Rekt Capital’s Analysis
A popular crypto analyst, known as Rekt Capital, has revealed that Avalanche (AVAX), an Ethereum (ETH) competitor, has experienced an extraordinary surge of over 460% in just 90 days. Rekt Capital, who has a substantial following of 378,700 users on the social media platform X, highlighted that Avalanche has achieved a significant breakthrough.
According to the analyst, Avalanche has successfully flipped its macro downtrend from resistance to support, confirming its breakout. However, Rekt Capital didn’t provide a specific price target for AVAX’s upward movement.
Since the retest, AVAX has already climbed an additional 36%, nearing $32. Notably, on October 16th, Avalanche hit a low of $8.65. As of the time of writing, AVAX is currently trading at $47.79, representing an astounding 460% gain over the past three months with a slight decrease in the last 24 hours.
OCEAN: A Promising Project Testing Key Support
Rekt Capital also drew attention to Ocean Protocol’s (OCEAN) data monetization project, stating that it has successfully tested a crucial support level. This accomplishment sets the stage for a potential rally towards the $0.64 mark, which Rekt Capital identifies as a significant resistance point.
After retesting the support area, OCEAN has already witnessed a 20% surge. At present, OCEAN is trading at $0.561, indicating a 1.73% increase in the last 24 hours.
Invest with Caution
It is important for investors to conduct thorough due diligence before engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. Transfers and trades in these markets carry inherent risks, and any losses incurred are the sole responsibility of the individual.