A veteran crypto trader said he expects a “mini altcoin season” to begin in the near future, and he thinks a number of different altcoins will also perform well during this period.
Cryptocurrency whale and analyst known by the alias Kaleo Cardano (ADA) He said that its latest bounce could be a signal of what is to come in the altcoin market.
“The most impressive move ever from the ADA.
My strategy with altcoins right now is basically to look for charts that look like this (and there are lots of them) and long them.
The underlying structure is consolidation above support after the HTF cross breakout.”
Kaleo is also an algorithmic stablecoin ecosystem. Terra (LUNA) also examines it closely. Based on LUNA’s Bitcoin pair (LUNA/BTC), even forecasting a move 30 percent above all-time highs is an understatement for the trader.
“LUNA/BTC is gaining strength. I still find it very hard to believe that a move above 30 percent ATH before the 3-month consolidation window is all we can see.”
Ranked on analyst’s bullish list, popular memecoin Dogecoin (DOGE) exists. The crypto trader says that while he’s not ready to go mega-bullish on DOGE, he still expects a healthy rise near the $0.30 range for the altcoin, which would mean a 150 percent rally from current prices.
“I am not advocating a new DOGE ATH, but a move similar to what we saw in the fall of 2018 seems quite plausible.”
The popular analyst also predicts that an altcoin built on Ethereum will join the rest of the list of altcoins he expects to rally. Popular whale focused on decentralized game Enjin (ENJ), He says he hopes he will repeat something similar to his big rallies in March 2021.
“ENJ/BTC. I’m really longing this altcoin just for nostalgia.
I had a great run with this last March and thought I’d give it another shot at a jump here.”
Kaleo says that like Bitcoin, Enjin has a strong market structure in the USD pair.
“The ENJ/USD chart also looks solid.
For this scalp (a short-term trading strategy that involves making small, frequent gains at the end of the trading day to make a substantial return) target just over $2.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.