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The closely followed crypto analyst and trader Kaleo has shared the altcoins on his radar, which he closely monitors. The analyst expects one of these altcoins to nearly triple in value. Here are the altcoins on the analyst’s radar.
Three Altcoins on the Analyst’s Radar
The crypto analyst, who goes by the pseudonym Kaleo, stated on his personal X account that he expects the scaling platform Celer Network (CELR) to emerge from a prolonged consolidation phase. While sharing his expectations for CELR, he said, “The Polkadot (DOT) ecosystem is rising from end to end. I bought some CELR to get a share of this rise. Similar to the move it made at the beginning of 2021, I expect it to break out of this fundamental range it has been consolidating since spring 2022.”
Looking at the analyst’s chart, it appears that he expects CELR to rise to around $0.0700 soon. CELR is trading at $0.02245, down about 1 percent in the last 24 hours at the time this article was prepared.
Kaleo also predicted an upward movement for the decentralized oracle provider Chainlink (LINK), which is emerging from consolidation, saying that a new bullish phase for LINK will start soon. Following LINK and CELR, the analyst looked at the decentralized exchange protocol THORChain‘s RUNE, expecting the altcoin to surpass $8.
According to the Analyst, 2024 Will Be a Phenomenal Year for the Crypto Market
Kaleo also made an assessment for the general crypto market for 2024, emphasizing that the strong rally of the largest cryptocurrency Bitcoin (BTC) this year has led to strong performances by many altcoins, and he expects the asset class to continue its rise in 2024.
The analyst expects cryptocurrencies like Solana, Avalanche, Bitcoin, and many others to make a significant breakout in 2024, stating, “Solana is above $100 and Avalanche is approaching $50. Bitcoin is nearing $50,000. Altcoins are starting to move again. New memecoins are being introduced to the market continuously. NFTs are waking up, and there are still four months to go until Bitcoin’s block reward halving. 2024 will be a phenomenal year in every aspect.”
It is known that the halving, which reduces the block reward for Bitcoin miners by 50% per block mined in BTC, is expected to occur in April 2024.
