A popular cryptocurrency trader pointed out some altcoins traded on Binance, the largest cryptocurrency exchange by trading volume. The expert says that XRP and TRX currently have the highest price action in the market. Here are the details…
Kaleo drew attention to two coins traded on the Binance exchange
Kaleo, an anonymous trader and a whale, posted a few new tweets for his 535,000 Twitter followers. The expert says that at the moment XRP and Tron (TRX) have the most promising charts. Looking primarily at the Tron and Bitcoin (TRX/BTC) pair, Kaleo says that the pair has crossed a diagonal resistance line. He says that after successfully breaking this level, he looks ready for another breakout. Kaleo uses the following expressions:
The year is 2022 and TRX and XRP are two of the best looking charts in crypto. The relative strength of TRX/BTC is insane right now. I expect at least one more significant bounce from this streamer.
Bitcoin (BTC) “ready for more diversity”
Kaleo also conveyed his expectations about Bitcoin. The expert thinks that the biggest cryptocurrency will likely hit $19,000 before returning to $20,000. BTC seems poised for more “price diversity” with a setback to this point. Also, the analyst pointed out that BTC had a “lazy opening” at the beginning of the week. However, he said that this situation strengthened his scenario. Indeed, BTC got pretty close to $19,000 in the morning hours. cryptocoin.com As we reported, BTC fell from around $19,500 to $19,000 in the last 24 hours.
Kaleo focuses on CPI
The analyst, who is followed closely, also draws attention to macroeconomic developments. He talks about the possibility of seeing a significant change in volatility on Thursday, when US consumer price index (CPI) data is released. But before that, he said the markets could remain uneventful in the first half of this week. CPI is expected to reach 8.1 percent. However, data that is significantly higher or lower than expected has the potential to move the markets. The analyst uses the following statements:
The CPI will be released this Thursday. This does not guarantee a lack of volatility in the interim period. FOMC minutes are released this Wednesday. We don’t know what other chaos will ensue. However, the CPI has given a fairly credible pivot signal each month for market momentum over the past year.
Kaleo pointed out that November 2021 CPI data is the highest level in 30 years. He points out that this also coincides with Bitcoin’s all-time high and the beginning of almost a year-long downtrend.
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