Trader Scott Melker points to three altcoins with good upside potential

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Trader Scott Melker on Twitter (570 thousand subscribers) named three altcoins, the value of which may skyrocket in the near future. Melker predicted an increase in the price of Polygon, Elrond and Synthetix Network Token, writes RBC Crypto.

Polygon

Analyst approvesthat 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, then its rate could rise to $ 2.7, Melker said.

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, sure Melker. 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, since there is no serious resistance in this range.

Elrond traded at $ 260 on September 17. Over the course of the day, 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 this year before the collapse of the crypto market, when the price of bitcoin dropped to $ 30 thousand for the first time since January. considers trader.

According to him, 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, Melker predicted.

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 Havven autonomous payment network, which was established in September 2017.

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