A widely respected cryptocurrency strategist believes a major rally is imminent for three altcoins, including Cosmos (ATOM) and Gala (GALA).
Household analyst Kaleo tells his 608,200 followers on social media platform X that he believes a strong breakout rally for the underlying asset of interoperable blockchain Cosmos is just around the corner.
According to Kaleo, ATOM is preparing to clear the diagonal resistance around $9.50.
“This time atom “It goes back to its peak and you finally send more than $10.”
Looking at the trader’s chart, he seems to be predicting that ATOM could surge to $11.50.
At the time of this writing, ATOM is trading at $9.59.
Looking at the underlying assets of blockchain-based gaming platform Gala, Kaleo believes GALA is poised to hit its upside target of around $0.06 after the altcoin breaks out of bearish diagonal resistance.
“It’s a little surprising that we haven’t seen GALA make any big moves yet.
A return to the highs in 2023 feels programmed here.”
As of this writing, GALA is worth $0.027.
Traders are also paying attention to Stacks (STX), a cryptocurrency project designed to support apps and smart contracts for Bitcoin (BTC). According to Kaleo, STX could rise to $1 after clearing diagonal resistance.
“STX will blow up when it gets to $0.80.
“It may see a slight decline before it moves higher, but if it falls before it breaks through resistance, you should buy.”
As of this writing, STX is trading at $0.86, above Kaleo’s key resistance area.
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