A Crypto Analyst Predicts Upside for THORChain and Blur, Offers Insights on Polygon
A well-known crypto analyst recently shared his thoughts on three different altcoins, including THORChain (RUNE), Blur (BLUR), and Polygon (MATIC).
THORChain Poised for Growth
The analyst believes that THORChain is ready for an upward move and predicts that it could reach $3 in the near future. THORChain is a decentralized liquidity protocol that enables the exchange of assets across various blockchain networks without relying on centralized intermediaries. At the time of writing, RUNE is valued at $2.86, showing a 35% increase over the past week.
Blur’s Potential Despite Recent Dip
Despite a recent 10% drop in value, the analyst sees potential in Blur. He suggests that BLUR could reach $0.30 in its price trajectory. While acknowledging that BLUR may be undervalued compared to OpenSea, he questions whether non-fungible tokens (NFTs) are currently a strong narrative in the market. BLUR is currently priced at $0.235, with a 43% increase over the past month.
Polygon’s Mixed Outlook
The analyst provides a cautious outlook on Polygon, an Ethereum-based layer-2 scaling solution. While acknowledging that it looks okay, he points out that Polygon’s price is currently at the 200-week exponential moving average (EMA) and considers it to be in a neutral position. Compared to other coins, he does not view MATIC as an attractive buy at this time. MATIC is currently trading at $0.629, reflecting a 1.7% decrease over the past 24 hours.
Hot Take: Insights on Altcoins
The crypto analyst offers valuable insights on three altcoins. He believes that THORChain has the potential for further growth, while Blur could reach $0.30 despite recent fluctuations. However, he advises caution when considering Polygon, as it may not be the most favorable investment option at the moment.
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