A widely followed crypto analyst says that one Ethereum (ETH) layer-2 scaling solution appears to be a cusp of a rally that would see it print gains of over 200%.
In a new strategy session, crypto trader Michaël van de Poppe tells his 736,000 followers on the social media platform X that Polygon (POL) rival Optimism (OP) could hit a new all-time high (ATH) by the start of next year if it holds key support levels.
“Volatility is increasing. OP has tested the crucial resistance, but dropped more than 20% in the past few days. If there’s another test at $1.80-1.90, then I expect we’ll break upwards and have an ATH test in January.”
Optimism is trading for $1.54 at time of writing, a 7% decrease during the last 24 hours. To pass its all-time high of $4.84, OP would need to increase by 214% from its current price.
Moving on to Bitcoin (BTC), van de Poppe says the top crypto asset by market cap could hit a six-figure price tag by the end of this week. However, he also predicts that all crypto markets will see a flash crash in the next week or two that will inhibit liquidity.
“A massive chart for Bitcoin. It’s up a lot since Trump’s election. The question is: Are we seeing $100,000 during this week? We might. We’ll also have a flash crash across the markets in the coming 1-2 weeks to take liquidity on the downside.”
Bitcoin is trading for $88,757 at time of writing, a 5% decrease on the day.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, 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 losses 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: DALLE3
The post Polygon Rival Primed To Explode by Over 200% in Weeks, According to Crypto Analyst Michaël van de Poppe appeared first on The Daily Hodl.
