Altcoins
Analyst Predicts Rally for Altcoin Market, Says Memecoin Has Fully Confirmed New Macro Bullish Trend
A closely followed crypto analyst says it’s time for altcoins to recover and predicts a blue-chip memecoin will be a major beneficiary.
Pseudonymous analyst Rekt Capital tells his 461,000 followers on social media platform billions of dollars.
Based on his chart, the analyst appears to be targeting the $315 billion level initially before an eventual run to old highs near $425 billion.
“Altcoin Market Cap still holds $250 billion as support, positioning itself for a future upward move through the black path.”
Source: Rekt Capital/X
Looking at specific altcoins, Rekt Capital states that Dogecoin (DOGE) officially confirmed its macro uptrend after a healthy retest of the $0.12 level. The analyst chart suggests that the next major resistance levels lie at $0.20 and $0.278.
“Dogecoin recorded a +30% recovery after successfully testing the confluent support area which is the blue Macro Downtrend and the black Range Low (orange circle area).
The bearish macrotrend is over.
But this fully confirmed the new Macro Uptrend.”
Source: Rekt Capital/X
At the time of writing, DOGE is trading at $0.163.
As for Bitcoin (Bitcoin), Rect He says the king of cryptocurrencies has potentially already found strong support around the $60,000 level.
“It seems like it was just a negative wick
A weekly close just like this would confirm this liquidity reserve as guaranteed support.
Source: Rekt Capital/X
At the time of writing, Bitcoin is trading at $64,265.
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