Rekt Capital highlights a successful support retest on Dogecoin’s monthly chart.
The analyst thinks Litecoin is doing all the “right technical things” to maintain its uptrend.
According to Rekt Capital, Solana has successfully retested the $173 range low level.
The renowned crypto analyst identified as Rekt Capital has spotted a crucial development on Dogecoin’s monthly chart. According to the analyst, the flagship memecoin is retesting the $0.20 level on the monthly chart, coinciding with the retest of the “Orange Bull Flag” on the weekly chart.
$DOGEDogecoin is currently in the retesting phase of the red $0.20 level on the Monthly timeframe And this recent downside wick on the Monthly is essentially a retest of the orange Bull Flag on the Weekly Dogecoin is still following the plan#DOGE #Crypto #Dogecoin https://t.co/NDdRgN8D3I pic.twitter.com/MQGTQLSAxX
— Rekt Capital (@rektcapital) April 7, 2024
Following the latest development, Rekt Capital reiterated that Dogecoin’s price action was inconsistent with his previous prediction and is “following the plan.” The analyst previously highlighted that there could be increased volatility in Dogecoin’s price behavior, noting that it is part of the process.
Rekt Capital thinks Dogecoin will continue to rally, with the next target around $0.27 before pushing toward the $0.33 region. The memecoin recently dropped to $0.167 before reclaiming some losses to trade for $0.2 at the time of writing, according to data from TradingView.
Meanwhile, the renowned analyst spotted some positive developments in Litecoin’s price behavior. He stated that Litecoin is doing all the “right technical things” to maintain its newly confirmed uptrend. Rekt Capital highlighted that LTC has successfully retested the $94 level as new support.
Litecoin’s weekly chart showed the altcoin bounced off a $93.20 low last week before reclaiming the $100 psychological level. LTC traded for $100.63 at the time of writing, with bullish momentum that could trigger a retest of the recent double top between $112 and $115, according to data from TradingView.
In another development, Rekt Capital spotted a price cluster on the Solana weekly chart that could provide a crucial signal for the altcoin. According to the analyst, Solana reflected additional volatility to the downside, successfully retesting the $173 range low level.
He noted that Solana has a chance for the weekly candle to close above the bull flag bottom at $184, confirming a retest of that level. Solana traded for $176 at the time of writing, according to data from TradingView.
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