Crypto analyst Scott Scott, also known as “The Wolf of All Streets,” has shared his insights on several altcoins to watch out for in his recent video analysis. According to Scott, many cryptocurrencies are coming into resistance, but some have shown massive potential for growth.
Ethereum (ETH)
The first altcoin on Scott’s radar is the largest of them all, Ethereum. The expert believes that the coin is set for a massive surge in the near future. On the USD pair, he believes that Ethereum is coming into resistance at $2030 and will see a death cross soon. However, if it breaks above $2100, Scott believes it has the potential to soar to $2500 or even $2800-2900. At the time of writing, Ether was worth $1,869.
Binance Coin (BNB)
Binance Coin (BNB) is another cryptocurrency that the expert believes has a lot of potential. He notes that BNB had a breakout and retest last year, and its price has been aggressively large ever since. Scott expects BNB to head up straight to $380 after bouncing off the bottom. The coin is valued at $312 right now.
Cardano (ADA)
Cardano (ADA) is also on Scott’s radar, but he warns against buying directly into resistance. He advises waiting for a well-defined breakout and retesting to maximize profits. Scott expects ADA to hit $0.68 to $0.74 if it breaks above $0.44. ADA is currently exchanging hands for $0.383.
Polygon (MATIC)
Scott had previously gotten the inverse head and shoulders call right for Polygon, as it hit its target of $1.40. However, he got the breakout and retest call wrong, noting that it never held the support. He suggests waiting for a breakout above $1.24 to see it move up to $1.60. At press time, MATIC is trading at $1.12.
Solana (SOL)
Scott believes that Solana is coming up to a mega monster resistance level after its rejection at the 50 and 200 moving averages. However, he sees it moving up to $27 if it breaks above the resistance line and eventually up to $38. SOL is worth $20.64 at press time.
Polkadot (DOT)
Polkadot (DOT) did not do the “dot thing” that Scott had previously called for, but it still hasn’t dropped below $6.50. He suggests waiting for a breakout and retesting above $9.60 to see the price move up to that level. DOT is currently worth $6.31.
Fantom (FTM)
Scott took a look at FTM’s daily chart and noted that it is currently at resistance, but he likes the breakout entry and believes it could send the price back to around $0.64. He also mentioned that holding the 50MA is nice, and overall, FTM is looking good overall as an investment choice.
The altcoins discussed by Scott provide an interesting glimpse into the current state of the market, and it will be interesting to see how these coins perform in the coming weeks and months. As always, it is important to do your own research and make informed decisions when investing in crypto and not just blindly rely on experts’ opinions, because at the end of the day, they are just that; opinions.
