Scott Melker Predicts Rallies For Solana, FTX, Polygon And Fantom

According to Scott Melker, a prominent cryptocurrency analyst and trader, four altcoins: Solana (SOL), FTX Token (FTT), Polygon (MATIC) and Fantom (FTM) are ready to move to higher levels.

Solana (SOL)

Melker shares in a recent video with his 105K YouTube subscribers that smart contract platform Solana’s native token SOL is ready to move to all-time highs after successfully breaking out of its market slump.

“Solana broke that [descending] blue line, retested it as support, heading up, the target being up here at the all-time highs.”

FTX Token (FTT)

The second altcoin that Melker is looking into is FTT, the utility token of crypto derivatives exchange FTX. The trader says that FTT looks bullish after strong rebound from its seven-day low 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).”

The analyst has two target levels for FTT: initially to go up to $63, but if bulls break that level, the next target is FTT’s all-time high at $85.

Polygon (MATIC)

Melker also has his eyes on Ethereum scaling solution Polygon (MATIC). He says it’s following in the paths of both FTT and SOL.

“MATIC, breaking that blue line right now. Same idea.”

The trader’s chart shows that MATIC could be gearing up for an up bounce to its next resistance at $1.70.

Fantom (FTM)

The fourth and last altcoin on Melker’s list is a smart contract platform Fantom (FTM). The trader points out that FTM broke through its resistance and is ready to move up.