dailyhodl.com
A widely followed crypto analyst believes that Ethereum (ETH) and three other altcoins in its ecosystem are primed for surges.
Pseudonymous analyst Kaleo tells his 601,300 followers on the social media platform X that Ethereum is threatening to take out its diagonal resistance at $1,900.
According to a chart shared by the analyst, Ethereum may rally to as high as $2,100 following a breakout.
“Considering it is a diagonal season, the fun for ETH should really start whenever it clears $1,900.”
At time of writing, Ethereum is trading for $1,854.
The crypto strategist is also keeping an eye on the Ethereum scaling solution Arbitrum (ARB). Kaleo says that ARB has already flipped a key diagonal resistance into support and may rally to as high as $1.30.
“ARB also looks primed for new highs after breaking out/retesting a high time frame resistance.
I’d like to see a move back to the mid-August breakdown level (~$1.15) followed by the July highs in the $1.30s.”
At time of writing, ARB is worth $1.10.
Next up is layer-2 protocol and Arbitrum rival Optimism (OP). According to Kaleo, OP appears to be following in the footsteps of ARB after taking out a multi-month diagonal resistance.
“Can’t mention ARB without taking a look at OP…
A pretty clear flag forming beneath it – looks ready for a pushback toward the August highs near $2.00.”
At time of writing, OP is worth $1.529, above Kaleo’s diagonal resistance.
The last Ethereum-based altcoin on the trader’s radar is the native asset of the non-fungible token (NFT) marketplace Blur (BLUR). Kaleo shares a chart suggesting that BLUR is in an uptrend after breaking above its diagonal resistance.
“BLUR looks like it’s ready to start the climb back to $0.50.”
At time of writing, BLUR is trading at $0.30.