Renowned crypto analyst Kaleo is sharing his prediction with his large following on the social media platform X, suggesting that BNB, a top-10 altcoin by market cap, is gearing up to reach new all-time highs (ATH).

According to Kaleo, BNB, the utility token for the BNB Chain ecosystem, is showing a similar price pattern on the four-hour chart to what it displayed in 2021, leading to new ATHs. He recommends considering adding to positions, especially below $650, based on the current dip.

Price discovery, where a coin reaches levels never seen before in its history, is a term commonly used by crypto traders and analysts. BNB is currently trading at $679, a decrease of over 4% in the last 24 hours.

In his next prediction, Kaleo anticipates Ethereum (ETH) to break out of a descending trendline against Bitcoin (ETH/BTC), potentially causing a surge in layer-1 (L1) Ethereum Virtual Machine (EVM) projects. He highlights the possibility of a significant increase in the Ethereum/Bitcoin ratio, leading to opportunities in alt L1 EVMs.

Kaleo’s chart analysis suggests that ETH/BTC could rise above 0.10 BTC ($6,926). At present, ETH/BTC is trading at 0.053 BTC ($3,689).

Additionally, based on historical data, Kaleo believes Ethereum is in the early stages of the parabolic phase of the market cycle, expressing strong bullish sentiment towards the cryptocurrency.

Ethereum is currently priced at $3,686, showing a 3% decline in the last 24 hours.

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