Cryptocurrencies have experienced a notable increase over the past few days. Despite minor pullbacks, most altcoins still maintain their bullish momentum. Analysts expect strong moves in various altcoins in the coming days, including Ethereum, Polygon and Ethereum Classic.
These 3 altcoins continue their strong price movements
Ethereum (ETH)
Ethereum price is consolidating in the $1,700 region, with a few pullbacks and rebounds. Meanwhile, the flag zone is forming after the bull flag formation pillar is formed on the ETH chart. At this point, technical analyst Sahana Vibhute sees a sharp upward move that broke the resistance levels of the parallel channel above $1,843.
On the other hand, the activity on the network is increasing as the number of active addresses per day has recently made ATH. In a recent update, ETH’s address activity reached 1 million for the first time as the price rose to almost $1,770. All in all, it points to an ongoing strong uptrend.
Polygon (MATIC)
MATIC price is busy regaining $1 again. It will take a long time to surpass this level today. MATIC had previously only failed the $1 test. So if a rebound is sparked, it’s likely to rise.
MATIC price is trading in an ascending parallel channel just like Ethereum. But unlike ETH, MATIC price has seen a series of rejections from the upper resistance. As a result, the bears are a little more dominant on the MATIC chart. Therefore, the price is gaining momentum into the middle bands. However, a significant recovery is predetermined that will allow the rally to quickly surpass $1.
Ethereum Classic (ETC)
With the upcoming Ethereum merge, ETH miners are migrating to ETC or BTC. Thus, the hash rate of the network increased, resulting in a significant increase in the price of ETC. The ETC price has gained more than 200% in the last two weeks due to the increase in network traffic. As we covered on Kriptokoin.com, Ethereum founder Vitalik Buterin said he supports ETC as a PoW Blockchain.
ETC price is falling within a parabolic curve to indicate upcoming monthly lows near $12. However, it quickly gathered bullish momentum and hit highs near $45. However, ETC price faced a series of rejections before reaching $50. This caused the altcoin price to drop below $40.
However, the price is expected to consolidate below $40 for a while as there has been more selling than buying since the previous trading day. Also, sustained bearish pressure could eventually push the price above $50.
11309
