The expert predicts a massive rally for this altcoin and Ethereum to outperform Bitcoin.
This altcoin is ready to explode
Michaël van de Poppe told his 647,000 Twitter followers that the Ethereum scaling solution Polygon (MATIC) will likely offer a 60% opportunity if it provides the right input at around $1. He then said in a statement:
“This looks set to break significantly upwards.
Interested in buying at around $1 to test again, and then it could easily reach $1.60.”
The analyst also locked his radar on Ethereum rival Avalanche (AVAX). According to Van de Poppe, AVAX bulls may want to wait for a drop to a demand level of around $17.50 before switching to smart contract protocol.
The next step on the trader’s radar is the decentralized exchange protocol Injective (INJ). Van de Poppe says INJ, which has risen nearly 40% in the last seven days, may not offer any playable opportunities until it corrects for $2.30 or $2.08 for longer futures.
Van de Poppe looks at Verasity (VRA), an Ethereum-based altcoin focused on serving the esports, gaming, NFT and video economies. Although the VRA looks very strong, he says the bulls should wait for a roughly 40% correction to the $0.004 range before opening a position.
The big rally can begin
According to some experts, investors can profit from altcoins. The pseudonymous analyst Pentoshi, who has 671,300 followers on Twitter, predicted the Bitcoin bull market last year. Pentoshi also predicted that blockchain scaling solutions like Polygon (MATIC) and smart contract protocol Avalanche (AVAX) are set for big increases. He believes these assets are bullish and could rally towards a key resistance level.
cryptocoin.com As we mentioned, MATIC is currently trading at $1.12 and is up 10 percent in the last seven days. AVAX is also trading at $20 and is up 13 percent over the past seven days. Pentoshi estimates that AVAX will likely see a 36 percent increase.
These altcoins have similarities
One trader, who continues to build a large following with his timely altcoin calls, says that one of Ethereum’s biggest competitors may be following ETH’s early growth stages. Trader by the nickname Cantering Clark shares a chart with his 159,000 Twitter followers that shows the uncanny similarities between Solana’s (SOL) price action and Ethereum’s price action in 2018.
The trader’s chart shows that both assets bounced off a support level multiple times, then collapsed before making a lower bottom and then a rebound. From its 2018 low, Ethereum finally rose 5,777% from its all-time high of $83 to $4,878.
With Solana falling to $8 recently, a similar move for SOL could mean a rise to roughly $462 before the next bear market. Looking at the rest of the crypto markets, Cantering Clark says that the “January effect”, which refers to crypto’s recovery trend at the beginning of the year, is most likely over. He predicts a correction in the near term, potentially triggered by weak earnings reports or other macroeconomic announcements.
