A widely followed crypto strategist believes big rallies are imminent for a trio of altcoins including Cosmos (ATOM) and Gala (GALA).

Pseudonymous analyst Kaleo tells his 608,200 followers on the social media platform X that he believes a strong breakout rally is in sight for the native asset of the interoperable blockchain Cosmos.

According to Kaleo, ATOM is gearing up to take out its diagonal resistance at around $9.50.

“Time for ATOM to run it back to the highs and finally send above $10.”

Source: Kaleo/X

Looking at the trader’s chart, he seems to predict that ATOM may surge to as high as $11.50.

At time of writing, ATOM is trading for $9.59.

Looking at the native asset of the blockchain-based gaming platform Gala, Kaleo thinks that GALA is poised to hit his upside target of around $0.06 after the altcoin broke out of its bear market diagonal resistance.

“A bit surprised we haven’t seen GALA make any big moves yet.

A return to the 2023 highs feels programmed from here.”

Source: Kaleo/X

At time of writing, GALA is worth $0.027.

The trader is also keeping an eye on Stacks (STX), a crypto project designed to power apps and smart contracts on Bitcoin (BTC). According to Kaleo, STX could rally to as high as $1 after taking out its diagonal resistance.

“STX should fly when it clears $0.80

Might see a bit of a pullback before it does it, but any dips before it breaks above that resistance are for buying.”

Source: Kaleo/X

At time of writing, STX is trading for $0.86, above Kaleo’s key resistance area.

Generated Image: Midjourney

The post Analyst Predicts Rallies for Cosmos, Gala and One Bitcoin Ecosystem Altcoin – Here Are His Targets appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ December 5, 2023 1:32 am