A widely followed crypto analyst and trader is predicting one Ethereum (ETH) rival is on the verge of a massive breakout.
The analyst pseudonymously known as Kaleo tells his 626,600 followers on the social media platform X that layer-1 blockchain Avalanche (AVAX) could soar more than 129% from its current value.
“AVAX is about to rip to $100 but you wouldn’t bullieve it.”
Avalanche is trading for $43.52 at time of writing, up nearly 4% in the last 24 hours.
Next up, the trader is turning bullish on layer-2 scaling solution Polygon (MATIC).
“Just looked at the MATIC [daily] chart for the first time in a while and damn. It’s about to run it back to the highs isn’t it?”
Looking at his chart, the trader suggests MATIC is in a bullish trend reversal after breaking out to the upside of a descending trendline.
MATIC is trading for $1.16 at time of writing, up nearly 4% in the last 24 hours.
Lastly, the trader says the native asset of the decentralized exchange (DEX) Injective (INJ) has more upside potential.
“INJ is back to range highs and doesn’t look like it wants to slow down. Send it.”
Looking at his chart, the trader seems to predict INJ will soar more than 71% from its current value to $74.
INJ is trading for $43.05 at time of writing, up more than 9% in the last 24 hours.
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Generated Image: DALLE3
