Renowned crypto analyst Kaleo is confident that a rival of Ethereum (ETH) is poised for significant growth. With a following of 641,800 on X, Kaleo suggests that Avalanche (AVAX) could be on the verge of replicating a bullish trend against Bitcoin (BTC) seen in 2021.

According to Kaleo, AVAX/BTC is currently in a position similar to where it was in July 2021, hinting at potential gains after a period of decline. The trader anticipates a breakout of the descending channel to reach 0.0014 BTC ($99.87), reminiscent of the pair’s surge from 0.0003 BTC in July 2021 to around 0.0025 BTC in December 2021, representing a 733% increase. At present, AVAX/BTC is trading at 0.0005105 BTC ($36.42).

In addition to AVAX, Kaleo also foresees a parabolic breakout for memecoin Dogecoin (DOGE) against Bitcoin (DOGE/BTC). With a message of “DOGE/BTC: you just have to bullieve,” Kaleo suggests that DOGE/BTC could surpass 0.00000380 BTC ($0.27) soon. Currently, DOGE/BTC is trading at 0.00000227 BTC ($0.16).

Kaleo believes that the altseason will commence once Ethereum breaks through the key resistance level against Bitcoin (ETH/BTC) positioned at 0.054 BTC ($3,852). ETH/BTC is currently trading at 0.05370 BTC ($3,798), marking a 1% decrease in the last 24 hours.

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