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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Generated Image: Midjourney
