A closely watched crypto strategist believes Ethereum (ETH) is gearing up for a big rally next year after a bullish December.
Pseudonymous analyst Rekt Capital tells his 380,300 followers on social media platform
The analyst shares a chart showing ETH retesting $2,274 as support before starting a rally towards $2,791.
“ETH positions itself very well for a bullish month-end in December.”
At the time of writing, Ethereum is trading at $2,302.
The crypto strategist is also keeping a close eye on Ethereum rival MultiversX (EGLD), formerly known as Elrond. Rekt Capital sees EGLD rising to $85.46 after clearing resistance around $60.
“EGLD continues to perform well. First, the reclaimed orange area as support. And then the red area as support. Now follow the black path.
Dips into red = healthy, but may not occur.
At the time of writing, EGLD is trading at $68.83.
The next altcoin on the trader’s radar is fellow Ethereum competitor Near (NEAR). According to Rekt Capital, NEAR could first retest $3.35 as support before breaking out of its immediate resistance at $4.36.
“Declines from $4.36 and can be set for a monthly close below that level.
However, NEAR still remains within this blue-blue range, with room to retest the range low soon.
Stability there could precede a new challenge at $4.36+.”
At the time of writing, NEAR is worth $3.71.
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Generated image: Midjourney