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Widely followed crypto trader Rekt Capital says that Ethereum (ETH) rival Avalanche ($AVAX) is positioning itself for another big rally to new price targets.
Rekt Capital tells his 514,000 followers on the social media platform X that $AVAX has turned the $38.57 level from resistance to new support that could send it rallying to a price area last witnessed in March of this year.
“Avalanche has officially doubled since successfully retesting the Macro Downtrend as support.
Holding the light blue level ($38.57) as support going into December could enable a move into ~$60 over time.”
At time of writing, $AVAX is trading at $42.90 and is up over 70% in this month.
The trader also has his radar on Dogecoin ($DOGE), which has printed over 200% rallies in the last few weeks.
According to Rekt Capital, $DOGE is destined for more upward continuation, and any potential drops below $0.40 would be opportunities for bulls to form positions.
“Dogecoin has performed a bullish Daily Close above key resistance (blue).
Any dips into $0.39 would constitute a post-breakout retest, if at all necessary
Overall, $DOGE is well-positioned for trend continuation.”
The trader says that daily closes above the $0.39 level would constitute a breakout to higher prices for $DOGE.
At time of writing, $DOGE is trading at $0.44 and has already closed a day above Rekt Capital’s confirmation level.
Generated Image: Midjourney
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