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A widely followed crypto trader believes that a trio of altcoins are gearing up for big moves to the upside.
Pseudonymous analyst Kaleo tells his 620,300 followers on the social media platform X that he’s bullish on the native asset of $ORDI ($ORDI), a crypto project that aims to bring non-fungible token (NFT) capabilities to the Bitcoin ($BTC) blockchain.
The trader shares a chart that shows $ORDI has broken above its diagonal resistance, suggesting that the coin is poised to start the next leg up.
“$ORDI looks ready to absolutely rip.”
Last week, Kaleo said $ORDI could rally on the back of $BTC’s strength.
“Bitcoin looks primed for continuation higher as equities are continuing to print new all-time highs. Betting on $BTC narratives seems like a no-brainer play here. Ordinals are going to play a huge role this cycle, and I’d be surprised if we don’t see the $ORDI chart make another leg up.”
Based on the trader’s chart, he seems to predict that $ORDI will rise to a new all-time high of $130. At time of writing, $ORDI is worth $68.23.
Next up, Kaleo says he’s keeping a close watch on the smart contract platform Avalanche ($AVAX). According to Kaleo, $AVAX is primed to rally toward its 2023 high after breaching its diagonal resistance.
“$AVAX is about to rip back above $50, but you wouldn’t bullieve it.”
At time of writing, $AVAX is worth $39.37, down about 5% in the last 24 hours but still above Kaleo’s resistance.
The last coin on the trader’s radar is the native asset of the decentralized exchange protocol THORChain ($RUNE). Kaleo says $RUNE looks bullish against Bitcoin ($RUNE/$BTC), and he sees the pair rallying to its highs at around 0.00049807 $BTC ($24.64).
“$RUNE/$BTC looks similar with a high time frame breakout followed by a clean retest which looks ready to send back to the highs.”
At time of writing, $RUNE/$BTC is trading for 0.00010475 $BTC ($5.18).
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