Trader Predicts What’s Next for a Leading Ethereum Rival Solana, Updates Stance on Polygon and Bitcoin
A popular crypto analyst is making a prediction for one Ethereum (ETH) rival while updating his outlook on Polygon (MATIC) and Bitcoin (BTC).
Pseudonymous crypto trader Altcoin Sherpa tells his 180,000 Twitter followers he sees ETH challenger Solana (SOL) trading between a low of $20, and 200% higher at $60 for several months.
“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.
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The post Trader Predicts What’s Next for a Leading Ethereum Rival Solana, Updates Stance on Polygon and Bitcoin appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
