2021-07-23 02:00:00

Polygon, Ethereum Classic & Stellar — Asian Wrap 23 July

MATIC price takes center-stage, readies Polygon for an impressive 85% rally

MATIC price closed yesterday with the best gain since the 63% gain recorded on May 24, marking a trend reversal for the Indian blockchain. Moving forward, Polygon confronts three tactical resistance levels that may impede a quick follow-through on the dynamic rebound. In fact, buying on weakness may provide the best approach to participating in a new advance.

 

Ethereum Classic Price Forecast: ETC not compelling below the 2018 high

Ethereum Classic price participated in the broad cryptocurrency rally yesterday, logging the best day since the 30.87% gain on June 29. However, the gain was not supported by a burst in buying pressure, suggesting the 9% day was due to the absence of selling pressure. With commitment unremarkable, ETC stranded in a tight range and below the 2018 high, the outlook for the digital asset is neutral.

 

XLM price sprints higher, as rumors of Stellar acquiring Moneygram surface

XLM price has finally shaken off the technical restraints of the descending parallel channel that has directed Stellar since the June 29 high. The developing breakout has carried the cryptocurrency close to the strategically important 50-week simple moving average, creating a new challenge for a sustainable rally. In partnership with the private equity firm Advent International, Stellar Development Foundation has contacted Moneygram about a potential purchase of the remittance company. 

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