Ethereum, Ripple, and This Altcoin Might Make a Leap! Here are the Expected Levels


The cryptocurrency market has been performing sideways for a while. While Bitcoin, the leading cryptocurrency, regressed to the level of $ 38,000, there are also sharp decreases in altcoins. So, what is the latest situation and price expectations in Ethereum, Polygon and Ripple?

Let’s take a look at the price expectations of ETH, MATIC and XRP together.

MATIC Price May Explode as Network Activity Increases

The MATIC price remains 50% lower than its all-time high, but the unlocked aggregate value of the Ethereum scaling solution has increased consistently. Analysts claim that MATIC competes with scaling solutions and layer-2 networks.

The fastest growing dApps on the Polygon network this week have a total of 326,000 by active addresses, while experts believe decentralized applications on the Polygon network contribute to the evolution of the Web3 ecosystem.

The MATIC network, on the other hand, has witnessed an increase in transaction volume from dApps without the high transaction fees and network congestion hassles on the Ethereum network.

The development team behind the MATIC token recently fixed the disruption in the operations of the blockchain network. The fix prevented network congestion on the blockchain of the MATIC network.

Analysts evaluated the MATIC price trend and predicted a 36% increase in the Ethereum scaling solution’s token. However, analysts pointed out that the MATIC price trend always forms an ascending or ascending wedge before the falling wedge pattern.

Therefore, the altcoin is poised for a breakout and analysts argue that MATIC has gathered liquidity and is poised for a high return. MATIC price could surpass the $2.69 levels in the current uptrend before turning bearish.

So much so that analysts state that Polygon (MATIC) is ready for a big rise in this ongoing cycle.

Ethereum (ETH)

The second largest cryptocurrency has been stuck in a symmetrical triangle for nearly two months. Ethereum (ETH) price is steadily approaching the support trendline of this pattern. So, can buyers get rid of this dynamic support, or can sellers make their breakthrough this time?

The previous bull cycle from the $2490 support failed to overcome the immediate $2800 resistance. Pressed by stiff resistance, the price of the popular altcoin has plummeted and has lost 6.5% in the past three days.

The gradual sell-off is moving towards the support trendline of the continuation pattern. If the price can bounce back from rising support, traders can expect the range cap to continue for a few more days.

However, if the bears manage to push the altcoin below the dynamic support, the renewed sell-off could push Ethereum price back to the $2300 bottom support.

Also, the area between the converging trendline is a no-trade zone and traders should wait for the price to surpass either one to signal a strong directional move.

Ethereum price continues to trade at $2,555, with a 1.28% decline in the last 24 hours, according to CoinMarketCap data, as of the writing of the content.

Ripple (XRP) Will See These Levels Before The Big Leap

Since December last year, the Ripple (XRP) price has been under the siege of the Death Cross model. Looking at the current situation, this Death Cross seemed like an omen of the future with global markets on the edge of stagflation and possible hyperinflation in parts of Europe.

The safety net, called central banking, is struggling to hold the economic system together as inflation demands a hike, but the Ukraine war and the influx of refugees into European countries demand monetary easing and credit support.