A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a blue-chip altcoin that has more than tripled in value in two months.<\/p>\n
The analyst pseudonymously known as Kaleo tells<\/a> his 611,900 followers on the X social media platform that if THORchain (RUNE<\/a>) rises above the descending trendline on the daily chart that is currently acting as a high time-frame resistance level, he could \u201ceasily see\u201d the decentralized cross-chain liquidity protocol \u201cmaking a run to new all-time highs\u201d.<\/p>\n \u201cBought the dip & started a position on RUNE.<\/em><\/p>\n If there\u2019s anything I\u2019ve learned over the past several months \u2013 it\u2019s don\u2019t fade momentum.<\/em><\/p>\n If this manages to break above HTF (high timeframe) resistance, I could easily see it making a run to new ATHs (all-time highs).\u201d<\/em><\/p>\n THORchain, which is currently the 50th-largest crypto asset by market cap, is trading at $5.40 at time of writing, up by around 231% from the low of $1.63 recorded on October 21st. The decentralized cross-chain liquidity protocol\u2019s record high of $21.28 was reached in May of 2021.<\/p>\n According to Kaleo, the THORchain\/Bitcoin (RUNE\/BTC<\/a>) pair overcame<\/a> a high time-frame resistance level on the daily chart last month and this coincided with the start of the current rally.<\/p>\n \u201cRUNE already broke above HTF resistance on the BTC pair at the beginning of November when it really started to run.<\/em><\/p>\n Don\u2019t want to miss the opportunity of an INJ type of run with a name I\u2019ve been familiar with for ages, but mostly watching from the sidelines as it prints.\u201d<\/em><\/p>\n RUNE\/BTC is trading at 0.00012299 BTC ($5.40)\u00a0at time of writing.<\/p>\n Next up is Bitcoin. From an attached chart, Kaleo appears<\/a> to suggest that the flagship crypto asset is currently mirroring the price action it recorded in 2020 and 2021 on the four-hour chart. Additionally, it appears from the attached chart that the widely followed pseudonymous trader expects Bitcoin to reach a price of over $48,000 early next year.<\/p>\n \u201cBitcoin \/ BTC<\/em><\/p>\n Something like this from here\u201d<\/em><\/p>\n On what the next year portends for crypto assets, the pseudonymous analyst says<\/a>,<\/p>\n \u201cSolana approaching $100.<\/i><\/p>\n Avalanche approaching $50.<\/i><\/p>\n Bitcoin approaching $50,000.<\/i><\/p>\n Altcoins starting to move again across the board.<\/i><\/p>\n Memecoins printing.<\/i><\/p>\n NFTs (non-fungible tokens) waking up.<\/i><\/p>\n And it\u2019s still four months until the [Bitcoin] halving.<\/i><\/p>\n Holy shit 2024 is going to be insane.\u201d<\/i><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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