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Miles Deutscher, an analyst from the popular cryptocurrency channel Crypto Banter, shared which altcoins he will be watching in the next few days for promising trade opportunities. In a YouTube video uploaded yesterday, the analyst named THORChain (RUNE), Solana (SOL), and Polygon (MATIC) as the projects that he will be watching closely in the short term.
In the video, Miles also shared his anticipation of gaming tokens breaking out in the coming week. At the core of his bullish outlook on this category of cryptocurrency tokens is an upcoming gaming conference hosted by Yield Guild Games.
He shared that he expects some exciting announcements to be made that could propel these altcoins’ prices. The gaming altcoins that he believes will benefit the most from the event and the potential announcements are Yield Guild Games (YGG) and STEPN (GMT).
He also went on to name RUNE and SOL as cryptocurrencies that he will be looking to accumulate. With regards to RUNE, Miles highlighted that its Total Value Locked (TVL) is busy skyrocketing. Furthermore, he highlighted the fact that RUNE’s annual percentage yield (APY) increases as more capital enters its ecosystem.
Given the increase in TVL, RUNE’s APY is set to increase – making it more enticing to potential investors and liquidity providers. This will cause a snowball effect which could lead to RUNE’s price rising.
Daily chart for SOL/USDT (Source: TradingView)
Meanwhile, SOL has experienced the most explosive price movement over the past few weeks. During this period, the altcoin’s price also broke above the weekly resistance level at $48, noted the analyst. Subsequently, Miles believes that SOL could retrace back to this level to open up a promising trade opportunity.
Daily chart for MATIC/USDT (Source: TradingView)
In the video, Miles predicted that MATIC could benefit from the rapidly growing ZK narrative. He mentioned that a potential confirmation of MATIC’s price soaring in the next few days would be when the altcoin breaks above $0.92. Thereafter, he believes that MATIC could rise to as high as $1.50 in the short term.
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