A closely followed crypto analyst believes that a top-10 altcoin by market cap is about to soar to new all-time highs (ATH).<\/p>\n
Pseudonymous trader Kaleo tells<\/a> his 642,000 followers on the social media platform X that BNB (BNB<\/a>), the utility token for the BNB Chain ecosystem, is mimicking a 2021 price pattern on the four-hour chart that led to new ATHs.<\/p>\n \u201cWhen BNB entered price discovery in the Spring of 2021 it initially had a very similar breakout and retest to the one we\u2019re seeing now. Would look to add heavily on this dip, especially sub-$650 if you get the chance.\u201d<\/em><\/p>\n Crypto traders and analysts refer to price discovery as a situation where a coin trades at levels never seen before in its history.<\/p>\n BNB is trading for $679 at time of writing, down more than 4% in the last 24 hours.<\/p>\n Next up, the analyst predicts<\/a> Ethereum (ETH<\/a>) will break out of a descending trendline against Bitcoin (ETH\/BTC<\/a>), and that could send layer-1 (L1) Ethereum Virtual Machine (EVM) projects soaring.<\/p>\n \u201cReally believe it\u2019s only a matter of time before we see something like this for the Ethereum\/Bitcoin ratio. When it happens, be on the lookout for high ETH beta plays including alt L1 EVMs.\u201d<\/em><\/p>\n Looking at his chart, the analyst suggests ETH\/BTC will soar above 0.10 BTC ($6,926). ETH\/BTC is trading for 0.053 BTC ($3,689) at time of writing.<\/p>\n The trader also says<\/a> that based on historic precedence, Ethereum is in the earlier stages of the parabolic phase of the market cycle.<\/p>\n \u201cHow can you not be bullish here?\u201d<\/em><\/p>\n Ethereum is trading for $3,686 at time of writing, down 3% in the last 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE3<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A closely followed crypto analyst believes that a top-10 altcoin by market cap is about to soar to new all-time highs (ATH). Pseudonymous trader Kaleo tells his 642,000 followers on the social media platform X that BNB (BNB), the utility token for the BNB Chain ecosystem, is mimicking a 2021 price pattern on the four-hour […]<\/p>\n","protected":false},"author":2,"featured_media":319587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-319585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=319585"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319585\/revisions"}],"predecessor-version":[{"id":319589,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319585\/revisions\/319589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/319587"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=319585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=319585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=319585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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