According to one popular crypto analyst, the cryptocurrency Solana (SOL) may be in a macro uptrend.
A pseudonymous trader known as Rekt Capital told his 483,100 followers on social media platform X that rival #BTC (ETH) posted a "weekly candle closing in a green circle.
A successful retest of the red area, which provides new support, could lead to a long-term continuation of the uptrend.
At the time of writing, #SOL is trading at $172.20. The fifth-largest crypto-asset by market capitalization has fallen more than 3% in the past 24 hours, but is up more than 6% in the past week.
The project also claims that top meme asset Dogecoin (DOGE) broke its macroeconomic downtrend "several months ago.
And since then, #DOGE has successfully tested the macroeconomic downtrend as new support.
A successful retest of this level would fully confirm the end of the downward macro trend and the beginning of a new upward macro trend.
At the time of writing, DOGE is trading at around $0.13. The ninth largest crypto asset by market capitalization has fallen more than 5% in the past 24 hours, but has risen more than 3% in the past seven days.
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