Prominent crypto analyst and trader, Kaleo, has shared his insights on altcoins that he is closely monitoring, predicting that one, in particular, could nearly triple in value. He has a keen eye on several altcoins that are on his radar for potential growth.
Kaleo, who uses a pseudonym, expressed his expectations for the scaling platform Celer Network (CELR) to break out of a prolonged consolidation phase. He mentioned, “The Polkadot (DOT) ecosystem is on the rise, and I’ve bought some CELR to get a piece of this action. I anticipate it to exit the fundamental range it has been consolidating in since the spring of 2022, similar to its movements at the beginning of 2021.”
The analyst’s chart suggests that he expects CELR to soon reach around $0.0700. At the time of writing, CELR was trading at $0.02245, having experienced a roughly 1% decrease over the last 24 hours.
Kaleo also predicted an upward movement for the decentralized oracle provider Chainlink (LINK) and foresees a new rise for LINK after its consolidation phase. Following LINK and CELR, he is optimistic about the decentralized exchange protocol THORChain’s RUNE, expecting it to surpass $8.
In addition to specific altcoins, Kaleo provided an overview of the crypto market for 2024. He highlighted that Bitcoin‘s (BTC) strong rally this year has fueled the performance of many altcoins and anticipates the asset class to continue its ascent in 2024.
The analyst expects major cryptocurrencies like Solana, Avalanche, Bitcoin, and others to make significant gains in 2024. He predicts that Solana will exceed $100, Avalanche will approach $50, and Bitcoin will near $50,000. He notes that altcoins are gaining momentum, new memecoins are being introduced, NFTs are awakening, and there are still four months to go before Bitcoin’s block reward halving. Kaleo believes 2024 will be an extraordinary year in all aspects, with the Bitcoin halving event expected to occur in April 2024.