The cryptocurrency market is witnessing a pullback ahead of the FOMC Minutes. However, the market still has a long way to go. A cryptocurrency analyst with a wide following predicts that 6 altcoin projects will move into new macro uptrends in the next few months. In this context, the analyst says that he has Solana and 5 altcoins on his radar.
Rekt Capital: These 6 altcoins are moving into macro uptrends!
cryptokoin.comAs you follow from , the market continues to ‘back and forth’. After gaining some momentum, a news report turns the direction to the south. However, a popular crypto analyst with the pseudonym Rekt Capital expects strong performance from some tokens. The analyst suggests that Solana (SOL) will rise to $100. Additionally, he sees MATIC likely to climb to $1.
Rekt Capital says several altcoin projects are breaking out of a long-term “macro bearish” trend. The analysis predicts that altcoins such as Polkadot (DOT), Avalanche (AVAX), Stellar (XLM), Solana (SOL), as well as THORChain (RUNE) and Polygon (MATIC) will move into new macro uptrends in the next few months.
Polkadot (DOT): Altcoin price may rise above $10
The analyst says DOT is trying to escape a falling wedge formation forming on its monthly chart. Rekt Capital predicts that the altcoin price regaining a position above the chart pattern will provide the necessary foundation to enter a strong upward move. He predicts that if this thesis comes true, the price of DOT will rise above $10.
Avalanche (AVAX): There is reasonable room for upside
Similarly, according to the analyst, AVAX is also in the process of trying to break out of the bearish formation. The analyst says the $32 level is the next major resistance level on AVAX’s chart. He also notes that this means there is a fair amount of room for the altcoin price to rise. However, he notes that AVAX will likely need a healthy decline to clear this hurdle.
Solana (SOL): $100 possible for altcoin!
The analyst also covers Ethereum killer SOL as it attempts to establish a position above $60. Rekt Capital says SOL has the potential to break higher from the psychological $60 point. He also believes that it could possibly rise to $70-100. Rekt Capital states that an “upward wick” may form on the monthly chart, which will herald a breakout.
Other trio that will rise: RUNE, MATIC and XLM
Regarding RUNE, MATIC, and XLM, all three altcoins broke out of downtrends on their respective monthly charts. According to the analyst, RUNE has the potential to rise up to $20 in the coming months. Rekt Capital’s upside target for MATIC is an important level of $1.
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