Crypto strategist predicts steep rally for Ethereum, mentions an Altcoin that could break out the next bull market
A widely followed crypto analyst predicts a rally for Ethereum (ETH) against both the US dollar and Bitcoin (BTC).
The pseudonymous crypto strategist known in the industry as Kaleo tells his 535,400 Twitter followers that Ethereum looks poised for a strong rally as it threatens to take out its diagonal resistance on the lower time frames.
“The real acceleration of the send for ETH should happen by breaking the resistance noted by the green arrow below.”
At the time of writing, Ethereum is trading hands at $1,764, up 1.53% on the day.
Against Bitcoin, Kaleo says the ETH/BTC pair just bounced off a key support area and now looks set for a 23% rally towards its target.
“ETH/BTC continues to strengthen from bounce .0.1+ [BTC] is a magnet.”
At the time of writing, the ETH/BTC pair is trading at 0.081 BTC ($1,751).
Kaleo is also keeping a close eye on Cosmos (ATOM), an ecosystem of blockchains designed to scale and communicate with each other. According to Kaleo, ATOM/BTC has “explosive potential” since the pair has been in a multi-year accumulation phase.
“The Cosmos ecosystem has continued to show strength during the bear market and it’s not going anywhere. The next bull market will be well above this range … Two and a half years of consolidation that looks like this and a sub-$5 billion market cap should equivalent to explosive potential for a true bull market….
A 3x or so against BTC over the next couple of years from current conditions sounds about right. Maybe not as sexy as some other plays, but if there’s one thing I’ve learned over the past five+ years in this game, safe is better than sexy 9/10 times.”
At the time of writing, ATOM/BTC is valued at 0.0007295 BTC ($15.77).
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