A widely followed crypto analyst believes Ethereum (ETH) and one of its competitors are poised for major recovery rallies.
Pseudonymous crypto trader Kaleo tells his 645,400 followers on social media platform X that Ethereum could soon surge into double digits after testing the $2,100 level and then breaking through a descending trendline.
“Higher $2,100 / lower $2,200, then bounce.”
Looking at his chart, the trader suggests that ETH could surpass $4,000 within a few months, a gain of over 64% from its current value.
At the time of writing, Ethereum is trading at $2,440, down nearly 3% in the past 24 hours.
Next, the analyst says Solana (SOL) could revisit its yearly high after capturing demand near $120.
“Almost there.”
Taking a step back, the trader suggests that Solana could increase by more than 186% from its current value, reaching $370 before the end of the year.
Solana is trading at $129 at the time of writing, down 2.6% in the past 24 hours.
Finally, the analyst says he is also bullish on another Ethereum rival, the layer-1 blockchain Avalanche (AVAX).
He predicts that AVAX could climb to $45 in a few months, a gain of more than 108% from its current value.
“The drop started as expected…I’m still looking to refill the low $20s before the full send.”
AVAX is trading at $21.62 at the time of writing, down 2.3% in the last 24 hours.
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Featured image: Shutterstock/vectorpouch/Vladimir Sazonov
