According to one prominent cryptocurrency analyst, Solana (SOL) may have entered a macro bull trend.
A pseudonymous trader named Rekt Capital told his 483,100 followers on social media platform X that the Ethereum (ETH) competitor had a “weekly candle close circled in green.”
“A successful retest of the red zone with new support could see the uptrend continue over time.”
SOL is trading at $172.20 at the time of writing. The fifth-largest cryptocurrency by market cap is down more than 3% in the last 24 hours, but is up more than 6% over the past week.
Rekt also said that Dogecoin (DOGE), the top meme asset, broke its macro downtrend “a few months ago.”
“And since then, DOGE has been successfully retesting the macro downtrend as new support.
A successful retest here would fully confirm the end of the macro downtrend and the beginning of a new macro uptrend.”
DOGE is trading at around $0.13 at the time of writing. The 9th largest cryptocurrency by market cap is down more than 5% in the last 24 hours, but up more than 3% in the last seven days.
When it comes to Bitcoin (BTC), Rekt argues that “history shows” the leading crypto asset could surge to an all-time high within the next two months.
As of this writing, BTC is trading at $65,676.
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