Analyst Predicts Blue-Chip Altcoin Set to Surge, Updates Ethereum Outlook

A well-known crypto analyst has shared insights on a top-10 altcoin that could soon reach new all-time highs (ATH).

Top crypto analyst shares insights on BNB, Ethereum, and layer-1 projects in a recent analysis. Here's what you need to know.

A renowned crypto analyst has shared his analysis on a top-10 altcoin that he believes could be nearing new all-time highs (ATH).

The analyst, known as Kaleo and with a large following on social media, has observed a price pattern in BNB, the utility token for the BNB Chain ecosystem, that resembles the formation seen in 2021 before BNB went on to hit new ATHs. Kaleo points out that BNB is currently trading at $679, down 4% in the last 24 hours.

According to Kaleo's analysis, a breakout is forming for Ethereum (ETH) against Bitcoin (ETH/BTC) at a descending trendline, which could lead to a surge in layer-1 Ethereum Virtual Machine (EVM) projects.

Based on his chart, ETH/BTC is expected to cross above 0.10 BTC ($6,926) at the time of writing, with the current trading price at 0.053 BTC ($3,689). Kaleo also notes that Ethereum is in the early stages of the parabolic phase of the market cycle.

At the time of writing, Ethereum is trading at $3,686, down 3% in the last 24 hours. Investors are advised to stay informed and monitor price action closely for potential investment opportunities.

This analysis should not be taken as financial advice. Investors should conduct their own research before engaging in high-risk investments in cryptocurrencies. All trading activities carry inherent risks, and individuals are responsible for their decisions.

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