Altcoins Bullish Technical Analysis On Flow & Axie Infinity As Market Adjusts

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As Bitcoin (BTC) and the crypto market gain momentum, a prominent crypto trader and analyst expressed optimism for the future of two altcoins.

In a series of tweets, the pseudonymous trader, commonly called Kaleo, declares that his position in Dapper Labs’ NFT project, Flow, is growing.

Kaleo says Flow is on the verge of outperforming Bitcoin, as NFT and gaming tokens such as Axie Infinity (AXS) are gaining major traction in the market.

“I punted a long on FLOW. I’ve missed out on the majority of the NFT pumps led by AXS and decided I finally needed some exposure.

The BTC chart is breaking out above higher time frame resistance dating back to the spring rally, where it was one of the leaders in the NFT race.”

Source: Kaleo

On the USD base pair, Kaleo was initially hesitant to add to his position as FLOW battled with resistance on the lower timeframe at $20.96. Now Kaleo says that he’s adding to his FLOW position, as the asset dipped slightly toward $19.95, allowing for a better entry.

“Added more FLOW on the dip.”

Source: Kaleo

The other asset Kaleo is trading as the market recovers is blockchain network Terra Luna (LUNA).

Against USD, Kaleo charts out LUNA forming an ascending wedge, preparing to breakout above $8.

Source: Kaleo

Luna is currently trading at $9.42, up nearly two dollars since Kaleo started tweeting about the asset.

As Bitcoin trades at around $38,000, Kaleo reminds his 338,000 followers that in February, when Bitcoin traded at around $30,000, the top cryptocurrency took just one week to sail above $47,000.

Original Post HERE