A popular crypto analyst, Rekt Capital, shared their insights on Dogecoin, Polkadot, and FET.
Dogecoin’s Bullish Outlook
Rekt Capital believes Dogecoin (DOGE) is poised for a price surge. The analyst points to an ascending triangle pattern on the DOGE chart, a technical indicator often suggesting a price breakout. A daily close above $0.43 would confirm this breakout, potentially leading to further gains for memecoins in general. At the time of writing, DOGE was trading slightly above this level. Rekt also noted that the broader memecoin market seems to be regaining momentum.
Polkadot’s Crucial Resistance Level
For Polkadot (DOT), Rekt Capital highlights the importance of flipping the $8.60 resistance level into support. A successful retest and subsequent monthly close above this level could trigger a significant price rally, potentially mirroring a similar event in 2021. However, a failed retest, as seen earlier this year, could lead to further price drops. DOT was trading above $8.60 at the time of writing.
FET’s Path to Continued Growth
The analyst also commented on FET, noting that turning the $1.77 resistance level into support is key to sustaining its recent price gains. This would be similar to a successful support flip seen in March 2024. FET’s price was above this level at the time of writing.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions.
