A widely respected cryptocurrency strategist believes that two altcoins running on the Ethereum (ETH) network are primed for an uptick.
Household analyst Kaleo tells his 606,600 followers on social media platform
The analyst shares a chart that suggests APE is clearing the diagonal resistance that has kept the altcoin bearish for over a year and a half.
“This APE breakout is not going away. Until last month, both BLUR and LOOKS traded closely with APE. NFTs are starting to gain momentum. I think it’s only a matter of time before APE catches up.
For reference only: – blur Up 320% from the low – appearance Up 235% from the low – monkey It rose 65% from its low point.”
As of this writing, APE is trading at $1.69, up more than 12% in the last 24 hours.
Analysts are also closely watching the revenue-generating cryptocurrency project STEPN (GMT). According to Kaleo, GMT is trading within a rising channel after breaking above the higher time zone diagonal resistance.
“After seeing BLUR send out post-airdrops on their infinite Ponzi mechanism announcement, I was open to the idea that this was an infinite Ponzi season.
So I admired GMT.
Despite the hiatus over the past 18 months, STEPN has continued to be active, and considering that everything in the Solana ecosystem is active, which has recently maintained a decent level of activity, we believe that STEPN can operate. do.
The chart looks great with a retest of the July highs after a breakout higher on the time frame. It’s easy to see pressure from the channel towards $0.60 – $1.00.”
Kaleo also said that GMT appears to be following the price action of smart contract protocol Avalanche (AVAX) when it was trading within an upward channel last month.
compare delete $AVAX It shows the upward trend of the channel after the HTF breakout (first picture). $GMT Can accelerate on current channel (second picture) pic.twitter.com/3IXHVh7TnM
— Kaleo (@CryptoKaleo) November 24, 2023
As of this writing, GMT is worth $0.346, up more than 20% in the last 24 hours.
As for Bitcoin (BTC), analysts believe the cryptocurrency king is poised for a surge above $40,000.
“I hit the floor every minute and every second. Run up to $40,000.”
As of this writing, Bitcoin is worth $37,756.
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