A widely followed crypto trader is predicting increases for a handful of altcoins, including memecoins Dogecoin (DOGE) and Pepe (PEPE).
Pseudonymous analyst Kaleo tells his 593,000 Twitter followers that DOGE appears poised for bullish continuation after breaking down the diagonal resistance on the four-hour chart.
According to Kaleo, DOGE could witness breakout rallies if it moves above its horizontal resistance of $0.072.
“We have already seen quite a resistance break for DOGE on the USD chart.
Expect an acceleration above a $0.072 recovery (early June pre-breakdown/capitulation level).”
At the time of writing, DOGE is trading at $0.068.
Looking at fellow meme token Pepe, Kaleo believes the altcoin is gearing up for a rally after moving above its diagonal resistance on the four-hour chart.
“Looking for PEPE to steer to the high $0.0000020s from here for an increase similar to the one we saw in mid-June.”
At the time of writing, PEPE is worth $0.00000172.
The crypto strategist also keeps a close eye on the Ethereum (ETH) scaling solution Polygon (MATIC). Kaleo says MATIC could move above $1.00 if it reclaims $0.75 as support.
“I don’t want to get too greedy. Content with a move to just over $1.00 for MATIC in USD.
At the time of writing, MATIC is worth $0.696.
The next step is the decentralized derivatives exchange Injective (INJ). Kaleo says INJ will likely see more rallies until the altcoin hits its $9.50 target.
“INJ has already broken the high time resistance on the USD chart.
Expect an acceleration above a recovery from the April highs of ~$9.50+.
At the time of writing, INJ is worth $8.58.
The latest 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 reached a local bottom and is on its way to its high around $300.
“Don’t be too greedy. I just want to see a return to the $300-$350 range.”
At the time of writing, BNB is trading at $242.
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Image generated: Midway through the journey