This overlooked coin could explode in the middle of a huge breakout, says crypto trader Scott Melker
Crypto trader and analyst Scott Melker is closely monitoring an overlooked altcoin he believes may soar after a massive breakout.
In a new strategy session, Melker tells his 44,000 YouTube subscribers that he is looking at Ethereum competitor EOS, which may have just started its upward trend against Bitcoin (EOS / BTC) after a three-year bear winter.
“I bought EOS. I can’t believe I said that, but I bought EOS because check it out. The highest volume candle on the weekly chart breaks resistance that has existed since the all-time high. One, two, three touches [on the diagonal resistance] and then an absolute pass through Chad. “
According to Melker, EOS / BTC can soar as low as 0.0018, a potential gain of 650% from its current value of 0.00024.
In addition to EOS, the crypto analyst is bullish on two “dino-coins” or altcoins that topped the bull market in 2017 but have noted a lack of action since then.
“XRP resistance broken, above. There are a few who haven’t made it yet. Bitcoin Cash (BCH / BTC) is a large-cap that just did. TRX (TRON / BTC) is a large-cap company that just did it. These didn’t come back to test again [resistance] still.”
Melker predicts that BCH / BTC and TRON / BTC are likely to follow in the footsteps of XRP (XRP / BTC), Ethereum (ETH / BTC and Litecoin (LTC / BTC), all of which have seen massive gains over Bitcoin for the past couple of years have weeks.
“We can trade the SafeMoons, the Shiba Inus (SHIB), the TikTok coins and whatever else. Look, I love a few shit coins myself, but for weeks now the easiest trade has obviously been in these dinosaur large caps and I’ll do that until I can’t anymore. “
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