The market saw some ups and downs this week, with some digital assets seeing significant gains while others remained stagnant. Uniglo is an up-and-coming cryptocurrency that has seen an uptick in recent weeks while Polygon, Solana and Ethereum Classic have all been stuck at major resistances.
Polygon (MATIC), Solana (SOL), and Ethereum Classic (ETC)
In gearing up its recovery efforts, Polygon’s MATIC most recent bull run propelled a bullish flip on the 4-hour EMA ribbons. However, the $0.87-$0.88 range induced a selling resurgence to cause a compression near the brink of the ribbons.
On the other hand, Solana’s price has bullish momentum behind it after a near 10% move upward from the lows of 2 September. At the time of writing, SOL stood at $30.5.
Both the $34 region and the $34.34 Fibonacci retracement level provided significant resistance for Solana bulls. If Bitcoin can break through the $20.2k and $20.8k resistance levels in the coming days, a bullish scenario for SOL could emerge.
Lastly, let’s take a look at Ethereum Classic.
As the date for The Merge approaches, Ethereum Classic is already seeing significant traction in the form of buying pressure. In recent times, the price of ETC has risen dramatically, providing new hope for a market that has been plagued by a bearish atmosphere at unprecedented levels. In less than two months, the price of ETC has more than doubled.
ETC rose from just above $15 in mid-July to a high of $41.60 on Tuesday. According to price tracking platform CoinMarketCap, ETC is currently trading at $33.65, down 16.33% in the last 24 hours.
Uniglo has already seen a 25% price increase in the first presale, indicating that investors are rushing to secure a large number of $GLOs as soon as possible. As the project is still in its early stages, early investors are offered bonuses and referral programs.
Uniglo is a new project based on the Ethereum blockchain that aims to be a hedge against volatility, which means that its value will not fluctuate as much as other cryptocurrencies. Uniglo is backed by digital money, valuable NFTs, digital gold, and other physical commodities that have been converted to digital form.
This suggests that, like virtual currencies, the GLO token has the potential to grow quickly, but also has the resilience to withstand the risks associated with price volatility and market swings.
Learn more here:
Join Presale: https://presale.uniglo.io/register
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