A widely followed crypto trader believes that three altcoins are gearing up for a big move to the upside.
Pseudonymous analyst Kaleo told his 620,300 followers on social media platform X, a crypto project that aims to introduce non-fungible token (NFT) functionality to the Bitcoin (BTC) blockchain. He said he is bullish on the native asset of ORDI (ORDI).
The trader shared a chart showing ORDI breaking above the diagonal resistance level, suggesting the coin is poised to begin another rally.
“ORDI looks like it’s totally ready to rip.”
Kaleo said last week that ORDI could rise on the back of Bitcoin's strength.
“Bitcoin looks poised to continue higher as stocks continue to hit new all-time highs. It seems easy to bet on the BTC story here. It will play a role, but I would be surprised if it doesn't move up another notch in the ORDI charts.”
Based on traders' charts, he seems to be predicting that ORDI will rise to an all-time high of $130. As of this writing, ORDI is worth $68.23.
Next, Kaleo said he is closely monitoring smart contract platform Avalanche (AVAX). According to Kaleo, AVAX is poised to rally towards the 2023 high after breaking through the diagonal resistance.
“AVAX is about to go above $50 and you can’t bully it.”
At the time of writing, AVAX is valued at $39.37, down about 5% over the past 24 hours but still above Kaleo's resistance.
The final coin on traders’ radar is the native asset of decentralized exchange protocol THORChain (RUNE). Kaleo said RUNE seems bullish on Bitcoin (RUNE/BTC) and believes Bitcoin will rise to a high of around 0.00049807 BTC ($24.64).
“RUNE/BTC looks similar, with a breakout on the higher timeframe followed by a clean retest and looks poised to return to higher highs.”
At the time of writing, RUNE/BTC is trading at 0.00010475 BTC ($5.18).
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