A popular crypto analyst has made his predictions for several altcoins amid the ongoing bear market. updated.
The trader, known by the alias Altcoin Psycho, has 10,700 YouTube subscribers, with 25-50% of XRP, Polygon (MATIC), Chainlink (LINK), Chiliz (CHZ), and Polkadot (DOT) if the price of Bitcoin (BTC) drops another step. He said he might fall.
However, Polygon, an Ethereum (ETH) scaling solution, still “looks good”, according to the analyst. The analyst predicts that the altcoin price will stay in the $0.70 to $1.00 range. If Bitcoin doesn’t drop and MATIC consolidates in the next few weeks, the analyst thinks the altcoin price could rise as high as $2. MATIC is currently trading at $0.85 and a move towards the $2 level would mean an increase of about 135%.
Besides, Altcoin Psycho thinks that Chiliz, which powers the social token platform Socios.com, should rise higher in the short term. The analyst thinks CHZ could climb to the $0.24 range, but warns there is “too much unpredictability” with the asset.
Altcoin Psycho also thinks the XRP chart “looks a little weird,” adding that he expects volatility for its ETH rival.
Besides that, Altcoin Psycho thinks LINK’s chart looks great. He says Chainlink is approaching its 200-day exponential moving average and adds that if the altcoin can retrace the $7.50 range, it would look good. If LINK can achieve this, it can increase by 50% according to the analyst.
Finally, a bearish move awaits in Altcoin Psycho Polkadot. According to the analyst, the DOT chart is showing a pullback to $3.50.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.