It’s been just revealed that there is a veteran crypto trader who is keeping his eyes on more altcoins while he is at the same time anticipating a mini all season that is around the corner.
The crypto market looks great today, with the most important coins trading in the green. Bitcoin, Ethereum, and the other coins from CMC in top 10 are all tradings in the green and things could not look brighter today.
Cardano state in the crypto market
The pseudonymous trader and analyst known as Kaleo says Cardano‘s (ADA) recent bounce could be translated as a signal of what’s to come in the altcoin market.
“Impressive move by ADA so far today. My strategy with alts at the moment is basically looking for charts that look like this (and there are plenty) and longing them. Basic structure is consolidation on top of support after HTF diagonal breakout.”
The other day, we were revealing that there is a lot of institutional money that is pouring into Cardano these days.
Ethereum (ETH), Litecoin (LTC), Cardano (ADA), and XRP enjoyed inflows of $25 million, $0.4 million, $0.9 million, and $0.4 million, respectively. Multi-asset investment products enjoyed a similar fate, as the online publication the Daily Hodl notes.
LUNA’s state in the crypto market
Kaleo is also keeping his eyes on algorithmic stablecoin ecosystem Terra (LUNA).
Based on LUNA in its Bitcoin pair (LUNA/BTC), forecasting a 30% move above all-time highs is too conservative for the trader, as the online publication the Daily Hodl notes.
“LUNA/BTC gaining strength. I still have an extremely hard time believing that a 30% move above the previous ATH from the 3 month consolidation range is all we see. When send, Do [Kwon]?”
He is also keeping an eye on Dogecoin and says the following about the meme-coin:
“Not calling for a new DOGE ATH, but a move similar to what we saw in the fall of 2018 feels pretty reasonable.”
