ALGO, MATIC and 2 other Altcoins could rise higher in the short term, according to top analysts

A well-known analyst says he is bullish on Algorand (ALGO), Polygon (MATIC) and two other altcoins.

Known in the industry as the wolf of the streets, the person told his 568,100 Twitter followers that the decentralized blockchain protocol ALGO appears ready to move on after retesting the $ 1.84 support level.

Melker is aiming for $ 2.60 as the next resistance for the cryptocurrency.

“Perfect retest of $ 1.84.”

The source: Scott Melker / Twitter

As for the Ethereum Polygon (MATIC) scaling solution, he believes MATIC has bottomed out and is ready to go up. He predicts the token will return to its all-time high of $ 2.70.

“Strong support. Price responded by creating long wicks at the bottom.

It looks like it wants to go higher, assuming Bitcoin stays stable. “

The source: Scott Melker / Twitter

Melker is also keeping an eye on the Elrond (EGLD) smart contract platform. At the current price of $ 266, the analyst suggests that the token has broken through important resistance and is currently dormant before moving into a pricing phase. His next goal is $ 340.

“You have your chance.”

The source: Scott Melker / Twitter

The last altcoin on the analyst’s radar is the Privacy Coin Monero (XMR). After breaking above $ 319, he sees his eye for the next areas of resistance at $ 390 and $ 519.

“XMR looks pretty good. The price has bounced off the support line of the ascending triangle and is aiming for higher levels. “

The source: Scott Melker / Twitter

You can see the coin prices here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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According to Dailyhodl

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