A closely-followed crypto analyst expects two altcoins to revert to bull runs faster than anything else in the digital asset market.
In a series of tweets, crypto trader Josh Rager is closely monitoring the Layer 2 scaling solution Polygon (MATIC) and the decentralized oracle network Chainlink (LINK). According to the cryptanalyst, the two coins show significantly higher resilience during the ongoing crypto market correction.
“Two altcoins that I would like to encounter in this current market are MATIC and LINK
Both show persistent strength and the ability to get back on their feet quickly after withdrawing. ”
Rager also notes that Shark Tank Star and Billionaire recently invested in Polygon.
“Mark Cuban likely bought MATIC at that $ 0.80 price.”
Cuban’s website confirms the Business Tycoon’s investment in the multi-scaling solution developed for the Ethereum network.
MATIC hit an all-time high of $ 2.68 on May 18, fell to $ 0.74 on May 23, and then formed an almost V-shaped rebound to $ 2.45.
At the time of writing, MATIC is trading at $ 1.83.
As for Bitcoin, the analyst says he is waiting for more clarity on the price history of the world’s leading crypto asset as it creates a tight trading range between daily resistance and weekly support.
“Here between daily and weekly support / resistance.
Look out for a possible breakdown or recovery in this area.
Really slow price movement so don’t overly concerned as this is still a higher low on trend. “
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Featured image: Shutterstock / Tithi Luadthong