A widely followed crypto analyst is taking a look at Polygon (MATIC) while predicting upward moves from two altcoins.
Pseudonymous crypto trader Altcoin Sherpa tells his 197,400 followers on the social media platform X that THORChain (RUNE) is ready to move up.
“RUNE: Next area up is $3.”
THORChain is a decentralized liquidity protocol designed to facilitate the exchange of assets across different blockchain networks without the need for centralized intermediaries, such as traditional crypto exchanges. RUNE is worth $2.86 at time of writing, up 35% in the last week.
Turning to privacy-focused crypto Blur (BLUR), the analyst thinks BLUR could reach $0.30 despite being down 10% in the last 24 hours.
“BLUR: I think this keeps going until $0.30.Â
Still probably undervalued relative to OpenSea but don’t know if NFTs (non-fungible tokens) are really a great narrative right now.”
BLUR is worth $0.235 at time of writing, down big in the last day but still up 43% in the last month.
Finally, Altcoin Sherpa lays out his outlook on the Ethereum (ETH) layer-2 scaling solution Polygon. According to the trader, now may not be the best time to trade MATIC.
“Looks ok but the 200W EMA (200-week exponential moving average) is right at this current price and it’s kind of in no man’s land. I don’t see this as a great buy relative to other coins at this time.”
MATIC is trading for $0.629 at time of writing, down 1.7% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck 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/MiinMT/WindAwake
