Well-known cryptocurrency trader Rekt Capital states that Avalanche (AVAX), a competitor to Ethereum (ETH), is preparing for another significant surge to new price targets.
Rekt Capital informed its 514,000 followers on the social media platform X that AVAX has transformed the $38.57 level from a resistance level to a new support level, potentially allowing it to rebound to price areas not seen since March of this year.
Since successfully retesting the macro downtrend as support, Avalanche's stock price has officially doubled.
As December approaches, maintaining the light blue level ($38.57) as support could push the price up to around $60 over time.
At the time of writing, AVAX is trading at $42.90, having risen over 70% this month.
The trader is also keeping an eye on Dogecoin (DOGE), which has risen over 200% in the past few weeks.
According to Rekt Capital, DOGE is destined to continue rising, and any potential drop below $0.40 would be an opportunity for bulls to accumulate.
The daily closing price of Dogecoin is consistently above the key resistance level (blue).
If necessary, any drop to $0.39 would constitute a retest after a breakout.
Overall, DOGE has good conditions to continue its trend.
Traders indicate that a daily closing price above $0.39 would constitute a breakout for DOGE's price.
At the time of writing, DOGE is trading at $0.44 and has closed above the confirmation level set by Rekt Capital.
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