Ethereum-Based Altcoin Poised for 240%+ Surge as Key Resistance Level Crumbles

Trader Says Ethereum-Based Altcoin Primed for 240% Rally if Major Resistance Level Breaks

A prominent trader has set his sights on an Ethereum-based altcoin, predicting a massive 240% rally if a key resistance level is broken.

In a tweet, the trader, who goes by the handle @CryptoCristian, highlighted Ethereum-based altcoin, Kava (KAVA), as his top pick for the next bull run. He noted that KAVA is trading at a critical level, with the resistance at $4.50 providing the perfect opportunity for a breakout.

"If KAVA breaks above $4.50, I'm expecting a 240% rally," the trader said. "The fundamentals are strong, and the market is primed for a move."

Kava is a decentralized finance (DeFi) protocol that enables the creation of decentralized payment systems, stablecoins, and other financial instruments. The project has seen significant growth in recent months, with its token price more than tripling since the start of the year.

In related news, the trader also updated his outlook on Ripple (XRP), stating that the cryptocurrency is still stuck in a range-bound trading pattern.

"I'm still waiting for a clear breakout above $0.50 to confirm a new uptrend," the trader said. "Until then, I'm cautious and won't be taking any new positions."

Ripple has been struggling to regain its footing since the start of the year, with its price stuck in a narrow range. Despite this, the trader remains optimistic about the cryptocurrency's long-term potential, citing its strong fundamentals and growing adoption in the financial sector.