Binance Coin and Four Crypto Assets Could Continue Soaring Higher, Says Trader Scott Melker
Crypto strategist and trader Scott Melker says that he’s expecting Binance Coin (BNB) and four red-hot crypto assets to continue their ascent after flashing bullish signals.
In a new strategy session, Melker tells his followers that he’s keeping an eye on BNB as he believes Binance’s utility token could surge over 80% from its current price of $542.18.
“[We] get this other bull pennant in black, gray flagpole. Extrapolate the target: $1,000.”
The trader is also watching the development of blockchain scaling solution Polygon (MATIC), which he says will likely continue its uptrend backed by the coin’s strong fundamentals.
“Volume’s increasing again and it’s continuing up. It’s absurd. But this is for fundamental reasons. They’ve got a ton of TVL (total value locked). People are using it. It’s solving problems. It’s a layer 2 solution. But I mean this is crazy.”
Another decentralized finance (DeFi) project that’s on Melker’s radar is crowdfunding platform Polkastarter. According to the trader, he sees Polkastarter igniting a huge rally after breaking out against Bitcoin (POLS/BTC).
“[Polkastarter] looks amazing. Break, perfect retest, volume increasing after no volume. That should head up. That should head up for sure.”
Automated market maker SushiSwap (SUSHI) is on Melker’s list as well. The crypto analyst maps out the key buy levels for SUSHI as it targets a new all-time high of $23.40.
“Over here SUSHI. Nice breakout… Now you want to be above $18.346, I would say. Otherwise, buy down here ($15.170) if it comes down again.”
The last coin is decentralized oracle network Chainlink. Melker says Chainlink looks bullish against Bitcoin (LINK/BTC) as it gears up to rally to 0.001, then 0.0012, and 0.0016 from its current value of 0.00085.
“It looks great. It came down here (0.00037), retested, and looks like it’s heading up… I think LINK looks fine. It looks kind of ready to go. It looks pretty good.”