Top Analyst Says Polygon Has Plenty of Fuel in the Tank, Updates Outlook on Bitcoin, Ethereum and Solana
A broadly adopted strategist is saying that he’s bullish on the Ethereum (ETH) scaling answer Polygon (MATIC) whereas providing his outlook on three different crypto belongings.
The crypto strategist pseudonymously often called Bluntz tells his 229,400 followers on the social media platform X that Polygon has extra upside potential.
Bluntz says that Polygon witnessed an “immaculate vertical accumulation” over the weekend – or a sequence of greater highs and greater lows which usually signifies a bullish development.
The analyst shares a chart that reveals MATIC surging to his goal of $1.
“Plenty of juice in the tank in my opinion, would be targeting at least new highs.”
Polygon is buying and selling at $0.777 at time of writing, up over 4% in the previous day.
Turning to Bitcoin (BTC), the pseudonymous strategist says that he expects the flagship crypto asset to rally after finishing the final leg down of a triangle sample.
“Noticed so much of BTC doom and gloom posts however the reality is, it’s nonetheless ranging and contracting in three-wave strikes.
My bias is that this breaks up and right this moment’s flush was the ultimate E wave of a triangle.”
Bitcoin is buying and selling at $37,310 at time of writing, up over 2% in the final 24 hours.
Subsequent up is Ethereum. Bluntz says that the second-largest crypto asset by market cap might witness a powerful burst to the upside if it manages to take out a key resistance stage that has held for over a yr.
“I don’t know exactly when this $2,180 ETH resistance gives way but when it does, it will be 525 days of pent-up frustration ready to blow.”
Ethereum is buying and selling at $2,062 at time of writing.
As for Solana (SOL), the pseudonymous strategist says that the sixth-largest crypto asset by market cap is primed to print a brand new 2023 excessive after finishing an ABC correction and respecting help at round $51 regardless of flashing a possible breakdown from a head and shoulders reversal sample.
“I think head and shoulder bros are about to get baited big time on SOL.”
Solana is buying and selling at $57.96 at time of writing, nicely above the backside of the latest corrective transfer.
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