A crypto analyst with a large following says an altcoin project is poised to surpass Bitcoin. Accordingly, the analyst expects the altcoin to rise to an all-time high against BTC. Also, the analyst explains another altcoin that he expects to perform well.
“Altcoin to surpass Bitcoin: Polygon (MATIC)”
The cryptocurrency market is having a sluggish weekend. The majority of Bitcoin and altcoin projects are running on horizontal ground. In this environment, crypto analyst nicknamed Crypto Kaleo argues that Polygon (MATIC), one of the most talked about altcoin projects of recent times, is on its way to reaching an all-time high against the leading crypto Bitcoin (BTC). Polygon is a layer-2 blockchain that provides a scaling solution for the Ethereum Blockchain.
The analyst says Polygon is bullish against Bitcoin (MATIC/BTC) after retesting an important cross-resistance as support. In this context, the analyst makes the following statement:
MATIC/BTC is still slowly rising in this range. From afar, the plan remains the same. Accordingly, the new all-time high is very close.
Source: CryptoKaleo / TwitterThe Kaleo chart predicts a sharp rally for MATIC/BTC on its way to an all-time high around 0.00007 BTC ($1.20). At press time, MATIC/BTC is trading at 0.00005274 ($0.90). Also, this shows that there is a potential upside of over 32% for the pair, according to the analyst’s forecast.
“$18,000 in Bitcoin attracts like a magnet!”
The analyst then shifts his focus to the leading crypto Bitcoin. A slight pullback below $17,000 awaits for BTC in the coming days. However, he predicts that after that, Bitcoin will rise above $18,000. Kaleo expresses these predictions as follows:
They said it would go to zero. However, we have come back to high levels. $18,000 attracts like a magnet.
Source: CryptoKaleo / TwitterAt press time, Bitcoin changed hands very little on a daily basis, at $17,183.
“Litecoin’s struggle is not over yet”
Kaleo also analyzes the peer-to-peer payment network Litecoin (LTC). The analyst says that this altcoin project’s fight against Bitcoin (LTC/BTC) is not over yet. From this point of view, the analyst makes the following assessment:
The LTC/BTC ratio finished retesting recent highs this weekend. I still expect Litecoin to continue to outpace the market in the near future.
Source: CryptoKaleo / TwitterAccording to the analyst chart, he expects LTC/BTC to rise towards its target of around 0.0058 BTC ($99.40). LTC/BTC was trading at 0.00444 BTC ($76.09) at the time of writing. This indicates a possible 30% gain for the pair if the analyst hits his target.
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