{"id":16223,"date":"2023-01-07T22:48:41","date_gmt":"2023-01-07T22:48:41","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/etc-surges-14-to-hit-6-week-high-on-saturday-market-updates-bitcoin-news\/"},"modified":"2023-01-07T22:48:41","modified_gmt":"2023-01-07T22:48:41","slug":"etc-surges-14-to-hit-6-week-high-on-saturday-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/etc-surges-14-to-hit-6-week-high-on-saturday-market-updates-bitcoin-news\/","title":{"rendered":"ETC Surges 14% to Hit 6-Week High on Saturday \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Ethereum classic was one of the biggest movers to start the weekend, as prices surged to a six-week high. The move saw the token climb by as much as 12%, breaking out of a key resistance level in the process. Polygon also moved higher, as it raced towards a recent price ceiling. <\/strong><\/p>\n

Ethereum Classic (ETC<\/a>)<\/h2>\n

Ethereum classic (ETC<\/a>) rose to a six-week high on Saturday, as prices rallied by as much as 14%.<\/p>\n

Following a low of $17.94 on Friday, ETC<\/a>\/USD raced to a peak of $20.68 earlier in today\u2019s session.<\/p>\n

As a result of today\u2019s move, ETC<\/a> broke out of a key resistance level of $20.00, hitting its highest point since November 26 in the process.<\/p>\n

\"Biggest
ETC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, today\u2019s surge came as the 10-day (red) moving average crossed over its 25-day (blue) counterpart.<\/p>\n

Recent rallies have also pushed the 14-day relative strength index (RSI) close to overbought territory, with the indicator tracking at its highest point since last August.<\/p>\n

Earlier gains have already begun to fade, with previous bulls likely moving to take profit at the level.<\/p>\n

Polygon (MATIC)<\/h2>\n

Polygon (MATIC) was another notable gainer to start the weekend, with the token climbing for a second straight day.<\/p>\n

MATIC\/USD raced to a high of $0.8105, which is over 3% higher than Friday\u2019s low at the $0.774 mark.<\/p>\n

Today\u2019s gain has pushed polygon closer to a key resistance level of $0.8200, which was last hit on December 27.<\/p>\n

\"Biggest
MATIC\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As can be seen from the chart, today\u2019s surge has also led to a collision with a ceiling on the RSI, with the index hitting its resistance of 49.00<\/p>\n

Due to this, earlier gains have somewhat eased, and as of writing, MATIC\/USD is trading at the $0.8039 point.<\/p>\n

In order for MATIC to extend recent gains to a third session, price strength will first need to overcome the 49.00 ceiling on the RSI.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Could polygon rally beyond this resistance level in the coming days? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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