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Trader Says One Large-Cap Altcoin Appears Ready To Outperform Bitcoin, Forecasts New

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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.”

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Source: CryptoKaleo/Twitter

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.”

Image
Source: CryptoKaleo/Twitter

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.”

Image
Source: CryptoKaleo/Twitter

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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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/issaro prakalung





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