Rekt Capital, a respected figure among cryptocurrency enthusiasts, has shared insights suggesting positive trends for several digital assets. Specifically, Avalanche (AVAX) appears to be on the verge of a sustained upward movement. The analyst has identified a potential bottom formation around $21.57 on the monthly chart, hinting at brighter prospects for AVAX investors.
What Signals a New Trend for Avalanche?
Rekt Capital revealed on social media that AVAX has successfully retested its macro downtrend as a support level. This development is viewed as a signal for a new macro upward trajectory, marking the end of its previous downward phase. Following this retest, AVAX experienced a notable 29% increase, currently trading at $27.22, a 3.1% rise in just 24 hours.
Can Bitcoin Overcome Its Current Trajectory?
The analyst predicts that Bitcoin (BTC) might soon break through its descending trend line on the weekly chart. This potential shift could lead to a 5% price increase in the near term. By surpassing lower highs established since July’s end, Bitcoin may aim for approximately $67,000 at the top of its descending channel. Additionally, Bitcoin Dominance (BTC.D) is mirroring a 2019 pattern and could rise after a short decline.
FET Coin, a prominent AI altcoin, is also on Rekt Capital’s radar. The analyst foresees an upward movement for FET, with a projected 10% increase to $1.77. Having broken a months-long downtrend, FET seems poised for a retest of resistance at the higher end of its range.
• AVAX could be entering a new macro upward trend.
• Bitcoin may experience a 5% growth if current resistance levels are surpassed.
• FET Coin is predicted to rise by 10% following a significant trend break.
The expert’s analysis provides an optimistic outlook for AVAX, BTC, and FET, suggesting potential investment opportunities. As the charts align with these predictions, investors are encouraged to consider these digital currencies’ upward potential. These insights highlight a moment of hope and opportunity within the cryptocurrency market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
