A widely respected cryptocurrency trader believes three altcoins are gearing up for a big move to the upside.
Pseudonymous analyst Kaleo told his 620,300 followers on social media platform said.
The trader shares a chart showing that ORDI has broken through diagonal resistance, suggesting that the coin is ready to begin the next phase of its rise.
“ORDI looks ready to be completely torn apart.”
Last week, Kaleo said ORDI could rebound based on BTC’s strength.
“Bitcoin appears poised to continue rising as stocks continue to hit record highs. Betting on the BTC narrative seems like a no-brainer play here. Ordinal will play a big role in this cycle and I would be surprised if the ORDI chart doesn’t see another advance.”
Based on the trader charts, he appears to be predicting that ORDI will rise to its all-time high of $130. As of this writing, ORDI is worth $68.23.
Next, Kaleo said it is closely watching smart contract platform Avalanche (AVAX). According to Kaleo, AVAX is poised to rebound towards 2023 highs after breaking through diagonal resistance.
“AVAX is trying to get back above $50 and you wouldn’t blame it.”
As of this writing, AVAX is valued at $39.37, down about 5% in the last 24 hours but still above Kaleo’s resistance level.
The last coin on traders’ radar is the native asset of the decentralized exchange protocol THORChain (RUNE). Kaleo says RUNE is bullish against Bitcoin (RUNE/BTC) and is seeing the pair rise to highs around 0.00049807 BTC ($24.64).
“RUNE/BTC looks similar with a clean retest poised to break back to the highs after breaking higher time frames.”
At the time of writing, RUNE/BTC is trading at 0.00010475 BTC ($5.18).
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