Widely followed crypto trader Rekt Capital says that Ethereum (ETH) rival Avalanche (AVAX) is positioning itself for another big rally to new price targets.
Rekt Capital tells his 514,000 followers on the social media platform X that AVAX has turned the $38.57 level from resistance to new support that could send it rallying to a price area last witnessed in March of this year.
“Avalanche has officially doubled since successfully retesting the Macro Downtrend as support.
Holding the light blue level ($38.57) as support going into December could enable a move into ~$60 over time.”
At time of writing, AVAX is trading at $42.90 and is up over 70% in this month.
The trader also has his radar on Dogecoin (DOGE), which has printed over 200% rallies in the last few weeks.
According to Rekt Capital, DOGE is destined for more upward continuation, and any potential drops below $0.40 would be opportunities for bulls to form positions.
“Dogecoin has performed a bullish Daily Close above key resistance (blue).
Any dips into $0.39 would constitute a post-breakout retest, if at all necessary
Overall, DOGE is well-positioned for trend continuation.”
The trader says that daily closes above the $0.39 level would constitute a breakout to higher prices for DOGE.
At time of writing, DOGE is trading at $0.44 and has already closed a day above Rekt Capital’s confirmation level.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
