Well-known crypto strategist and trader Scott Melker is closely monitoring seven altcoins that he says threaten to remove their immediate levels of resistance.
In a new strategy session, Melker tells his 83,000 YouTube subscribers that he is watching ETH price movement exhausting sellers at $ 3,330.
“But in the end you want to see [ETH] Hold $ 3,000. That’s the top of that range … And the real deal now is one, two, three, four, five, six touches that are unable to crack $ 3,330. They want to go beyond that and then hope that we will continue to move up. ”
Above $ 3,330, Melker predicts that Ethereum can hit its $ 4,384 goal.
Looking at Cardano, the crypto trader says the “sky is the limit” for ADA after breaking its $ 2.47 resistance and then retesting it as a support.
Another coin on the trader’s radar is Binance Coin (BNB). Melker says the Binance crypto exchange utility token is facing strong areas of resistance, but is bullish on BNB and predicts it will hit its all-time high again.
“We’d expect a lot of resistance here between $ 570 and $ 615, but ultimately it should rise back to $ 691.”
Next up is XRP, which the crypto strategist says is preparing to trigger a rally as long as it holds a key level.
“If it holds $ 1.10, we should expect the price to rise to the region of $ 1.50 to $ 1.70, ultimately to nearly $ 2. Then we can find out. “
The interoperable blockchain Polkadot (DOT) is also on the list of dealers. Melker points out that DOT could form a lower structure in the daily timeframe.
“At this point we have a very strong resistance between $ 28 and $ 31. I would really get out of that range now. But again, tweezer bottoms, possibly … Then you have those tiny wicks at an equal low and then the price goes up. ”
According to Melkers chart, a move above $ 31 could bring the DOT near its all-time high of $ 49.
As for the Uniswap decentralized exchange, the crypto strategist says he would like to see UNI reduce diagonal resistance by $ 27 so it can bounce back on its targets of $ 30 and $ 44.
The last coin on Melker’s radar is Terra (LUNA). Melker says the decentralized financial payments network can soar up to $ 50 after breaking out of a bull flag pattern in the lower timeframe.
Don’t Miss A Beat – Subscribe to crypto email notifications straight to your inbox
Follow us on Twitter, Facebook and Telegram
Surf the daily Hodl mix
Check the latest headlines
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.
Selected image: Shutterstock / Aiolhoz