Saturday saw two of the most prominent altcoins make big strides in the market, with Ethereum classic and Polygon shooting upward in price. Ethereum classic surged to a 6-week high, rising as much as 14%, while Polygon hit a new record high.
Classic Ethereum (ETC)
Classic Ethereum (ETC) saw a huge surge on Saturday, reaching a 6-week peak. Prices rose up to 14%, surpassing a key resistance level of $20.00 and achieving its highest price ever of $20.68. This was after briefly dropping to its lowest price of $17.94 the day before.
Analyzing the chart, the 10-day moving median (red) crossed its 25 day counterpart (blue) which caused the swift increase. This in turn pushed the 14 day RSI to its highest level since August last year.
Unfortunately, the gains have already started to dip, so previous bulls are likely to take profits at this stage.
Polygon (MATIC)
Polygon (MATIC) also made a splash in the market, climbing for the second day consecutively. MATIC/USD reached a new all-time high of $0.8105, more than 33% higher than the previous record of $0.774 the day before.
This gain has brought the token closer to the $0.8200 key resistance level, which was last hit in December.
