A closely followed crypto analyst is expecting two altcoins to bounce back into blazing bull runs quicker than everything else in the digital asset market.
In a series of tweets, crypto trader Josh Rager says he’s keeping a close watch on layer 2 scaling solution Polygon (MATIC) and decentralized oracle network Chainlink (LINK). According to the crypto analyst, the two coins are showing noticeably more resilience during the ongoing crypto market correction.
“Two altcoins that I want to have exposure to in this current market are MATIC and LINK
Both show continued strength and the ability to quickly bounce back after pullbacks”
Rager also notes that Shark Tank star and billionaire made a recent investment in Polygon.
“Mark Cuban probably bought MATIC at that $0.80 dip.”
Cuban’s website confirms the business tycoon’s investment in the multi-scaling solution built for the Ethereum network.
MATIC put in an all-time high of $2.68 on May 18th, dropped to $0.74 on May 23rd, and then nearly formed a V-shaped recovery all the way to $2.45.
At time of writing, MATIC is trading at $1.83.
As for Bitcoin, the analyst says he’s waiting for more clarity on the price trajectory of the world’s leading crypto asset as it forms a narrow trading range between the daily resistance and the weekly support.
“Ranging here, between daily and weekly support/resistance.
Watching for a potential breakdown or a bounce in this area.
Really slow price movement so not overly concerned yet as this is still a higher-low on the trend.”
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Featured Image: Shutterstock/Tithi Luadthong