- A renowned crypto analyst predicts a rally for altcoins and anticipates Dogecoin to be a significant beneficiary.
- The OTHERS chart, tracking the market cap of all cryptocurrencies excluding the top 10, is speculated to bounce off the $250 billion level.
- Dogecoin (DOGE) has confirmed its macro uptrend after a successful retest of the $0.12 level, with next major resistance levels at $0.20 and $0.278.
Renowned crypto analyst predicts a rally for altcoins, with Dogecoin expected to benefit significantly. The OTHERS chart is gearing up for a bounce, and DOGE confirms its macro uptrend.
Altcoins Set for a Rally
A closely followed crypto analyst, Rekt Capital, has told his 461,000 followers on social media platform X that the OTHERS chart, which tracks the market cap of all cryptocurrencies excluding the 10 largest digital assets, is potentially gearing up for a bounce off the $250 billion level. Based on his chart, the analyst targets the $315 billion level before an eventual run to the old highs near $425 billion.
Dogecoin to Benefit Significantly
Looking at specific altcoins, Rekt Capital says that Dogecoin (DOGE) has officially confirmed its macro uptrend after a healthy retest of the $0.12 level. The analyst’s chart suggests that the next major resistance levels sit at $0.20 and $0.278. At the time of writing, DOGE is trading at $0.163.
Bitcoin Finds Strong Support
As for Bitcoin (BTC), Rekt Capital says the crypto king has potentially already found strong support around the $60,000 level. At the time of writing, Bitcoin is trading at $64,265.
Conclusion
The crypto market is showing signs of a potential rally with altcoins like Dogecoin leading the way. Bitcoin also continues to show resilience, finding strong support around the $60,000 mark. As the market dynamics continue to evolve, investors are advised to stay informed and make calculated decisions.
