Ethereum
“Calm Before the Storm” – Trader Says Ethereum’s Top Rival Mirrors 2021 Price Action That Predated Rally of Over 700%
A closely followed crypto analyst believes that an Ethereum (ETH) his rival is preparing for a massive gain.
Pseudonymous trader Kaleo tell its 641,800 followers on social media platform X that Avalanche (AVAX) could be poised to mirror the 2021 bullish trend against Bitcoin (BTC).
“AVAX/BTC: I still wouldn’t sleep on Avalanche here. The chart appears to be in a similar place to July 2021. Big gains to start the year, followed by months of hemorrhaging before it starts to tear itself apart. Calm before the storm.
Source: Kaléo/X
Looking at his chart, the trader suggests that AVAX/BTC could break out of a descending channel down to 0.0014 BTC ($99.87), similar to how the trading pair rose from around 0, 0003 BTC in July 2021 to around 0.0025 BTC in December 2021, a gain of 733%.
AVAX/BTC is trading at 0.0005105 BTC ($36.42) at the time of writing, down slightly over the past 24 hours.
Then the analyst predicted this memecoin Dogecoin (DOGE) will have a parabolic breakout against Bitcoin (DOGE/BTC).
“DOGE/BTC: just intimidate. »
Source: Kaléo/X
Looking at his chart, the trader suggests that DOGE/BTC could soon surpass 0.00000380 BTC ($0.27). DOGE/BTC is trading at 0.00000227 BTC ($0.16) at the time of writing, down slightly over the past 24 hours.
The merchant believes The altseason will officially begin once Ethereum breaks the key resistance level against Bitcoin (ETH/BTC) currently around 0.054 BTC ($3,852).
Source: Kaléo/X
ETH/BTC is trading at 0.05370 BTC ($3,798) at the time of writing, down 1% in the last 24 hours.
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Image generated: DALLE3