In this period where cryptocurrency prices are changing rapidly, investors are trying to predict which digital assets may rise in the future. In this context, cryptocurrency analyst Rekt Capital believes that two altcoins named Polkadot (DOT) and Fetch.ai (FET) are poised for an uptrend. However, he predicts a pullback for Chainlink (LINK). Here are the details…
Polkadot (DOT) stands out as a platform that facilitates the interaction of multiple blockchains with each other. Rekt Capital, DOT’s technical analysis Using it highlights that this altcoin is seeing a positive trend on its price chart. The analyst believes that the altcoin price has the potential to rise in the coming period.
“DOT/USDT: currently at critical resistance of this triangular market structure. Previous retests here resulted in an upside wick beyond crossover resistance, so DOT needs to retrace the downtrend as support to confirm an upside breakout.”
The analyst also shared his positive views on another altcoin called Fetch.ai (FET). Using technical analysis of FET, Rekt Capital believes that this altcoin can break a key resistance level into support. This can be considered a positive signal on the price chart of FET.
“FET: retesting currently in progress.”
NEWS CONTINUES BELOW
Finally, the analyst claims that decentralized oracle provider Chainlink (LINK) will likely drop to around $11 at some point to retest the previous resistance line.
“Previous retests of the monthly macro downtrend have resulted in upward wicks, so a retest of the macro downtrend as support may be necessary to confirm the continuation of the uptrend, especially if there is rejection from the red soon.”
You can follow the current price movement here.