Widely followed crypto trader Rekt Capital says Ethereum (ETH) rival Avalanche (AVAX) is positioning itself for another big rally to new price targets.
Rekt Capital tells its 514,000 followers on social media platform
“Avalanche has officially doubled since the Macro Downtrend was successfully retested as support.
Holding the light blue level ($38.57) as support in December could allow a move to ~$60 over time.”
At the time of writing, AVAX is trading at $42.90 and is up over 70% this month.
The trader also has his radar on Dogecoin (DOGE), which has rallied over 200% in recent weeks.
According to Rekt Capital, DOGE is destined for a more upward continuation, and any potential decline below $0.40 would be opportunities for bulls to form positions.
“Dogecoin has executed a bullish Daily Close above key resistance (blue).
Any decline to $0.39 would constitute a post-breakout retest, if at all necessary
Overall, DOGE is well positioned to continue the trend.”
The trader say that the daily close above the $0.39 level would signal a breakout to higher prices for DOGE.
At the time of writing, DOGE is trading at $0.44 and has already closed above Rekt Capital’s confirmation level for a day.
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Generated image: Midjourney