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Home»ALTCOIN NEWS»Trader predicts a rebound for Ethereum after strong December and updates outlook for two ETH challengers.
ALTCOIN NEWS

Trader predicts a rebound for Ethereum after strong December and updates outlook for two ETH challengers.

By Crypto FlexsJanuary 1, 20242 Mins Read
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Trader predicts a rebound for Ethereum after strong December and updates outlook for two ETH challengers.
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A closely watched cryptocurrency strategist believes Ethereum (ETH) is poised for a big bounce next year after a strong December.

Household analyst Rekt Capital told his 380,300 followers on social media platform

The analyst shares a chart that shows ETH retesting $2,274 as support before sparking an uptrend towards $2,791.

“ETH “We’re really well-positioned for a strong December month-end.”

source: Rect Capital/X

As of this writing, Ethereum is trading at $2,302.

Crypto strategists are also closely watching Ethereum rival MultiversX (EGLD), formerly known as Elrond. Rekt Capital sees EGLD rising to $85.46 after clearing resistance around $60.

“EGLD He continues to perform well. First, the orange area was played as a support. And the red area is the support. Now follow the black path.

Dip into red = healthy but may not happen.”

video
source: Rect Capital/X

As of this writing, EGLD is trading at $68.83.

The next altcoin on traders’ radars is fellow Ethereum competitor Near (NEAR). According to Rekt Capital, NEAR may first retest $3.35 as support before breaking away from immediate resistance at $4.36.

“We reject from $4.36 and may set a monthly close below that level.

However, NEAR still remains within this blue-blue range and there is room for it to test the lower range again soon.

Stability could outpace another challenge at $4.36+.”

video
source: Rect Capital/X

As of this writing, NEAR is worth $3.71.

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