Kaleo Predicts 6x Rally For Cardano, Bullish on 2 Altcoins: HNT & AVAX
According to a popular, pseudonymous cryptocurrency analyst and trader it wouldn’t be a surprise, if Cardano (ADA) exploded 604% from current prices in a matter of months.
The analyst known in the industry as Kaleo shares with his 353K Twitter followers that if Bitcoin and Ethereum price action continues trending upwards, as many predict, Cardano would follow in a big way.
ADA could break out in a similar fashion to Tron-based BitTorrent (BTT), according to the trader. The altcoin exploded nearly 1000% from $0.001 to $0.01 between March and April of this year.
“In a world where BTC is $100K+ and ETH is $10K+, Cardano pulling a BTT wouldn’t surprise me.”
The analyst is also keeping a close eye on a few of the under-the-radar altcoins. The first is Helium (HNT), a decentralized network for Internet of Things (IoT) devices. The project is building its own blockchain by incentivizing users to mine HNT with easy-to-use “hotspot miners.”
Helium’s fundamentals are looking ideal, says Kaleo.
“Time to start paying attention to HNT again. A project I’ve been paying attention to for several months that finally looks ready to make a move higher.
The second smaller altcoin is smart contract platform Avalance (AVAX), also in its Bitcoin pair (AVAX/BTC). Although AVAX/BTC has already shot up significantly, the move might be far from over if it can break a critical resistance, Kaleo says.
“I wouldn’t fade this pump. If you’re lucky enough to get a retest of the breakout, might not be a bad idea to ape.”
The trader is also drawing a potential path ahead for Bitcoin and reveals his “worse case scenario” for BTC.
“Some people may see a break below the diagonal and start wondering if this little run up we’ve seen over the past several weeks is finally over. I think worst case we see a retest of the top of the base range / HTF diagonal in the low 40s and keep running higher.”
