Cardano, Cosmos, and three different altcoins which can be inflicting huge rallies, in accordance with analyst Scott Melker – The Every day Hodl

Well-respected crypto strategist and trader Scott Melker is keeping a close eye on Cardano, Cosmos, and three other altcoins that he says will spark major rallies.

In a new strategy session, the crypto analyst tells its 78,100 YouTube subscribers that it’s clear skies for Cardano after the smart contract platform broke its previous high of $ 2.47.

“The bottom line was that you saw what Solana (SOL) and LUNA (Terra) and all these coins did in terms of pricing. This is the new all-time high for ADA. Continues to hit all-time highs. For now there is no reason to believe that it will stop. ”

According to Melkers chart, his initial price target for Cardano is around $ 3.40, which is a potential gain of nearly 20% from the current price of $ 2.85.

Another coin on the trader’s radar is Cosmos (ATOM), a project designed to help developers build various blockchains that can handle and share data to create a decentralized internet of blockchains. According to Melker, Cosmos is only one area of ​​resistance away from meeting its price target.

“Looking at the USDT pair, a very clean breakout of the trading range hit after falling in May. The same as Bitcoin. Now it’s about that again ($ 17) … So now we have the break. It hasn’t been retested … So again either buy a decline here or wait to clear this supply area and buy here ($ 23) looking for a target in the $ 32 area. ”

Next up is the Avalanche (AVAX) smart contracts platform, which Melker says will hit its all-time high of around $ 60 again.

“This looks like a massive move, a great dip-buy opportunity if you get it. And look at that volume … that’s absolutely amazing when you compare it to the total volume in this downtrend and this consolidation. “

The fourth coin is the Elrond Internet-Scale Blockchain (EGLD). According to the crypto analyst, EGLD is preparing to turn off its immediate resistance.

“A close above $ 148.65, same thing, either you get greedy or you buy it here ($ 156) or you try to catch it here for support ($ 148.65).”

According to Melkers chart, a break of $ 148.65 could bring the EGLD to $ 203 first and then to $ 245.

The last crypto asset on the list is the automated market maker SushiSwap (SUSHI), which Melker says is in the process of converting the resistance at $ 13.50 into support.

“This is the calm you are looking for. It’s happening right now. This should be aimed at $ 22,537. And there isn’t much resistance in that area (between $ 13.50 and $ 22.53).

I

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trades are made at your own risk and that you are responsible for any losses. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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