There is enthusiasm in the cryptocurrency market today. Leading cryptocurrency Bitcoin exploded and hovered above $42,000. Although altcoins are lagging behind Bitcoin, analysts think their time has come as well. An analyst with a wide following says it is time for a good run for 4 altcoins.
Analyst predicts a 30% rise for this altcoin
As you follow from Kriptokoin.com, the market started the week with great morale. Although Bitcoin retreated a little later, it broke all the obstacles and rose above 42 thousand dollars. Although altcoins have performed relatively poorly for now, their time may have come. The analyst with the pseudonym Rekt Capital says that TRX closed November with an increase after the altcoin price closed above its monthly resistance of $0.10. It is possible that TRX may see short-term declines to turn previous resistance levels into support before moving towards its upside target. However, the analyst puts his further targets higher:
Tron closed above the red for the month. Now potentially setting the price up for a retest of the decline. The $0.10 level previously acted as resistance in late 2021. Now it may retest as support soon. Holding here would position TRX for a revisit of the $0.13 (red) level.
Source: Rekt CapitalMeanwhile, at the time of writing, TRON was trading at $0.104. The altcoin is up around 6% on its monthly chart. Reaching the analyst’s target means an increase of approximately 30% for TRX.
This altcoin is ready to hit the target!
The analyst next looks at Aave (AAVE). Rekt Capital says the crypto asset is bullish and poised to hit its target at $111. In this context, the analyst makes the following statement:
Fantastic 20% up move after successful retest. AAVE could face further upside over time to the $111 level (orange) above.
Source: Rekt CapitalMeanwhile, at the time of writing, AAVE was trading at around $99. While the market is in the green, the altcoin remains in the red zone by around 3.8%.
Rekt Capital, LINK and DOT are on the rise
The analyst also updates his predictions for the decentralized oracle network Chainlink (LINK). Rekt Capital says Chainlink will continue its uptrend as long as it trades above $14.00. In this regard, the analyst makes the following comment:
LINK: Still holding the bottom of the red box as support. In order for Chainlink to continue its upward trend, price stability must continue here.
Source: Rekt CapitalAt the time of this writing, LINK was trading at $15.60. LINK is also among the altcoin projects in the red zone today.
Finally, the analyst takes a look at the interoperable Blockchain Polkadot (DOT). Rekt Capital suggests that the altcoin price has just started its upward trend. In this context, the analyst said, “Polkadot has officially broken away from the main market structure. “Any drop to the top of the formation, if it occurs, would likely fully confirm the breakout of a new macro uptrend.”
Source: Rekt CapitalMeanwhile, at the time of writing, DOT was still trading above Rekt Capital’s diagonal resistance.
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