ETC will increase by 14 % and reach a 6-week high-market updates on Saturday

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Ethereum Classic was one of the greatest promoters at the beginning of the weekend when prices rose to a six-week high. With this movement, the token rose by up to 12 % and broke an important level of resistance. Polygon also moved higher, as it put on a recent price limit.

Ethereum Classic ( etc )

Ethereum classic ( etc ) on Saturday rose to a six-week-high.

after a low of $ 17.94 on Friday etc /USD in today's session at a maximum of $ 20.68.

Due to today's move etc broke out of an important resistance level of $ 20.00 and reached its highest point since November 26th.

biggest changes: ETC increases by 14 % and reaches a 6-week high
etc /usd - daily

If you look at the diagram, today's climb came when the sliding 10-day average (red) crossed its 25-day counterpart (blue).

The youngest rallies have also brought the 14-day relative strength index (RSI) close to the overbought area, whereby the indicator has reached its highest level since last August.

Earlier profits have already started to fade, with former householders probably taking profits with them at this level.

Vigoreck (Matic)

Polygon (Matic) was another remarkable winner at the beginning of the weekend, whereby the token was climbing the second day in a row.

MATIC/USD raced to a high of $ 0.8105, which is more than 3 % above Friday at $ 0.774.

Today's profit has brought Polygon closer to an important level of resistance of $ 0.8200, which was last achieved on December 27th.

MATIC/USD-TACHTART

As can be seen from the chart, today's increase has also led to a collision with a upper limit of the RSI, the index achieved its resistance of 49.00

For this reason, earlier profits have decreased somewhat, and at the moment Matic/USD acts at the point of $ 0.8039

So that Matic can extend the latest profits to a third session, the price strength must first overcome the upper limit of 49.00 with the RSI.

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could polygon recover beyond this level of resistance in the coming days? Share your thoughts in the comments.

Eliman Damell

Eliman brings an eclectic view of the market analysis, he was previously a broker director and trainer in retail. He currently acts as a commentator for various investment classes, including crypto, stocks and foreign exchange.


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