A well-liked crypto analyst thinks one Ethereum (ETH)-based altcoin is prone to outperform each Bitcoin (BTC) and Binance Coin (BNB).

The pseudonymous dealer often known as Kaleo tells his 536,400 Twitter followers that Ethereum scaling answer Polygon (MATIC) may very well be primed for a breakout towards BTC.

“MATIC is one straightforward alt that ought to nonetheless have fairly a little bit of upside. Let’s begin by trying on the BTC pair and zooming out. The predominate construction is a HTF [High Time Frame] flag relationship again to Could of ’21 that appears prepared for an additional leg increased.”

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Supply: CryptoKaleo/Twitter

Kaleo says he expects MATIC to retrace barely towards BTC earlier than breaking out.

“A transfer to ATH [all-time high]/worth discovery feels doubtless.”

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Supply: CryptoKaleo/Twitter

The analyst thinks MATIC can be forming an identical construction towards BNB.

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Supply: CryptoKaleo/Twitter

Says Kaleo,

“MATIC is at present solely the Eleventh largest cryptocurrency by market cap. A easy 2x would solely barely place it above ADA on the listing, and nonetheless wouldn’t end in a brand new ATH for the MATIC/USD worth.

I’m extraordinarily bullish BTC right here. With the MATIC/BTC pair trying as bullish because it does, it wouldn’t shock me if it’s one of many few initiatives that truly has an opportunity of constructing it again anyplace near its bull market ATH outpacing BTC.”

The analyst says any MATIC worth underneath $1 “feels fairly low cost.”

MATIC is buying and selling at $0.933509 at time of writing. The Eleventh-ranked crypto asset by market cap is up greater than 1% up to now 24 hours.

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