Trader Scott Melker on Twitter (570 thousand subscribers) named three altcoins, the value of which may skyrocket in the near future. Melker predicted higher prices for Polygon, Elrond and Synthetix Network Token.
Polygon
The analyst claims that there is a strong support level on the Polygon chart, which formed around $ 1.25. Melker explained that the altcoin price tried to overcome this mark several times, but it always bounced back and returned to growth.
Thanks to this, the coin could rise to $ 1.7, the trader predicted, since the first resistance level is at this mark. If Polygon manages to break through resistance at $ 1.7 (up 22% from current levels), then its rate could rise to $ 2.7 (up 97%), Melker said.
Strong support. Look at all of those wicks below.
Looks like it wants to go up, assuming #Bitcoin remains stable. pic.twitter.com/HrIXCj2uiA
— The Wolf Of All Streets (@scottmelker) September 14, 2021
On September 17, Polygon is trading at $ 1.39. Over the past day, the cryptocurrency has fallen in price by 6%. Over the month, the coin has grown by 3%. Polygon has a market cap of $ 9.2 billion, according to CoinGecko.
Polygon is an Ethereum-compatible second level sidechain powered by PoS (Proof-ot-Stake) algorithm.
This network is faster and with lower fees than the main Ethereum network.
Elrond
On September 14, Elrond managed to break through the resistance at $ 245, Melker is sure . In his opinion, in the near future, the altcoin will test this mark as a support level, and then may rise in price to $ 340 (an increase of 30% from current levels), since there is no serious resistance in this range.
You had your chances. pic.twitter.com/vCE3EP98Zf
— The Wolf Of All Streets (@scottmelker) September 14, 2021
Elrond traded at $ 260 on September 17. Over the course of the day, the altcoin has fallen in price by 1%. Monthly growth was 88%. Cryptocurrency capitalization increased to $ 5.1 billion.
Elrond is a blockchain platform for building high performance and secure applications (DApps) based on smart contracts.
Elrond’s network is capable of processing up to 15 thousand transactions per second, making it one of the most productive blockchains.
Transactions at Elrond are confirmed almost instantly.
Synthetix Network Token
The Synthetix Network Token is ready to recover to the levels at which it traded in May of this year before the collapse of the crypto market, when the price of bitcoin dropped to $ 30 thousand for the first time since January, the trader said .
According to Melker, the price of the altcoin has overcome an important resistance level around $ 13.5. In the near future, the price of Synthetix Network Token may rise to $ 25.8 (an increase of 83% from current levels), Melker predicted.
Finally looks ready. pic.twitter.com/LapLZ1vBRY
— The Wolf Of All Streets (@scottmelker) September 15, 2021
On September 17, the cost of Synthetix Network Token is $ 14.1. Over the course of the day, the token has fallen in price by 8%. Over the past month, the price of the cryptocurrency has increased by 26%. The coin’s capitalization increased to $ 2.4 billion.
Synthetix Network Token is the internal token of the Haven autonomous payment network,
which was established in September 2017.
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