Trader Says One Large-Cap Altcoin Appears Ready To Outperform Bitcoin, Forecasts New All-Time High Against BTC
A widely followed crypto analyst says the top-ten altcoin Polygon (MATIC) appears on track to hit an all-time high against Bitcoin (BTC).
Pseudonymous digital asset trader Crypto Kaleo tells his 551,200 Twitter followers that blockchain scaling solution Polygon looks bullish against Bitcoin (MATIC/BTC) after retesting a key diagonal resistance as support.
“MATIC/BTC has still been slowly grinding higher in this range. Zooming out, the plan remains the same. New all-time high imminent.”
Based on the trader’s chart, he appears to be predicting a sharp rally for MATIC/BTC en route to a fresh all-time high around 0.00007 BTC ($1.20). At time of writing, MATIC/BTC is changing hands for 0.00005274 ($0.90), suggesting an upside potential of over 32% for the pair.
Kaleo next shifts his focus to Bitcoin, predicting that BTC will rally above $18,000 after a slight pullback below $17,000 in the coming days.
“They said it was going to zero but we’re back at the range highs. $18,000 is a magnet.”
At time of writing, Bitcoin is trading hands at $17,149, a fractional dip on the day.
Kaleo also analyzes peer-to-peer payments network Litecoin (LTC), saying its run against Bitcoin (LTC/BTC) is not yet over.
“LTC/BTC ratio finished retesting the recent highs this weekend. Still expecting Litecoin to continue to outpace the market in the near future.”
According to Kaleo’s chart, he expects LTC/BTC to climb toward his target of around 0.0058 BTC ($99.40). At time of writing, LTC/BTC is swapping hands for 0.00444 BTC ($76.09), suggesting a possible 30% swing to the upside for the pair should it hit Kaleo’s target.
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Featured Image: Shutterstock/issaro prakalung