A popular crypto analyst is making a prediction for one Ethereum (ETH) rival while updating his outlook on Polygon (MATIC) and Bitcoin (BTC).
“Potential range overall here for SOL, trading between $60 and $20 over the next several months is the idea.”
Looking at Ethereum scaling solution MATIC, Altcoin Sherpa says that it is likely about to be rejected from resistance. According to the trader, Polygon bears may have an opportunity to capitalize near the $0.62 range.
“I’m guessing this hits a resistance area soon; many charts are like this. Shorting the top of the move should be at least good for a scalp given the time spent in between each area.”
As for Bitcoin, the analyst says a break of the $21,600 level could trigger BTC to the next target for bulls at around $23,000. For now, Altcoin Sherpa views the year’s lows around $18,000 as the main support level for BTC.
“That was quick. Flip this and we go to $23,000. I’m expecting a pullback around here, though.”
At time of writing, Bitcoin is trading just above $21,600, up 5% on the day.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Macrovector/Sol Invictus