Crypto Analyst Kaleo Is Bullish On ADA, LUNA, DOGE And ENJ
A widely followed crypto analyst and trader, known as Kaleo, is looking into a number of altcoins, and outlines his altcoin investment strategy for the short-term.
Cardano (ADA)
According to the analyst, the recent uptick of Cardano (ADA) could send signs of what to expect for the rest of 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.”
Another altcoin on Kaleo’s radar is Terra (LUNA), and against its Bitcoin pair. The analyst projects LUNA/BTC to jump 30% and above its previous all-time high (ATH).
“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?”
In his tweet, Kaleo is referring to Do Kwon, the founder and CEO of Terra.
$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.
Next altcoin on the trader’s list is Dogecoin (DOGE). While Kaleo isn’t quite ready to call new ATH for DOGE, based on historic pattern, he is predicting a rally to around $0.30 range, from its current price of $0.13.
“Not calling for a new DOGE ATH, but a move similar to what we saw in the fall of 2018 feels pretty reasonable.”
Not calling for a new $DOGE ATH, but a move similar to what we saw in the fall of 2018 feels pretty reasonable. pic.twitter.com/lg9AjTmHzU
The last altcoin on Kaleo’s list is Enjin (ENJ), which he says is merely there for nostalgic reasons, as it sent into huge rallies in March 2021. The analyst has hopes that it could be repeated.
“ENJ/BTC
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.”
