Analyst Predicts Upward Squeeze for Cosmos and One Additional Altcoin, Updates Outlook on One Crypto Asset
A widely followed crypto strategist thinks that the interoperable blockchain ecosystem Cosmos (ATOM) is primed for a move up.
Pseudonymous analyst Kaleo tells his 606,800 followers on the social media platform X that he’s bullish on ATOM as he believes that the altcoin is “due for a squeeze.”
“I’m long.”
Looking at the trader’s chart, it appears to suggest that ATOM has taken out a multi-month diagonal resistance with the next area of resistance at $16. At time of writing, ATOM is worth $9.69.
Another coin on the trader’s radar is Worldcoin (WLD), a crypto project founded by OpenAI creator Sam Altman. According to the analyst, WLD is threatening to launch a breakout rally after moving above resistance at $2.55.
“Picked up a bag of WLD.
Nice little pennant breaking above July highs, the market is bullish = send it higher.”
At time of writing, WLD is worth $2.62.
The analyst is also updating his outlook on the move-to-earn project STEPN (GMT). According to the crypto strategist, GMT is now above the resistance of an ascending channel and looks primed for a rally toward $0.65 first with the next target at $1.
“GMT is still up >10% the past couple of days since entry even after the retrace. I’m holding and trusting the plan.”
At time of writing, GMT is trading for $0.30.
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Author: Henry Kanapi
