A popular crypto analyst who continues to build his following with timely altcoin calls says that relief rallies are approaching for Bitcoin (BTC), Ethereum (ETH) and an additional large-cap crypto asset.
The pseudonymous analyst known as Kaleo tells his 509,000 Twitter followers that Bitcoin is currently being greatly affected by sell-pressure in the equities markets.
Kaleo says that he expects Bitcoin to continue trading sideways before shooting out of its range to about the $38,000 level, roughly a 20% rally from current prices.
“Doesn’t look nearly as crazy anymore as it did at $29,000.”
At time of writing, Bitcoin is changing hands at $30,550.
Kaleo also sees Ethereum embarking on a relief rally in the coming weeks and reveals his price target for ETH as well. According to the crypto analyst, he believes ETH is poised to pull off a 26% rally in the short term.
“$2,600 ETH makes sense.”
ETH is currently trading at $2,057.
The veteran crypto trader also has his radar on Binance Coin (BNB), the utility token that powers crypto exchange Binance.
Kaleo says that the Binance Coin/Bitcoin pair (BNB/BTC) is gearing up to print a new all-time high in the coming months.
“BNB/BTC looks like it wants to make an all-time high later this summer.
Pretty impressive strength in a down market.”
At time of writing, Binance Coin (BNB) is valued at $316 and is the fifth largest crypto asset by market cap.
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Featured Image: Shutterstock/Tithi Luadthong
