A closely watched cryptocurrency analyst believes an Ethereum (ETH) competitor is gearing up for huge profits.
Alien trader Kaleo tells his 641,800 followers on social media platform
“AVAX/BTC: I still won’t sleep on the Avalanche here. The chart appears to be at a similar point as in July 2021. I started the year with big gains, followed by months of bleeding before I started tearing up. Be quiet before the storm comes.”
Looking at the chart, traders suggest that AVAX/BTC could break out to 0.0014 BTC ($99.87) in a descending channel, similar to t.The trading pair surged 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.
Next, the analyst predicts that memecoin Dogecoin (DOGE) will make a parabolic breakout against Bitcoin (DOGE/BTC).
“DOGE/BTC: Just bully.”
Looking at the chart, traders suggest that DOGE/BTC could soon surge past 0.00000380 BTC ($0.27). DOGE/BTC is trading at 0.00000227 BTC ($0.16) at the time of writing and has fallen slightly over the past 24 hours.
Traders believe that the altseason will officially begin once Ethereum breaks the key resistance level against Bitcoin (ETH/BTC), which is currently around 0.054 BTC ($3,852).
ETH/BTC is trading at 0.05370 BTC ($3,798) at the time of writing, down 1% over the last 24 hours.
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