A widely followed crypto strategist believes that two altcoins running on the Ethereum (ETH) network are gearing up for a burst to the upside.
Pseudonymous analyst Kaleo tells his 606,600 followers on the social media platform X that he’s bullish on ApeCoin (APE), the digital asset associated with the Bored Ape Yacht Club non-fungible token (NFT) collection.
The analyst shares a chart that suggests APE is taking out a diagonal resistance that has kept the altcoin in a downtrend for over a year and a half.
“Not fading this APE breakout. Up until the last month, BLUR and LOOKS have both traded in lockstep with APE. NFTs are starting to pick up some momentum. I see it as only a matter of time before APE catches up.
Just for reference: – BLUR is up 320% from the lows – LOOKS is up 235% from the lows – APE is up 65% from the lows.”
At time of writing, APE is trading for $1.69, up over 12% in the last 24 hours.
The analyst is also keeping a close watch on the move-to-earn crypto project STEPN (GMT). According to Kaleo, GMT has been trading within an ascending channel after moving above its high time frame diagonal resistance.
“After seeing BLUR send a post airdrop from the announcement of infinite Ponzi mechanics, I’m open to the idea of it being infinite Ponzi season.
So, I longed GMT.
Despite the bleed over the past 18 months, STEPN has remained active, and considering how everything in the Solana ecosystem that’s maintained a decent level of activity has been popping off lately – I think STEPN could run.
The chart looks gre
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Author: Henry Kanapi
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