A widely followed cryptocurrency analyst and trader is predicting that one under-the-radar altcoin will nearly triple in value.
The analyst pseudonymously known as Kaleo tells his 612,400 followers on the social media platform X that scaling platform Celer Network (CELR) could break out from an enduring accumulation phase.
“The DOT (Polkadot) ecosystem is ripping across the board. Grabbed a bag of CELR to get some exposure. Looking for a squeeze out of this base range it’s been accumulating in since spring of 2022, similar to the move it had in early 2021.”
Looking at his chart, the trader suggests that CELR could soon soar to around $0.0700.
CELR is trading for $0.02336 at time of writing, down nearly 1% in the last 24 hours.
As for the entire crypto market, Kaleo is predicting a bullish 2024 for the asset class as Bitcoin’s (BTC) strong rally this year appears to have inspired the strong performance of many altcoins as of late.
“Solana [above] $100.
Avalanche approaching $50.
Bitcoin approaching $50,000.
Alts starting to move again across the board.
Memecoins printing.
NFTs (non-fungible tokens) waking up.
And it’s still four months until the [Bitcoin] halving.
Holy sh*t 2024 is going to be insane.”
The halving, which slashes BTC miners’ rewards in half, is slated for April 2024.
The trader also predicts an imminent move to the upside for decentralized oracle provider Chainlink (LINK) after a period of consolidation.
“LINK is overdue for another leg up.”
Chainlink is trading for $15.66 at time of writing, up 1.8% in the last 24 hours.
Lastly, the trader predicts that the decentralized exchange protocol THORChain (RUNE) will soar past $8.
“RUNE is finally waking up.”
RUNE is trading for $5.74 at time of writing, down over 5% in the last 24 hours but still above the trader’s diagonal resistance.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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