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Home»ALTCOIN NEWS»‘The calm before the storm’ – Traders say price action mirrors 2021’s best Ethereum rivals ahead of over 700% rally
ALTCOIN NEWS

‘The calm before the storm’ – Traders say price action mirrors 2021’s best Ethereum rivals ahead of over 700% rally

By Crypto FlexsJune 7, 20242 Mins Read
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‘The calm before the storm’ – Traders say price action mirrors 2021’s best Ethereum rivals ahead of over 700% rally
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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.”

Source: Kaleo/X

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.”

video
Source: Kaleo/X

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).

video
Source: Kaleo/X

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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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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