- Crypto strategist predicts a rally for MATIC and Avalanche.
- He also predicts that Ethereum may outperform Bitcoin.
- Amazon was said to have formed a partnership with Avalanche (AVAX).
An expert who correctly predicted the end of the bull market for Bitcoin (BTC) a year ago is now forecasting surges for the blockchain scaling solution Polygon (MATIC), as well as for the smart contract protocol Avalanche (AVAX).
According to the pseudonymous analyst Pentoshi, who has 672,000 followers on Twitter, MATIC seems to be bullish and may be positioning itself for a rise into a significant resistance level.
It is essential to keep in mind that earlier this month, Amazon was said to have formed a partnership with the AVAX developer Ava Labs in an attempt to accelerate the adoption of blockchain technology across a variety of sectors.
This leads Pentoshi to assume that the team is making substantial adjustments, which might consequently cause AVAX to go up to $28 in the recent future.
Pentoshi, on the other hand, is keeping a watch on Ethereum which, according to his analysis, seems to be positioning itself for a rise in its Bitcoin pair (ETH/BTC).
When looking at the chart provided by Pentoshi, it would seem that he is forecasting an increase in the price of ETH/BTC to around 0.072 BTC, which is equivalent to $1,677.
Concretely, Ethereum is changing hands at $1,612.91 which proves a percentage increase of 0.11% during the last 24 hours while Bitcoin, the largest cryptocurrency exchange is trading at $23,511.04.
On the other hand, Avalanche (AVAX) is trading at $20.58, with a trading volume of $444,383,388 during the past 24 hours. MATIC is changing hands at $1.18 according to Coinmarketcap data.
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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.
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