3 hours ago
A closely followed analyst who nailed the pre-halving Bitcoin correction last year thinks altcoins are close to igniting big rallies and outperforming BTC . Pseudonymous analyst Rekt Capital tells his 531,500 followers on the social media platform X that the altcoin market is at a stage where it is being overlooked by most traders. But the trader notes that the prevailing bearish sentiment is setting the stage for altcoins to ignite upside bursts, leaving many traders on the sidelines. “February has been a strong month for altcoins in both 2023 and 2024. Could altcoins enjoy a strong February for the third year in a row? If so, then altcoins should be close to their ‘Lowest Hype’ areas before preceding upside over the coming weeks.” Source: Rekt Capital/X Based on the trader’s chart, he seems to suggest that altcoins are presenting prime entry opportunities for investors before alts top out in April. Looking at Solana, the trader believes that SOL is in the process of flipping a strong resistance level into support after closing the previous trading week at around $252. “Solana has managed to not only reclaim its re-accumulation range but also break out from it. On the cusp of fully confirming a breakout from its re-accumulation range. Just needs a weekly close above $250 followed by a possible post-breakout retest.” Source: Rekt Capital/X At time of writing, SOL is trading for $260, above the trader’s weekly resistance level. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Analyst Says Altcoins Close to Entering ‘Hype Cycle’ Stage That May Trigger Rallies Over Coming Weeks appeared first on The Daily Hodl .
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Altcoins Solana altcoins alts News SOL
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Ethereum Price Stays Flat While Bitcoin Steals the Spotlight with New ATH
Ethereum price remained below the $3,500 resistance while Bitcoin rallied. ETH is consolidating above $3,120 and facing many hurdles. Ethereum failed to gain pace for a close above $3,450 and corrected gains. The price is trading below $3,300 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $3,370 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase if it clears the $3,325 resistance level. Ethereum Price Stuck In A Range Ethereum price started a decent upward move above the $3,300 level but upsides were limited compared to Bitcoin . ETH failed to gain pace for a close above $3,450 and corrected gains. There was a move below the $3,320 and $3,300 support levels. A low was formed at $3,203 and the price is now consolidating losses. There was a minor increase above the $3,240 level. The price tested the 23.6% Fib retracement level of the recent drop from the $3,444 swing high to the $3,203 low. Ethereum price is now trading below $3,300 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,260 level. The first major resistance is near the $3,320 level or the 50% Fib retracement level of the recent drop from the $3,444 swing high to the $3,203 low. The main resistance is now forming near $3,350. There is also a short-term contracting triangle forming with resistance at $3,370 on the hourly chart of ETH/USD. A clear move above the $3,370 resistance might send the price toward the $3,450 resistance. An upside break above the $3,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,500 resistance zone or even $3,550 in the near term. More Losses In ETH? If Ethereum fails to clear the $3,325 resistance, it could start another decline. Initial support on the downside is near the $3,200 level. The first major support sits near the $3,150. A clear move below the $3,150 support might push the price toward the $3,120 support. Any more losses might send the price toward the $3,050 support level in the near term. The next key support sits at $3,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,200 Major Resistance Level – $3,325 The Daily Hodl
Avalanche: Can THIS pattern help AVAX target $60 next?
AVAX consolidates within a symmetrical triangle, signaling a possible breakout toward $60. The Daily Hodl
