November 8, 2023
A closely followed crypto strategist believes that two altcoins may be gearing up for breakouts as digital asset markets continue to show strength.
Pseudonymous analyst Rekt Capital suggests that Polkadot (DOT) is potentially in the midst of confirming a bullish reversal. The current price of Polkadot is $5, showing a 5.4% increase in the last 24 hours. Rekt Capital highlights the importance of DOT reclaiming the downtrend as support to confirm a breakout.
Rekt Capital also mentions that Fetch.ai (FET) is undergoing a retest, which could result in flipping a key resistance level into support. The current price of Fetch.ai is $0.374, with a 6.1% increase in the last 24 hours.
According to Rekt Capital, Chainlink (LINK) is likely to dip to around $11 to retest its previous resistance line, which was recently broken. This retest of the macro downtrend as support may be necessary to confirm further trend continuation to the upside. Chainlink is currently trading at $13.95, showing a significant increase of more than 93% in the last 30 days.
In conclusion, Polkadot, Fetch.ai, and Chainlink are three altcoins that are showing potential for breakouts. Traders and investors should closely monitor these cryptocurrencies as they navigate the market and consider the insights provided by Rekt Capital.