A veteran crypto trader has his eyes on a slew of different altcoins while anticipating a “mini altseason” kicking off in the near future.
The pseudonymous trader and analyst known as Kaleo says Cardano‘s (ADA) recent bounce may be a signal of what’s to come in the altcoin market.
“Impressive move by ADA so far today.
My strategy with alts at the moment is basically looking for charts that look like this (and there are plenty) and longing them.
Basic structure is consolidation on top of support after HTF diagonal breakout.”
Kaleo also has his eye on algorithmic stablecoin ecosystem Terra (LUNA). Based on LUNA in its Bitcoin pair (LUNA/BTC), forecasting a 30% move above all-time highs is too conservative for the trader.
“LUNA/BTC gaining strength. I still have an extremely hard time believing that a 30% move above the previous ATH from the 3 month consolidation range is all we see.
When send, Do [Kwon]?”
Up next is the original memecoin Dogecoin (DOGE). The crypto trader says that while he isn’t ready to flip mega-bullish on DOGE, he still expects a healthy bump somewhere near the $0.30 range, which would be a 150% rally from current prices.
“Not calling for a new DOGE ATH, but a move similar to what we saw in the fall of 2018 feels pretty reasonable.”
The popular analyst also predicts one altcoin built on Ethereum to join the rest of his watchlist for rallies. He says he hopes decentralized gaming-focused Enjin (ENJ) manages to pull off something similar to its massive rallies of March 2021.
I’m really longing this one just for the nostalgia.
Last March had one hell of a run with this and figured I’d give it another shot for a bounce here.”
Like its Bitcoin pair, Kaleo says Enjin has a strong market structure in its USD pair as well.
“ENJ USD chart looks solid as well.
Scalp target is just above $2.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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/Tecnofantasy