A well-known crypto analyst suggests that a competitor of Ethereum (ETH) is poised for a significant surge. Going by the name Kaleo, the trader with a massive following of 641,800 on the social media platform X, believes that Avalanche (AVAX) could be on the brink of replicating a bullish trend against Bitcoin (BTC) seen in 2021.

Kaleo shared his insights on AVAX/BTC, stating that Avalanche’s chart resembles a pattern from July 2021. He noted that after a strong start to the year, there was a period of decline before a significant uptrend. The trader hinted at a potential breakout of a descending channel for AVAX/BTC to reach 0.0014 BTC ($99.87), similar to the previous surge from 0.0003 BTC in July 2021 to 0.0025 BTC in December 2021, marking a 733% gain.

Currently, AVAX/BTC is trading at 0.0005105 BTC ($36.42), showing a slight decrease over the past 24 hours. Kaleo also predicts a parabolic breakout for the memecoin Dogecoin (DOGE) against Bitcoin (DOGE/BTC), expressing optimism with the phrase “you just have to bullieve.”

Analyzing his chart for DOGE/BTC, Kaleo anticipates a potential rise beyond 0.00000380 BTC ($0.27). At present, DOGE/BTC is trading at 0.00000227 BTC ($0.16), showing a slight decline in the last 24 hours.

Furthermore, the analyst believes that the start of altseason will be triggered once Ethereum breaks through a crucial resistance level against Bitcoin (ETH/BTC) currently situated around 0.054 BTC ($3,852).

ETH/BTC is currently trading at 0.05370 BTC ($3,798), experiencing a 1% decrease in the last 24 hours. For the latest updates and alerts, readers are encouraged to subscribe and follow The Daily Hodl on X, Facebook, and Telegram for price action insights.

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