A widely followed crypto analyst believes that Ethereum (ETH) and one of its competitors are preparing for major recovery rallies.
Pseudonymous crypto trader Kaleo tells According to its 645,400 followers on social media platform
“High $2,100/low $2,200 then bounces.”
Looking at his chart, the trader suggests that ETH could rise above $4,000 within months, a gain of more than 64% from its current value.
Ethereum is trading at $2,440 at the time of writing, down almost 3% in the past 24 hours.
Then the analyst say that Solana (SOL) could reach its yearly high again after demand was around $120.
“It’s almost time.”
Zoom out, the trader suggests Solana could rise by more than 186% from its current value and reach $370 before the end of the year.
Solana is trading at $129 at the time of writing, down 2.6% in the last 24 hours.
Finally, the analyst say that he is also bullish on another Ethereum rival, layer-1 blockchain Avalanche (AVAX).
He predicts that AVAX could rise to $45 within months, a gain of more than 108% from its current value.
“Dip started as expected…I still want to fill low $20s before full shipping.”
AVAX is trading at $21.62 at the time of writing, down 2.3% in the last 24 hours.
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Featured image: Shutterstock/vectorpouch/Vladimir Sazonov