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.”
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.”
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”.
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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