Cryptocurrency analysts are continuing to offer their insights, with one analyst sharing important statements about several altcoins, including one meme coin, that could potentially rival Ethereum. These insights are aimed at providing guidance to investors.
The first altcoin discussed is Avalanche (AVAX), which serves as a smart contract platform. The analyst, known as Kaleo, highlighted the potential for AVAX to experience a significant price increase against Bitcoin (BTC). According to Kaleo’s analysis, AVAX/BTC is currently forming a bull flag pattern on the daily chart, indicating a potential price movement to 0.000950 BTC ($62.13).
At the time of writing, AVAX/BTC is trading at 0.000515 BTC ($33.89), experiencing a decrease of over 3% in the past 24 hours.
Moving on to Solana (SOL), also known as the “Ethereum killer,” Kaleo provided an upward chart with larger price fluctuations on the daily chart. Based on this chart, the analyst predicted that SOL would rise against Bitcoin (SOL/BTC) and potentially surpass the 0.0032 BTC ($209) level in the future.
Currently, SOL/BTC is trading at 0.00243 BTC ($160), experiencing an increase of over 3% in the past 24 hours.
Finally, Kaleo offered insights on the future of Dogecoin (DOGE), one of the rising meme coins. The analyst predicts that DOGE will experience a breakout similar to the 2021 model seen with GameStop (GME). However, it should be noted that GME has recently faced pullbacks after a significant price rally.
At the time of writing, DOGE is trading at $0.15, with a slight decrease in the past 24 hours.
It is important to note that the information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research.
