged over 200% over the past fortnight amid a surge in network activity.
A few days ago, ETC price is turning inside a parabolic curve to mark a monthly bottom near $12. However, the asset gained a lot of momentum and traded higher near $45. However, before moving to $50, the asset faced a rejection that drove the price below $40.
On the other hand, since the last trading day the selling volume has exceeded the buy and hence the price is expected to consolidate below $40 for some time. Moreover, an extended bearish pressure could soon propel the price above $50.
