Kaleo, a high-profile cryptocurrency strategist and trader, has made it known that preparations are being made in order for one specific altcoin to soon rally by more than 600% in the near future. The altcoin in question is Tron (TRX), and the analyst has been charting a relatively quite bullish pathway for this scalable blockchain network.
Tron is a blockchain network with the goal of becoming the biggest operating system that utilizes blockchain technology. It desires to construct a fully decentralized Internet and plans to accomplish this using the TRON protocol. This protocol is said to allow for high availability, scalability, as well as the ability to serve DeFi applications through the use of smart contracts.
Kaleo had made it known that Tron had previously been rejected at 0.0000029, but it has since managed to make preparations to hopefully continue a breakout for the TRX/BTC pair soon. He went on to say that although the pair had been rejected during the high in April, he is nevertheless willing to bet that we will witness a prompt recovery soon as well as a push back of sorts towards upper diagonal resistance.
Kaleo further stated that Tron looks to have been bottomed out as far as the USD chart is concerned, and it had been revealed to his 270K followers that the analyst had added to the previous position following the retesting of TRX at the diagonal support of around $0.146. ‘No guts mean no glory,’ he commented. Kaleo claims that Tron has the capacity to, at the very least, be able to reach $1.00 in the near future. Should this happen, it would be an increase of seven-fold from the current price of approximately $0.144.
Kaleo keeping an eye on two more altcoins
In addition to Tron, Kaleo is paying close attention to both Dogecoin (DOGE) as well as the OMG Network (OMG).
Despite recent events, Kaleo remains confident that DOGE shall be able to eventually reach $1.00, even going as far as to say that he accurately predicted what was going to happen many days ago with complete efficiency accuracy. OMG, on the other hand, has experienced an increase in price by more than 80% within the previous two weeks and appears to be getting set to skyrocket, according to Kaleo. As of the time of this writing, OMG is trading at a price of $11.98, which is a 1.8% decrease since yesterday.