Crypto Analyst Says 1,400%+ Price Surge for One Ethereum Rival Not As ‘Crazy as It Sounds’
A widely followed analyst and trader says that an exponential rally for one of Ethereum’s (ETH) biggest rivals could be around the corner. The analyst pseudonymously known as Kaleo tells his 651,800 followers on the social media platform X that the price action of Avalanche (AVAX) over its first four years mirrors Ethereum’s during the same timeframe. “If similar price action continues to play out, an upside target of $400 AVAX isn’t as crazy as it sounds.” Source: Kaleo/X Source: Kaleo/X Avalanche, which is trading at $26.19 at time of writing, would have to go up by 1,427% from the current level to reach $400. However, Kaleo says that Avalanche and Ethereum have some differences despite their price action mirroring each other’s at similar periods of their lifetime. “ETH didn’t have a similar level of competition for capital from other layer-one ecosystems as AVAX has currently. Conversely, there’s more capital in the...