Ethereum (ETH), Avalanche (AVAX) and Polygon (MATIC) Price Analysis: Comments and Prospects
The cryptocurrency market has generally underperformed over the weekend. However, with the new week, the market started to recover slowly and cryptocurrencies started to increase again. Here’s the latest on Ethereum ( ETH ), Avalanche ( AVAX ) and Polygon ( MATIC );
The second largest cryptocurrency by market ranking, Ethereum (ETH), fell below $ 4,000 with the decline experienced at the end of the week. The price dropped as low as $3,960 on Sunday as the decline picked up further momentum.
However, with the new week, prices started to move again and started to increase upwards. So much so that the popular cryptocurrency Ethereum (ETH) managed to increase up to the level of $ 4,150 during the day.
Ethereum is currently testing the critical support level around $4,000. If the cryptocurrency fails to hold at this level, ETH could drop to the next support level, located around $3,500.
Popular crypto currency ‘m Etherea , coinmarketcap according to data as of the moment of writing the content has scored an 0.58% increase in the last 24 hours and continues to be traded 4,150 dollars.
Popular cryptocurrency Avalanche ( AVAX ) has seen a nice increase during the week. However, similar to Ethereum, it suffered a dip over the weekend. While AVAX was trading at $ 68 during the week, there was a pullback to the $ 62 band with the decline experienced over the weekend.
However, Avalanche ( AVAX ) had a good start to the week and the price started to rise again. The popular altcoin managed to rise as high as $ 66.63 during the day.
According to analysts, the bulls will make an attempt to continue the upside move by pushing the price above $69.18. If successful, the pair could rally to $73.41 and then retest its all-time high at $79.80.
Avalanche ( AVAX ), the 14th largest cryptocurrency in terms of market value, continues to trade at $66, with an increase of 0.67% in the last 24 hours, according to CoinMarketCap data as of the time of writing.
Lastly, looking at Polygon ( MATIC ), the popular cryptocurrency started a rapid rise to the upside last Saturday, pushing the price from $1.5 to as high as $1.7.
However, MATIC could not sustain its increase for long and the price started to decline again on Sunday. While the popular cryptocurrency fell back to the $1.52 level on Sunday, the price started to move upwards with the new week.
Polygon ( MATIC ), the 21st largest cryptocurrency in terms of market value , has gained 2.7% in the last 24 hours according to CoinMarketCap data as of the time of writing, while continuing to trade at $1.63.