Ethereum (ETH) rival Avalanche (AVAX) is positioning itself for another big bounce against a new price target, widely followed cryptocurrency trader Rekt Capital said.
Rekt Capital told its 514,000 followers on social media platform
“Avalanche has officially doubled down after successfully retesting Macro Downtrend as a support.
Holding the light blue level ($38.57) with December support could lead to a rise to ~$60 over time.”
As of this writing, AVAX is trading at $42.90 and is up over 70% this month.
Traders also have their radar on Dogecoin (DOGE), which has seen a rally of over 200% over the past few weeks.
According to Rekt Capital, DOGE is set to continue its upward trend and a possible drop below $0.40 would be an opportunity for bulls to form positions.
“Dogecoin performed a bullish daily close above key resistance (blue).
A decline of $0.39 is considered a retest after the breakout, if necessary.
Overall, DOGE is well-positioned to continue the trend.”
The trader said that the price of DOGE will go higher if the daily close breaks above the $0.39 level.
As of this writing, DOGE is trading at $0.44 and has already closed a day above Rekt Capital’s confirmation level.
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