Trader Says Polygon on the Cusp of New Uptrend, Predicts Rallies for THORChain and Ocean Protocol
A popular crypto trader has a long-term bullish outlook on the blockchain scaling solution Polygon (MATIC) as well as two additional altcoins.
The pseudonymous digital asset analyst known as Rekt Capital tells his 368,100 followers on the social media platform X that MATIC is “on the cusp of entering a new macro uptrend” after taking out its bear market diagonal resistance.
Looking at the trader’s chart, the next point of resistance for MATIC appears to be at $1.07. At time of writing, MATIC is trading at $0.891.
Rekt Capital also has a similar analysis regarding RUNE, the native asset for the decentralized cross-chain liquidity protocol THORChain.
“RUNE is trying to break its second macro downtrend in three months. First, it was red. Now, it is blue. Over time, it will also be black.”
The analyst’s chart shows that RUNE has no high time frame resistance until $12. At time of writing, RUNE is trading at $4.80.
Rekt Capital also predicts a price rally for Ocean Protocol (OCEAN), a project that aims to enable users to access and monetize data using artificial intelligence.
“Still successfully retesting this green area as support, downside wicking into it and even forming a higher low in the wicks. Price stability is essential here to continue its move to the ~$0.48 level above (red).”
OCEAN is trading at $0.381 at time of writing.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Trader Says Polygon on the Cusp of New Uptrend, Predicts Rallies for THORChain and Ocean Protocol appeared first on The Daily Hodl.
