The crypto space is all set for the upcoming Ethereum transition from PoW to PoS and in the due course, the prices of some altcoins are expected to take a large shift. No doubt, ETH price is expected to skyrocket with the merge, but along with ETH, another two altcoins appear more promising.
Altcoins like Ethereum Classic (ETC) & Polygon (MATIC) are expected to kick start their upward trajectory just before the event.
Ethereum price after the recent announcement of the raised interest rates had gained huge bullish momentum as it surged beyond $1750. However, the bears quickly jumped in and slashed the price by more than 12%, compelling it to hover just below $1700. Regardless of the current market sentiments, the ETH price in the mid-term appears pretty bullish and hence is expected to rise high and break the immediate upper resistance.
As seen in the chart, the ETH price is raising within an ascending parallel channel and very recently faced a rejection. Therefore, the ETH price may certainly not hit the lower support below $1500 but may make a strong rebound even if it slashes below $1600. Also, the RSI is also on a rise and hence the price may continue to coil up and achieve the required target at the earliest.
Ethereum Classic (ETC)
Ethereum Classic is receiving huge attention in recent time as the transition is approaching fast. On the other hand, the trend maintains within the parabolic curve, following which the price is expected to reach the crucial resistance at $50. However, the bears are utilizing all their resources to restrict the price lower but eventually may not succeed.
The ETC price broke out from the lower support and formed a notable bull flag. Further, the asset broke out from the flag and currently consolidating, forming another bull flag. Therefore, appears to be primed for another 55% upswing to mark the levels above $55 very soon.
Polygon price is swinging within a pre-determined parallel channel and preparing to bounce off from the lower support. The asset has formed a bearish pattern and is hence expected to undergo a drain and hit $0.75. But the bulls appear to be strong and pulled the price from the bearish divergence.
The MATIC price is swinging within an ascending parallel and after facing rejection from the middle bands, the price quickly rebounded. Currently, the price is firmly heading towards the upper resistance and may eventually achieve, it if the bulls jump in.
However, the upcoming merger is expected to induce a significant bullish momentum and hence Ethereum (ETH), Ethereum Classic (ETC) & Polygon (MATIC) prices may surge significantly high, testing their respective resistance very soon.