The price of Bitcoin (BTC) is registering another moment of appreciation after months in which the charts pointed to a decline. The rise of the main cryptocurrency of the market has also moved the market of altcoins that already exceeds the trillion dollars.
Thus, amid the recovery of the crypto market in general, Analysts look for cryptocurrencies with the highest upside potential and that may perform better than BTC in the short term.
One of them is the analyst known as “The Crypto Dog”, which in the past successfully predicted the start of the Bitcoin bull market.
The analyst points out that he is paying special attention to three cryptocurrencies that, according to him, could rise more than 100% in the short term.
In a Twitter thread, he told his 572,000 followers that he is optimistic about Elrond (EGLD), which went from $ 100 to $ 150 in recent weeks, and appears to have the strength to continue its bull run for weeks.
“EGLD is preparing for a big appreciation after exiting consolidation. This trend could last days / weeks,” he said.
Altcoins that can go up
The trader is also paying attention to PancakeSwap (CAKE), the decentralized exchange based on the Binance Smart Chain (BSC).
The analyst states that the CAKE token has been in an uptrend since the end of July and is likely to continue rising, possibly hitting all-time highs in the future next.
“The CAKE / USD pair has been in active mode since the end of July, which indicates that we could reach new all-time highs,” he said.
Traders are also optimistic about the layer two scalability network, Polygon (MATIC), and predicts that the crypto asset will rebound to the $ 2 level.
“This looks like a bullish consolidation in MATIC. It will again hit levels beyond $ 2.”
But while some tokens are likely to take advantage of Bitcoin’s rally and climb even higher, The Crypto Dog says the Ethereum (ETH) smart contract platform is likely entering a consolidation phase, as it is trading in the region of $ 3,000 to $ 3,200 and therefore unlikely to see a rise. greater than 10%.
“ETH is consolidating, my bet is on accumulation. It shouldn’t go beyond the $ 3,000 to $ 3,500 range.”