Rekt Capital shared intriguing bullish predictions for 3 altcoins.
A popular cryptocurrency analyst has expressed a positive outlook for layer-1 blockchain network Avalanche (AVAX) and shared his predictions for Dogecoin (DOGE) and Polkadot (DOT).
The analyst, known pseudonymously as Rekt Capital, told his 518,000 followers on X that Avalanche had a strong performance in November.
“Avalanche broke above $38.57, a historically strong monthly close. Future declines (below $38.57) will be an attempt to retest, much like the tests in September 2021 and March 2024 (green/orange circles),” he said.
Based on the analyst’s chart, AVAX is generally bullish after testing $38.57 as support. Currently, Avalanche is trading at $51.14 at the time of writing and is up more than 12% in the last 24 hours.
Commenting on Polkadot, the analyst noted that this crypto asset, ranked 17th in terms of market value, recorded a “bullish monthly close” and that this level was last reached in April.
“DOT is currently showing early signs of testing new support at around $8.61. Continued movement at this level would allow for further upside. Stability at $8.61 is critical.”
Currently, Polkadot is trading at $10.24 and is up around 7% in the last 24 hours.
Rekt Capital, which also made a prediction for Dogecoin, stated that this popular memecoin has broken out of the upper limit of the ascending triangle pattern formed in the daily time frame and has started to rise. In technical analysis, the breaking of the ascending triangle pattern is usually considered a positive signal.
“If necessary, a drop to the upper part of the pattern (around $0.43) would be a retest to confirm the breakout.”
Stay tuned