Trader Says One Large-Cap Altcoin Appears Ready To Outperform Bitcoin, Forecasts New All-Time High Against BTC


A widely followed crypto analyst says that the top ten altcoin Polygon (MATIC) looks on track for an all-time high against Bitcoin (BTC).

Digital asset trader pseudonym Crypto Kaleo He says his 551,200 Twitter followers that blockchain scaling solution Polygon appears bullish on Bitcoin (MATIC/BTC) after retesting a key diagonal resistance for support.

“MATIC/BTC has still been slowly rising in this range. Walking away, the plan remains the same. New all-time high imminent.

Source: CryptoKaleo/Twitter

Based on the trader’s chart, he appears to be forecasting a strong rally for MATIC/BTC en route to a new all-time high of around 0.00007 BTC ($1.20). At time of writing, MATIC/BTC is changing hands for 0.00005274 ($0.90), suggesting more than 32% upside potential for the pair.

Kaleo then shifts its focus to Bitcoin, predicting that BTC will rise above $18,000 after a slight pullback below $17,000 in the coming days.

“They said it was going to zero, but we are back at the highs of the range. $18,000 is a magnet.”

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Source: CryptoKaleo/Twitter

At the time of writing, Bitcoin is trading at $17,149, a fractional drop on the day.

Kaleo also discusses the peer-to-peer payment network Litecoin (LTC), saying your race against Bitcoin (LTC/BTC) is not over yet.

“LTC/BTC ratio finished retesting recent highs this weekend. I still expect Litecoin to continue to outperform the market in the near future.”

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Source: CryptoKaleo/Twitter

Based on the Kaleo chart, he expects LTC/BTC to rally towards its target of around 0.0058 BTC ($99.40). At the time of writing, LTC/BTC is changing hands for 0.00444 BTC ($76.09), suggesting a possible 30% upside swing for the pair should it hit the Kaleo target.

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Featured image: Shutterstock/issaro prakalung