Rekt capital, a widely followed cryptocurrency trader, says Ethereum (ETH) rival Avalanche (AVAX() has positioned itself to make a big move up in price.
Rekt Capital told his social media followers, 514,000 in total, on X platform that AVAX had turned $38.57 from resistance into new support. It could be able to send the stock rallying back to a previous price range seen last March.
“Avalanche’s value has now officially doubled after successfully testing the Macro Downtrend.
“Holding on to the level of light blue ($38.57), as support, going into December can allow a movement into about $60 over time.”
AVAX, at the time this article is written, is currently trading for $42.90. This is a gain of over 70% since last month.
Dogecoin is also on the radar of traders.DOGEIn the past few weeks, it has seen an increase of 200%.
Rekt Capital believes that DOGE will continue to rise and that any possible drops below $0.40 could be an opportunity for bulls.
“Dogecoin performed a bullish Daily Close over key resistance (blue).
If necessary, any dips below $0.39 will be considered a retest after the breakout.
DOGE has a good position for the trend to continue.”
A trader says The DOGE price would rise if the daily closing prices were above $0.39.
DOGE’s price is $0.44 at this time and it has already been a full day higher than Rekt Capital’s level of confirmation.
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Source: dailyhodl.com
