Crypto

Crypto Analyst Hints at Catalyst That Could Have a Huge Impact on XRP, Polygon, Chainlink and Polkadot

A popular crypto analyst updates his predictions for several altcoins amid the ongoing bear market.

Pseudonymous trader Altcoin Psycho tells his 10,700 YouTube subscribers that XRP, Polygon (MATIC), Chainlink (LINK), Chiliz (CHZ), and Polkadot (DOT) could drop 25-50% if the price of Bitcoin (BTC) plummets . .

However, he notes that Polygon, an Ethereum (ETH) scaling solution, still looks “good” to him. He expects it to stay in the $0.70 to $1.00 range. If bitcoin does not fall and MATIC strengthens over the next few weeks, the analyst believes that it could rise to almost $2.

At the time of writing, MATIC is trading at $0.881. The 10th largest crypto asset by market cap is up almost 4% in the last 24 hours.

Altcoin Psycho says Chiliz, the platform that powers the Socios.com social token platform, is expected to grow in the near future. He believes it could reach the $0.24 range, but warns that there is “a lot of unpredictability” with this asset.

At the time of writing, CHZ is trading at $0.182767.

The analyst also thinks that the XRP chart “looks a bit weird”, adding that he expects the volatility of the ETH competitor.

“Personally, I think it will last another month, to be frank and honest with you. A few more weeks. It is possible that the average will rise, but I think that it will most likely be delayed for a while. »

At the time of writing, XRP is trading at $0.38052. The 7th largest crypto asset by market capitalization is up 0.25% in the last 24 hours.

Conversely, Altcoin Psycho thinks the LINK chart looks great. He says that Chainlink’s 200-day exponential moving average is getting close to its price and notes that the decentralized oracle network will look good if it can recover the $7.50 range. If so, he says the price could skyrocket by 50%.

At the time of writing, LINK is trading at $6.79. The 23rd largest crypto asset by market cap is up over 4% in the last 24 hours.

Finally, the analyst says he is bearish on Polkadot. He says the DOT chart shows it could drop to $3.50. At the time of writing, Polkadot is trading at $5.45.

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