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.
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The post Trader Says Avalanche (AVAX) Setting Up for Massive Rally, Updates Outlook on Dogecoin (DOGE) appeared first on The Daily Hodl.
