A closely followed crypto strategist and trader is predicting monster rallies for Solana and Terra while expecting one overlooked altcoin to ignite a leg up.
The analyst known in the industry as Kaleo tells his 393,800 Twitter followers that Ethereum competitor Solana (SOL) has broken out from its downtrend and is now in the early stages of a huge rally.
“SOL playing out exactly as planned so far.”
According to the trader’s chart, SOL can surge to as high as $300, marking potential gains of nearly 80% from its current value of $168.
Another coin on Kaleo’s radar is decentralized finance (DeFi) payment network Terra. According to Kaleo, Terra is flashing signs of strength against Bitcoin (LUNA/BTC) after breaking out from a falling wedge structure, which is a bullish continuation pattern.
“LUNA/BTC. Prepare to commence full send.”
From the pair’s current value of 0.0009 BTC ($44.37), Kaleo projects gains of over 122% to his target of 0.002 BTC ($98.61).
Kaleo is also looking at QTUM, a blockchain platform for enterprises. According to Kaleo, QTUM looks poised to rally higher after retesting its previous high timeframe (HTF) resistance as support.
“QTUM looks solid here. HTF breakout from the multi-year base range, followed by accumulation on the retest, which looks ready for another leg up.”
Featured Image: Shutterstock/GrandeDuc/Andy Chipus