The pseudonymous crypto strategist known in the industry as Kaleo tells his 535,400 Twitter followers that Ethereum looks poised for a strong rally as it threatens to take out its diagonal resistance on the lower timeframes.
“The real acceleration of the send for ETH should happen breaking the resistance noted by the green arrow below.”
At time of writing, Ethereum is changing hands for $1,764, up 1.53% on the day.
Against Bitcoin, Kaleo says the ETH/BTC pair just bounced from a crucial support area and now appears to be gearing up for a 23% rally toward his target.
“ETH/BTC continuing to strengthen off