Pseudonymous analyst Kaleo tells his 593,000 Twitter followers that DOGE looks poised for bullish continuation after taking out its diagonal resistance on the four-hour chart.
According to Kaleo, DOGE could witness breakout rallies if it moves above its horizontal resistance at $0.072.
“We’ve already seen a decent resistance break for DOGE on the USD chart.
Expecting acceleration above a reclaim of $0.072 (early June pre-breakdown/capitulation level).”
At time of writing, DOGE is trading for $0.068.
Looking at fellow meme token Pepe, Kaleo believes that the altcoin is gearing up for a rally after moving above its diagonal resistance on the four-hour chart.
“Looking for PEPE to send to the high $0.0000020s from here for a leg up similar to the one we saw mid-June.”
At time of writing, PEPE is worth $0.00000172.
“Don’t want to get too greedy. Content with a move to just over $1.00 for MATIC in USD.”
At time of writing, MATIC is worth $0.696.
Next up is the decentralized derivatives exchange Injective (INJ). Kaleo says INJ will likely see more rallies until the altcoin hits his target of $9.50.
“INJ has already broken high timeframe resistance on the USD chart.
Expecting acceleration above a reclaim of the April highs ~$9.50+.”
At time of writing, INJ is worth $8.58.
The last altcoin on the trader’s radar is Binance Coin (BNB), the utility token of the world’s largest crypto exchange. According to Kaleo, BNB has likely carved a local bottom and is en route to its range highs at around $300.
“Not being too greedy. Just want to see a return to the $300 – $350 range.”
At time of writing, BNB is trading for $242.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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