The market leader BTC has sparked a rally above $54K, Ethereum too is pacing above $3500. XRP too is set to accelerate as it hits $1.08. However, ADA continues to face heavy resistance in the $2.3 range.
Amidst such market activity, Popular analyst and trader Scott Melker predicts new rallies for Polygon and two other cryptocurrencies namely Serum and Kava. While he also believes Tezos is ready to take off.
Melker tells his Twitter followers that Ethereum scaling solution Polygon (MATIC) is about to rise after breaking over the diagonal resistance that has held the altcoin in a downturn for the past month.
Melker’s first aim offers a nearly 40% upside potential from MATIC’s current price of $1.28.
At the time of writing, MATIC is trading at $1.29 down by 2.4% in the last 24 hours.
Serum, a decentralised derivatives exchange, is another coin on the traders’ list (SRM). SRM, according to Melker, is following in the footsteps of MATIC and appears to be on track for gains of more than 50%.
“SRM target ~$13.”
At the time of writing, SRM is trading at $8.18 down by 3.5% in the last 24 hours.
Next up is Kava.io (KAVA), a decentralised cross-chain money market that Melker claims has reversed its market collapse and is poised for a 46 percent increase from its current price of $6.28.
At the time of writing, KAVA is trading at $6.38 up by just 0.2% in the last 24 hours
Tezos (XTZ), a smart contract platform, is one resistance away from printing a new all-time high and entering uncharted territory, according to the crypto expert.
He says, already a 3X from the first entry, and a 2X from the second (black circles). Flirting with price discovery is only the tip of the iceberg right now. The sky is the limit if you get close to $8.4 he adds.
At the time of writing, Tezos is trading at 7.74 down by 5.4% in the last 24 hours.