A widely used crypto strategist and trader predicts a 100% increase in the price of Cardano (ADA) after the smart contract platform’s rise to a new all-time high.
In a new tweet, the analyst known as Kaleo tells his 292,700 followers that he believes (ADA) is preparing for a massive rally after breaking the 2018 bull market high.
“Hard to believe ADA won’t at least double from here. A clean break above the January 2018 all-time high earlier this month, followed by an accumulation above the breakout. Just a matter of time before it starts sending again. “
Looking at the Bitcoin pair, Kaleo says the ADA / BTC must put up some crucial resistance before it can ignite the next leg.
“ADA/.BTC Expected resistance at 4,200 satoshis (0.000042). Break beyond that and it’s gone. “
Kaleo is also optimistic about a handful of altcoins. An altcoin on his radar is the automated income generation log yearn.finance (YFI). According to the trader, the yearn.finance breakout against Bitcoin (YFI / BTC) is a sign that the decentralized finance space (DeFi) is ready to follow suit.
“I don’t have a bag YFI, but it’s hard not to look at the YFI / BTC chart and not believe that DeFi is really going to ramp up across the board. I’m starting to look for solid projects that haven’t moved a lot lately and are geared towards continuation. “
Another coin on Kaleo’s list is Solana-based credit and lending platform Oxygen (OXY), which he believes is ready to bounce back after hitting a low of $ 2.70.
“OXY Calling a Bottom for High Time Frame Support. I’ll consider stacking more in the box when we get it. I still believe projects are undervalued in the Solana ecosystem. “
The intelligent contract platform Polkadot (DOT) must break a resistance of $ 48, according to Kaleo, before Ethereum’s competitor can initiate the next phase of its bull market.
“POINT It looks like it should be ready soon to break out of the area it was stuck in for the past 3 months and expand higher. I have a bag.”
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