A widely followed crypto analyst is predicting a surge for Ethereum (ETH) against both the US dollar and Bitcoin (BTC).
The pseudonymous crypto strategist known in the industry as Kaleo tells his 535,400 Twitter followers that Ethereum looks poised for a strong rally as it threatens to take out its diagonal resistance on the lower timeframes.
“The real acceleration of the send for ETH should happen breaking the resistance noted by the green arrow below.”
At the time of writing, Ethereum is changing hands for $ 1,764, up 1.53% on the day.
Against Bitcoin, Kaleo says the ETH / BTC pair just bounced from a crucial support area and now appears to be gearing up for a 23% rally toward his target.
“ETH / BTC continuing to strengthen off the bounce .0.1+ [BTC] is a magnet. ”
At the time of writing, the ETH / BTC pair is trading at 0.081 BTC ($ 1,751).
Kaleo is also keeping a close watch on Cosmos (ATOM), an ecosystem of blockchains designed to scale and communicate with each other. According to Kaleo, ATOM / BTC has “explosive potential” since the pair has been in a multi-year accumulation phase.
“The Cosmos ecosystem has continued to show strength during the bear market, and it is not going anywhere. Next bull market it’ll be well above this range… Two and a half years of consolidation that looks like that and a sub $ 5 billion market cap should equal explosive potential for a real bull market….
A 3x or so vs. BTC in the next couple of years from the current ratio sounds about right. Might is not as sexy as some other plays, but if there’s one thing I’ve learned over the past five + years in this game, safe is better than sexy 9/10 times. “
At the time of writing, ATOM / BTC is valued at 0.0007295 BTC ($ 15.77).
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock / thinkhubstudio / monkographic