Popular crypto strategist Kaleo says that one red-hot altcoin is likely to keep carrying on upward, while also giving some predictions on two more digital assets.
The pseudonymous trader tells his 360,000 followers that smart contract platform Solana’s (SOL) recent bullish momentum likely isn’t over as he expects the Ethereum competitor to launch a new rally.
“SOL probably keeps running up to HTF [high timeframe] resistance just shy of $100.”
The strategist also says that Solana appears to be setting itself up for a huge breakout in its Bitcoin pair (SOL/BTC).
Break above this resistance, and sh*t is about to get really crazy.”
Kaleo also says that Chiliz (CHZ), the native token on sports-focused fintech platform socio.com, is gearing up to take out the diagonal resistance that has kept the price of the altcoin depreciated since March.
“Keeping an eye on CHZ here. NFT [non-fungible tokens] tokens are starting to pick up steam again, and I wouldn’t be surprised to see Chiliz run it back to the spring highs when it’s able to break out of the HTF resistance here.”
The other altcoin the trader has his eye on is Raydium (RAY), an automated market maker (AMM) protocol built on the Solana blockchain. According to Kaleo, RAY is jostling to ignite a 100% surge from its current value of $7.23.
Solana ecosystem projects look ready to make another leg higher. I decided I don’t have enough exposure – so I went ahead and snagged a bag of RAY. Looking for a move back to double digits to resistance from the May 19th breakdown.”
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/Roman3dArt