Altcoins
Analyst Predicts Rallies for Altcoin Market, Says Top Memecoin Has Fully Confirmed New Macro Bullish Trend
A closely followed crypto analyst says it’s time for altcoins to rally and predicts a top memecoin will be one of the biggest beneficiaries.
Pseudonymous analyst Rekt Capital tells his 461,000 followers on social media platform a rebound above the $250 billion level.
Based on his chart, the analyst appears to be initially targeting the $315 billion level before hitting old highs near $425 billion.
“Altcoin market cap still holds the $250 billion support, positioning itself for future upward movement via the dark path.”
Source: Rekt Capital/X
Looking at specific altcoins, Rekt Capital says that Dogecoin (DOGE) officially confirmed its macro bullish trend after a healthy retest of the $0.12 level. The analyst’s chart suggests that the next major resistance levels lie at $0.20 and $0.278.
“Dogecoin made a +30% recovery after successfully retesting the confluent support zone which is the blue macro downtrend and the black low range (orange circle area).
The macro downtrend is over.
But this fully confirmed the new macro bullish trend.
Source: Rekt Capital/X
At the time of writing, DOGE is trading at $0.163.
As for Bitcoin (BTC), Rekt said The crypto king has potentially already found strong support around the $60,000 level.
“Seems like it was just an inconvenience
A weekly close like this would confirm this liquidity pool as secure support.
Source: Rekt Capital/X
At the time of writing, Bitcoin is trading at $64,265.
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