Top 5 Altcoin Could Explode by 118% After Bitcoins Big Breakout, Says Crypto Analyst

A closely followed crypto strategist believes one top-five altcoin is on the verge of a massive breakout based on a historic pattern against Bitcoin (BTC).

Pseudonymous crypto trader Kaleo tells his 629,500 followers on the social media platform X that Binance Coin (BNB), the native asset of the worlds largest crypto exchange platform by volume, Binance, could soar by 118% from its current value.

“BNB to about $1,300 on this move actually doesn’t sound too crazy. Lines up well with the targets on the BTC ratio chart as well.

Source: Kaleo/X

Looking at his chart, the trader suggests that BNB has entered a bullish trend after breaking out of a descending trendline and could hit $1,300 sometime after June.

BNB is trading for $596.63 at time of writing, up slightly in the last 24 hours. BNB reached an all-time high (ATH) of $686.31 on May 10th, 2021.

Kaleo thinks that BNB is forming a historic pattern in its price action against Bitcoin (BNB/BTC), which his chart indicates has led to massive gains three previous times.

Every major BNB rally has followed the same playbook vs. BTC.

  • Establish base range.
  • Briefly break beneath range (deviation).
  • Reclaim.
  • Giga-send to new ATH. Following this trend, the best place to buy has been on the reclaim, which is where it is right now.

Send it to $1,000.

Image
Source: Kaleo/X

BNB/BTC is trading for 0.008752 BTC ($596.63) at time of writing, up more than 4.5% in the last 24 hours.

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This article was originally reported on The Daily Hodl.