Prominent cryptocurrency trader Rekt Capital hints at an impending increase for Avalanche (AVAX) and Dogecoin (DOGE). He suggests that AVAX may return to price points reminiscent of March, showcasing its potential for upward movement.
How Has Avalanche Strengthened Its Position?
Rekt Capital pointed out that AVAX has successfully shifted the $38.57 mark from being a resistance point to a support level. This transition could facilitate a rise to approximately $60 by December.
“Avalanche has officially doubled by successfully retesting the Macro Downtrend.” -Rekt Capital
Can Dogecoin Maintain Its Momentum?
The trader also highlighted Dogecoin’s impressive ascent, noting a surge of over 200% in recent weeks. He believes that if DOGE dips below the $0.40 mark, it might represent a buying opportunity.
“Dogecoin continues its upward trend by closing above a significant resistance level.” -Rekt Capital
At present, AVAX trades at $39.11, reflecting a substantial increase of over 70% this month, while DOGE stands at $0.41, having successfully surpassed the level identified by Rekt Capital. He added that consistent daily closures above $0.39 would further solidify DOGE’s growth trajectory.
- AVAX shows potential to reach $60 by December.
- Dogecoin’s recent rise indicates strong upward momentum.
- Monitoring market trends is vital for traders to make informed decisions.
The dynamics surrounding AVAX and DOGE have spurred notable activity in the cryptocurrency sector. Analysts foresee continued robust performance for these coins in the foreseeable future, encouraging traders to keep a close watch on their movements.
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.
