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A widely followed crypto analyst says that three prominent altcoins including Ethereum (ETH) look primed to skyrocket.
In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 519,200 followers on the social media platform X that if the second-largest crypto asset by market cap can maintain a key support level at $3,650, it could rally to $4,000.
“The volatile retest is playing out perfectly. In fact, the retest of the trendline as new support appears to be successful continued stability at the $3,650 region would enable a challenge into $4000 (red).”
Ethereum is trading for $3,790 at time of writing, a 6% increase during the last 24 hours.
Moving on to Ethereum rival Avalanche (AVAX), Rekt Capital says that not only did the altcoin recently spark an unprompted rally, but if it can reclaim its previous all-time high set in March, it could keep surging.
“Avalanche doesn’t care, it just rallied without the need for a retest of $38.57 (blue). Of course, that will remain a natural dipping level on a future retrace. But if AVAX is able to reclaim March 2024 highs (black $54.23), then it could rally higher.”
AVAX is trading for $53.00 at time of writing, a 6.5% gain on the day.
Concluding his analysis with artificial intelligence (AI)-focused altcoin Artificial Superintelligence Alliance (FET), the trader says the token is on the cusp of successfully retesting a critical support zone before moving higher.
“There is the retest of the $1.77 (red) level into new support. FET is showcasing initial signs of a successful retest. History may be slowly repeating itself for FET.”
FET is trading for $1.89 at time of writing, a 2.6% gain during the last 24 hours.
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