While the cryptocurrency world has been very active lately, the analyst and trader known by the pseudonym Kaleo has a cryptocurrency that he believes is less popular. Celer Network (CELR) commented on its price. The analyst drew attention with his prediction that he believed that the altcoin price could rise three times on average.
According to Kaleo, the Polkadot ecosystem has been losing blood in recent days, which is the main motivation behind the analyst investing in CELR. CELR has been in an accumulation phase since 2022, repeating similar moves to those it made at the beginning of 2021.
By interpreting the chart he mentioned, the trader believes that the Celer Network price may rise to $0.0700 in the near future.
As Koinfinans.com reported, CELR was trading at $0.02336 at the time of writing, down approximately 1% in the last 24 hours.
Commenting on the general trend in the cryptocurrency market, Kaleo said that the strong rally recorded by the Bitcoin price this year has positively affected the performance of many altcoins. stated. The analyst expects the current positive outlook to continue in 2024 and believes that new rallies may come. However, the analyst remains optimistic about the Chainlink price and the Celer Network price even more recently.
The most important motivation for the bullish expectations of analysts, especially Kaleo, is the expected Bitcoin ETF approval and the halving event that will take place in April 2024.