A widely respected cryptocurrency analyst says three major altcoins, including Ethereum (ETH), are likely to surge.
In a new strategy session, anonymous cryptocurrency trader Rekt Capital told his 519,200 followers on social media platform said.
“The erratic retest is going perfectly. In fact, a retest of the trend line could lead to a challenge for $4,000 (red), with new support maintaining continued stability in the $3,650 area.”
Ethereum is trading at $3,790 at the time of writing, up 6% in the last 24 hours.
Rekt Capital takes a look at Ethereum rival Avalanche (AVAX), saying the altcoin has not only sparked an unexpected rally recently, but could continue its surge if it can regain its previous all-time highs from March.
“The Avalanche don’t care. There was an uptrend without a retest of $38.57 (blue). Of course, this will remain a natural downward trend in future regressions. However, if AVAX can recover its March 2024 high ($54.23 black), it could rise further.”
AVAX is trading at $53.00 at the time of writing, up 6.5% on the day.
Concluding our analysis of artificial intelligence (AI)-focused altcoin Artificial Superintelligence Alliance (FET), traders say the token is well on its way to successfully retesting a critical support zone before heading higher.
“There is a retest of the $1.77 (red) level as new support. FET is showing early signs of a successful retest. History may be slowly repeating itself for FETs.”
FET is trading at $1.89 at the time of writing, up 2.6% in the last 24 hours.
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