Ethereum classic rose by as much as 12% in today’s session, as cryptocurrency markets rallied to start the weekend. The global market cap is trading over 3% higher at the time of writing, as investors continue to buy crypto following the recent banking crisis. Solana was also higher in today’s session.

Ethereum Classic (ETC)

Ethereum classic (ETC) rose by as much as 12% in today’s session, as traders continued to pump cryptocurrencies.

Following a low of $19.14 on Friday, ETC/USD moved to a high of $22.46 to start the weekend.

The move came as ethereum classic rose back above a recent floor at $20.00, hitting its strongest point since February 22 in the process.

etcusd 2023 03 18 12 25 49 7ab0c
ETC/USD – Daily Chart

Looking at the chart, the rally also coincided with the 14-day relative strength index (RSI) breaking out of a ceiling at the 58.00 mark.

As of writing, the index is tracking at 60.22, which is its highest reading since February 2.

The next visible point of resistance appears to be a ceiling at 65.00, which could lead to ETC moving closer to the $25.00 mark.

Solana (SOL)

In addition to ETC, solana (SOL) was also in the green to start the weeknd, with prices trading by as much as 9% higher.

SOL/USD rose to a peak of $22.54 earlier in today’s session, after falling to a floor at $19.94 the day prior.

As a result of Saturday’s surge solana has now moved to its strongest point since late-February.

solusd 2023 03 18 12 25 46 9da0a
SOL/USD – Daily Chart

Like with ETC, a catalyst for the move was a breakout which took place on the RSI indicator.

As of writing, the index is now tracking at 55.71, which is above the aforementioned ceiling at 50.00

In the short-term bulls may attempt to send the token to $23.00, which is the next key price point for SOL.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you believe that solana will hit $23.00 this weekend? Let us know your thoughts in the comments.

headshot
Eliman Dambell

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.