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Home»Analysis»Crypto Analyst Predicts Rallies for Two Ethereum-Based Altcoins, Updates Prediction for Bitcoin (BTC)
Analysis

Crypto Analyst Predicts Rallies for Two Ethereum-Based Altcoins, Updates Prediction for Bitcoin (BTC)

2023-11-26No Comments3 Mins Read
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A widely followed crypto strategist believes two altcoins running on the Ethereum (ETH) network are gearing up for a burst to the upside.

Pseudonymous analyst Kaleo tells his 606,600 followers on social media platform

The analyst shares a chart that suggests APE is clearing a diagonal resistance that has kept the altcoin in a downtrend for more than a year and a half.

“This APE outbreak will not fade away. Until last month, BLUR and LOOKS were both trading in lockstep with APE. NFTs are starting to gain some momentum. I see it as only a matter of time before APE catches up.

For reference: – Fade is up 320% from lows – LOOKS is up 235% from lows – MONKEY is up 65% from lows.”

Image
Source: Kaleo/X

At the time of writing, APE is trading at $1.69, up more than 12% in the last 24 hours.

The analyst is also keeping a close eye on the move-to-earn crypto project STEPN (GMT). According to Kaleo, GMT traded within a rising channel after crossing above its diagonal resistance in the high time frame.

“After seeing BLUR post-airdrop after announcing infinite Ponzi mechanics, I’m open to the idea that it’s a never-ending Ponzi season.

So I was craving GMT.

Despite the hemorrhages of the past 18 months, STEPN has remained active, and considering how everything in the Solana ecosystem that has maintained a decent level of activity has boomed recently, I think STEPN could survive.

The chart looks great when we retest the July highs after a breakout on a high time frame; could easily see an outflow from the channel to $0.60 – $1.00.”

Image
Source: Kaleo/X

Kaleo also says GMT appears to be tracking the price action of smart contract protocol Avalanche (AVAX) as it traded within a rising channel last month before breaking out.

Dropping a comparison of $AVAX trending in a rising channel after the HTF breakout (first image) to show how $GMT could accelerate out of its current channel (second photo) pic.twitter.com/3IXHVh7TnM

— KALEO (@CryptoKaleo) November 24, 2023

At the time of writing, GMT is worth $0.346, up over 20% in the past 24 hours.

See also  'Run It Back' – Crypto Analyst Predicts Huge Rallies for Ethereum and Solana, Says October Will Be 'Lightened'

As for Bitcoin (BTC), the analyst thinks the crypto king is about to soar above $40,000.

“Sniped the bottom to the minute. Bring it to $40,000.”

Image
Source: Kaleo/X

At the time of writing, Bitcoin is worth $37,756.

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