A pseudonymous cryptocurrency strategist known in the industry as Kaleo told his 535,400 Twitter followers that Ethereum looks poised for a strong rally as it threatens to overtake the diagonal resistance on the lower timeframe. says it looks like
“A real acceleration of ETH transfers would have to break the resistance indicated by the green arrows below.”
At the time of writing, Ethereum is trading at $1,764, up 1.53% for the day.
Against Bitcoin, Kaleo said the ETH/BTC pair had just bounced off a key support area and now appears to be gearing up for a 23% rally towards his goal.
“ETH/BTC Continues Strengthening From Bounce.0.1+ [BTC] It’s a magnet. ”
At the time of writing, the ETH/BTC pair is trading at 0.081 BTC ($1,751).
Kaleo is also keeping an eye on Cosmos (atom) is an ecosystem of blockchains designed to scale and communicate with each other. According to Kaleo, ATOM/BTC has “explosive potential” as it is in a multi-year accumulation phase.
“The Cosmos ecosystem has continued to show strength during the bear market and is not going anywhere. In the next bull market, we will be well above this range… like 2 1/2 years of consolidation. and a market cap of under $5 billion should match the explosive potential of a real bull market….
From the current ratio, it seems almost right that it will be about 3x against BTC in the next few years. It may not be as sexy as other plays, but if there’s one thing this game has taught me over the past five years, it’s that 9/10 times safer is better than sexy. ”
At the time of writing, ATOM/BTC is worth 0.0007295 BTC ($15.77).
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