Popular cryptocurrency analyst Kaleo said he has bought more of Dogecoin DOGE/USD and also believes “selling the news” on Cardano ADA/USD is a bad idea.
What Happened: The pseudonymous technical analyst said he has bought more Dogecoin as it hits a critical resistance level of 0.00000602 against Bitcoin BTC/USD.
See Also: How To Buy Dogecoin (DOGE)
Kaleo, who has more than 366,000 followers on Twitter, also said that while he is seeing a lot of “sell the news” comments related to Cardano, he does not believe the third-largest cryptocurrency by market capitalization is anywhere near “peak hype” yet.
Seeing a lot of “sell the news” replies. In a way I agree with all of you, but I don’t think $ADA has seen anywhere near peak hype yet. Here in another ten days it’ll be dominating your feeds. That’s probably when I’ll take some off the table. Until then, we ride higher.— K A L E O (@CryptoKaleo) August 29, 2021
He feels that the Cardano/Bitcoin chart has “clear skies” all the way to its previous all-time high.
A move to the high 3s from here is only ~30%. ADA / BTC chart has clear skies all the way to the previous ATH, which is a 48% move higher. I personally don't think it closes that gap fully on *this* move, but just wanted to show there are no clear BTC pair resistances stopping it pic.twitter.com/JKuHqJOSsK— K A L E O (@CryptoKaleo) August 29, 2021
Why It Matters: Last week, Kaleo had advised investors to “buy a bag” of dogecoin and then “forget about it,” saying the believes Dogecoin will continue to trend higher until it hits the high timeframe (HTF) resistance of 0.000009 Bitcoin.
Other well-known cryptocurrency analysts such as The Crypto Dog have also taken a bullish stance on Dogecoin in recent weeks. Dogecoin's year-to-date gains are an impressive 4,917.5%
Created by the mathematician Charles Hoskinson, Cardano is generating interest after the project announced its intention to usher in smart contract functionality found in blockchain platforms like those of Ethereum ETH/USD on Sept. 12. The cryptocurrency’s year-to-date gains are 1,521.3%.
Price Action: Dogecoin is down 0.4% during the last 24 hours trading at $0.2808 at press time, while Cardano is up 1.4% over the 24-hour period to $2.83.
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