While the price of ETH might break above the USD 1,843 level, a bounce might drive MATIC to USD 1. After consolidating below USD 40, the bearish pressure could push ETC above USD 50 in the short term.
The prices of Bitcoin (BTC) and leading altcoins have recovered significantly over the last few days. Although the pioneering cryptocurrency has suffered losses, it tends to regain bullish momentum.
Despite the current bearish cartel, crypto assets seem ready to maintain the upward trend. Altcoins like Ether (ETH), Polygon (MATIC), and Ethereum Classic (ETC) might prosper in the coming week.
The Price of Ether Might Rise Significantly
The price of ETH has recently consolidated around upper resistance levels, including two pullbacks and a recovery. It seems to have formed a flag following the pole of a bullish flag pattern. Therefore, a significant rally above USD 1,843 might break through the resistance levels of the parallel channel.
Since the daily active address recently peaked, the activity of the network on the platform has increased. ETH exceeded the 1-million-address trade for the first time as its price nearly reached USD 1,770, signaling a significant upward trend.
Ether is trading at around USD 1,693 and has accumulated a 9.1% gain over the last week. Its daily trading volume is above USD 12.97 billion, while its market capitalization is about USD 203.01 billion, according to CoinGecko.
The Price of Polygon Might Break above USD 1
The price of MATIC is moving toward USD 1 and might break above these levels in the coming days. Since the crypto asset has dropped a little below USD 1 a couple of times, a bounce might drive it higher.
Polygon, like Ether, is trading within an ascending parallel channel. However, the value of MATIC faced rejection well below upper resistance. Therefore, the bears seem more dominant, which might take the price toward the middle bands.
Polygon is trading at around USD 0,947 and has accumulated a 7.7% gain over the last week. While its daily trading volume is above USD 998.75 million, its market capitalization is about USD 7.56 billion, according to CoinGecko.
The Price of Ethereum Classic Might Rise above USD 50
ETC has gained considerable momentum with the ETH 2.0 merger, as ETH miners would move to Ethereum Classic or Bitcoin. The price of ETC has risen by more than 200% over the last two weeks amid increased activity on the network.
The price of ETC is dropping inside a parabolic curve to reach monthly lows near USD 12. However, it has gained considerable bullish momentum and reached highs of nearly USD 45. Before rising to USD 50, a rejection pushed the price of the altcoin below USD 40.
Since the selling volume has exceeded buying, the price should consolidate below USD 40 for some time. Besides, the extended bearish pressure could drive the price above USD 50 in the short term.
Ethereum Classic is trading at around USD 39.84 and has accumulated a 55.2% gain over the last week. Its daily trading volume is above USD 2.20 billion, while its market capitalization is about USD 5.41 billion, according to CoinGecko.
By Alexander Salazar
