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Home»ALTCOIN NEWS»Traders say one DEX altcoin is ready for a breakout after once again repeating a previously seen pattern.
ALTCOIN NEWS

Traders say one DEX altcoin is ready for a breakout after once again repeating a previously seen pattern.

By Crypto FlexsApril 18, 20242 Mins Read
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Traders say one DEX altcoin is ready for a breakout after once again repeating a previously seen pattern.
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A prominent cryptocurrency analyst believes one decentralized exchange (DEX) altcoin is poised for a breakthrough.

Pseudonym analyst Kaleo says His 634,800 followers on social media platform

He thinks decentralized finance (DeFi) altcoins look good compared to Bitcoin (BTC).

“I think the BTC pair is at a bottom and as soon as BNB hits new highs, we could see a break from the downtrend it has been stuck in for the past few years.”

Source: CryptoKaleo/X

Kaleo also believes that CAKE will strengthen against the dollar based on a pattern that has been repeated since November 2023.

“All legs of the current range have been progressed downward with an aggressive wick.

I don’t know why this time will be any different.”

video
Source: CryptoKaleo/X

CAKE is trading at $2.72 at the time of this writing. The 125th-largest cryptocurrency asset by market capitalization is down more than 2% in the last 24 hours, more than 29% in the past week and nearly 34% in the past month.

Kaleido Believe BNB is “going perfectly” and has “gigatransfers coming soon”.

video
Source: CryptoKaleo/X

BNB is trading at $536.99 at the time of this writing. The fourth-largest cryptocurrency asset by market capitalization has fallen more than 3% in the past 24 hours.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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