Crypto trader and analyst Scott Melker is closely watching an overlooked altcoin that he believes may skyrocket after a massive breakout.
In a new strategy session, Melker tells his 44,000 YouTube subscribers that he is looking at Ethereum competitor EOS, which may have just started its uptrend against Bitcoin (EOS / BTC) after a three-year bear winter.
“I bought EOS. I can’t believe I said that, but I bought EOS because I’m looking at it. The biggest volume candle of all time in the week breaking resistance since its all-time high. One, two, three touches [on the diagonal resistance] and then an absolute Chad pulls through. “
According to Melker, EOS / BTC can rise up to 0.0018, representing a potential gain of 650% from the current value of 0.00024.
In addition to EOS, the crypto analyst is bullish on two “dinosaur coins” or altcoins that led the indictment during the 2017 bull market but have not taken action since then.
“XRP resistance broken, cracked open. There are a few who haven’t yet. Bitcoin Cash (BCH / BTC) is a large-cap that just made it. TRX (TRON / BTC) is a large cap that just made it. These will not be retested [resistance] still.”
Melker predicts that BCH / BTC and TRON / BTC are likely to follow in the footsteps of XRP (XRP / BTC), Ethereum (ETH / BTC and Litecoin (LTC / BTC), all of which have made massive gains over Bitcoin in recent years Weeks.
“We can trade the SafeMoons, the Shiba Inus (SHIB), the TikTok coins and whatever the hell. Listen, I love a few **** coins myself, but for weeks now the easiest trade has obviously been in these dinosaur large caps and I’m going to do that until I can’t anymore. “
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Featured image: Shutterstock / Jamesteohart