MATIC Poised for a Reversal while Bitcoin Prepares for a Parabolic Surge
According to a popular crypto analyst, who has gained a significant following due to his accurate altcoin predictions, one Ethereum-based token may be on the brink of a reversal.
— K A L E O (@CryptoKaleo) March 7, 2023
Kaleo’s chart suggests that MATIC may experience a final dip below $1 before reversing course and rallying to approximately $1.70.
The analyst thinks that MATIC is currently preparing to overcome its diagonal resistance, which could result in a significant price increase. As of writing, MATIC is worth $1.13.
Furthermore, Kaleo also provided an update on Bitcoin’s outlook, suggesting that the leading cryptocurrency may be consolidating before a parabolic surge in the upcoming months.
He reminded his followers that the $40,000 level continues to be a significant point of attraction for Bitcoin. Kaleo’s chart indicates that Bitcoin could climb to as high as $45,000 in May before creating a bull trap and dropping to around $37,000.
This is your daily reminder $40K is still a magnet. pic.twitter.com/8jPBo5b4C4
— K A L E O (@CryptoKaleo) March 6, 2023
At the time of writing, Bitcoin is trading at $22,202, suggesting a potential upside of over 100% if it reaches Kaleo’s target.