Renowned crypto analyst Kaleo has made a bold prediction, suggesting that a top-10 altcoin by market cap is on the verge of reaching new all-time highs (ATH).

Kaleo, known for his insights in the crypto space, shared with his 642,000 followers on the social media platform X that BNB, the utility token for the BNB Chain ecosystem, is following a price pattern from 2021 on the four-hour chart that could lead to new ATHs.

Drawing parallels to BNB’s previous price discovery in the Spring of 2021, Kaleo advised his followers to consider adding to their positions during the current dip, particularly if the price dips below $650.

Price discovery, as explained by crypto traders and analysts, occurs when a coin reaches unprecedented price levels not seen before in its history. At the time of writing, BNB is trading at $679, reflecting a decrease of over 4% in the last 24 hours.

Looking ahead, Kaleo also made a prediction regarding Ethereum, foreseeing a breakout of a descending trendline against Bitcoin (ETH/BTC), which could result in a surge for layer-1 (L1) Ethereum Virtual Machine (EVM) projects.

He highlighted the potential for the Ethereum/Bitcoin ratio to exceed 0.10 BTC ($6,926) based on his chart analysis. Currently, ETH/BTC is trading at 0.053 BTC ($3,689) at the time of writing.

Moreover, Kaleo emphasized that Ethereum is likely in the early stages of a parabolic phase in the market cycle, prompting a bullish sentiment among investors.

With Ethereum trading at $3,686 at the time of writing, showing a 3% decline in the last 24 hours, Kaleo’s followers are eagerly anticipating the potential for new ATHs in the near future.

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