Crypto Analyst Scott Melker Notes How Solana, FTT and Two Additional Altcoins Breaking Out of Market Decline - Bitcoin World
The Crypto strategist and trader Scott Melker explains how some assets are seeing huge breakthrough from their decline levels. Furthermore, He notes these that among them are Solana, FTX token and other two as he mentions.
While In a recent video, Melker explains to tells his 105,000 YouTube subscribers how Solana (SOL), the smart contract platform is all out to touch former highs. More so, this price breakout will happen just after seeing some declines.
“Solana broke that [descending] blue line, retested it as support,…” “…heading up, the target being up here at the all-time highs.”
Also, the trader goes on to mention another coin which corrections is coming to an end. According to Melker, He mentions FTT, the utility token of crypto derivatives exchange FTX. Melker explains that FTT is in good bullish position, this is after huge bounce back from seven-day low level at $48.
“This is FTX Token. You have this descending blue line, clear resistance. One, two, three, four, five touches on that resistance…” “…Breaking right now. [The] confirmation comes with a daily close above this line ($55).”
Furthermore, Melker’s chart makes predictions on the initial target for FTT as $63. Notably, if the bulls breaks through that resistance level, then FTT is em route to another massive sugre toall-time high at $85. This amounts to a good markings of over 51% from its current price at $56.
According to Melker chart, The Ethereum scaling solution Polygon (MATIC), is going through the same path as FTT and SOL. Melker explains further,
“MATIC, breaking that blue line right now. Same idea.”
Additionally, MATIC is setting up for another spike to its next resistance level at $1.70. Of course, which represents nearly 30% increase from current price of $1.31.
Notably, The smart contract platform Fantom (FTM) is also on the Trader’s chart. According to Melker, FTM is seeing a break out from its diagonal resistance and now is looking up to to stage a recovery grounds.
“FTM, this was an entry ($1.25). Breakout through resistance…” “…Retest it as support. Heading up.”
More so, the crypto trader’s chart places FTM as the next coin on course to his target at $1.94. Currently, FTM is exchanging trading hand and level at $1.40 mark. This means that the altcoin can easily do a 30% increase according to Melker’s target.
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