Bitcoin and major altcoins witnessed a notable upswing in the past couple of days. Despite the current pullback, the asset maintains a decent strength and displays a tendency to regain bullish momentum. The bearish cartel is attempting very hard to restrict the rally but the assets appear to be poised to keep up the upward trajectory.
Altcoins like Ethereum (ETH), Polygon (MATIC) and Ethereum Classic(ETC) are expected to thrive in the coming days.
Ethereum (ETH) Price
Ethereum price in the past couple of hours is strongly consolidating along the upper resistance levels including a couple of pullbacks and recovery. The price appears to have formed the flag after forming the pole of the bullish flag pattern. And hence a strong upswing beyond $1843 seems imminent, slicing through the resistance levels of the parallel channel.
On the other hand, the network activity over the platform is getting intensified as the daily active address had peaked at its highs recently. In a recent update, ETH broke 1 million in address activity for the first time in its history as the ETH price surged close to $1770. Hence indicating the resurgence of a strong bullish trend.
MATIC price is heading strongly towards $1 and is expected to surpass these levels in the coming weekend. The asset faced a rejection just below $1 a couple of times before and hence is believed to fly high once ignited a rebound.
Similar to Ethereum, Polygon(MATIC) price is trading within an ascending parallel channel. But unlike ETH, the MATIC price faced a rejection much below the upper resistance. Therefore, the bear appears to be a little more dominating here and hence the price is also expected to drain towards the middle bands.
However, a notable rebound is pre-determined to follow that may enable the rally to rise beyond $1 very soon.
Ethereum Classic(ETC) Price
With the ETH 2.0 Merger on the cards, ETC price gained a huge push as the ETH miners reportedly shifted to ETC or BTC, hence rising the hash rate of the network. Amid the rise in the network activity, ETC prices surged more than 200% in the past fortnight.
The ETC price is draining within a parabolic curve to mark the monthly bottoms close to $12, a couple of days before. However, the asset gained huge bullish momentum and spiked to hit highs close to $45. However, before heading to $50, the asset faced a rejection which slashed the price below $40.
On the other hand, the selling volume since the past trading day has surpassed the buying and hence the price is expected to consolidate below $40 for some time. Further, an extended bearish pressure may uplift the price beyond $50 very soon.