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Recently, speculations about an upcoming altseason have become the most common topics in the crypto-community. Yet, what is the meaning of the same?
As KogoCrypto has previously stated, Bitcoin’s dwindling domination has been the talk of the town for quite some time. According to TradingView, Bitcoin’s Dominance rate (BTC.D) was 42.03 percent at the time of publishing. Expectations for an altcoin rally are only going to rise further as a result of this discovery.
Kaleo, a well-known investor and analyst, is one of those who has fueled those hopes, recently tweeting about his sky-high expectations for Litecoin (LTC), Binance Coin (BNB), and EOS.
Kaleo predicted a huge price pump towards $2000 in his optimistic narrative for LTC. It should be remembered, though, that he did state that he would be happy with a price range of $1000 – $1200. Furthermore, he purchased the coin in question every day when it was trading for less than $500.
His tweet read,
“This is why I am buying spot Litecoin every day it’s under $500.”
When compared to LTC’s 2017 bull run performance, the altcoin’s latest charts have been picturing a similarly bullish trend as well. Ergo, LTC could surpass the $1000-mark once it breaks even.
Kaleo isn’t the only one either. In fact, another crypto-proponent rode the same LTC bandwagon to put forward his approach.
Litecoin, the silver to BTC’s gold, saw an incline of about 46% in the last 10 days. However, at the time of writing, it was at the end of a price correction of about -13.97% in the last 24 hours.
Binance Coin (BNB)
Next on his shopping list was Binance’s native cryptocurrency – BNB.
When $680 breaks and BNB enters price discovery, I expect price appreciation to accelerate rapidly. pic.twitter.com/RmIvTANiH2
— K A L E O (@CryptoKaleo) May 10, 2021
With reference to the aforementioned tweet, the $680 break-even level could signal BNB’s entrance to price discovery. Following the same, the analyst expects the price to “accelerate rapidly.”
Finally, the trader discussed the trending flagship cryptocurrency, EOS, which, in his opinion, “hasn’t come anywhere close to its all-time highs (ATH) from the previous bull cycle.”
In this case, he went a different way to back up his analysis.
He contrasted EOS’s market action review to that of ETC, which recently experienced a similar spike over the past month. The tweet, named ‘EOS vs. ETC USD’, said,
“After ETC started to breakout, it accumulated beneath its previous ATH prior to shooting straight past it. The structure of the EOS chart looks extremely similar. I don’t expect it to stop in the low $20s when it moves out of its current range.”
Additionally, Kaleo stacked more EOS as he saw huge uptrend potential in the coming future.
“Added some EOS here. I see it as only a matter of time before it reclaims the highs set several weeks ago. Once $9.00 is breached, it should have a relatively clear path back to the old ATH of $23.00.”
At the time of writing, EOS was trading at the $11.3-price level which saw its latest bullish trend cut short by -14.6% in the last 24 hours.