3 Altcoins Preparing to Take Off

3 Altcoins Preparing to Take Off

Trader Scott Melker named three altcoins, the price of which may skyrocket in the near future.

1. Polygon

According to Melker, there is a strong support level on the Polygon chart, which formed around $ 1,25. The trader explained that the altcoin price tried to overcome this mark several times, but always bounced back and returned to growth.

Thanks to this, Polygon may rise in price to $ 1,7, the trader predicted, because the first resistance level is at this mark. If Polygon can break through the resistance at $ 1,7, then its rate could rise to $ 2,7 (up 97%), Melker said. On September 22, Polygon is trading at $ 1,13.

Polygon is an Ethereum-compatible second-level sidechain powered by the PoS (Proof-of-Stake) algorithm.

2. Elrond

Elrond managed to break through the resistance at $ 14 on September 245, Melker said. 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 (an increase of 30% from current levels), since there is no serious resistance in this range. Elrond is trading at $ 22 on September 215,42nd.

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.

3. Synthetix Network Token

The Synthetix Network Token is poised to recover to the levels at which it traded in May before the crypto market crash, when the price of bitcoin fell to $ 30, Melker said. According to him, the price of the altcoin has overcome an important resistance level around $ 000. In the near future, the price of Synthetix Network Token may rise to $ 13,5, the trader predicts. On September 25,8, Synthetix Network Token is trading at $ 20.

Synthetix Network Token is an internal token of the Havven autonomous payment network, which was created in September 2017.