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- Crypto analyst, Rekt Capital, identifies a resistance level for Bitcoin (BTC) at approximately $26,000.
- The analyst predicts a potential drop to around $20,000 due to Bitcoin’s struggle to surpass this resistance.
- Rekt Capital also evaluates the current outlook of AI altcoin Fetch.AI (FET), indicating that it is stuck at a certain resistance.
This article provides a detailed analysis by crypto expert Rekt Capital on the current state of Bitcoin and the AI altcoin Fetch.AI, focusing on their resistance levels and potential future movements.
Bitcoin’s Resistance Level: A Trigger for a Potential Drop
Crypto analyst Rekt Capital has highlighted a resistance level for Bitcoin at approximately $26,000. The analyst suggests that Bitcoin is struggling to surpass this resistance, which could potentially trigger a drop to around $20,000. This prediction is based on the weekly time frame analysis of Bitcoin’s performance.
Bitcoin’s Current Trading Position
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As per CoinMarketCap data, Bitcoin is currently trading just above the identified resistance level at $26,353, following a 2.12% increase in the last 24 hours. If Bitcoin’s weekly candle closes at these levels, it could indicate a breakthrough of the resistance. However, Rekt Capital does not anticipate this breakthrough and instead predicts a pullback to approximately $20,000.
Evaluation of AI Altcoin Fetch.AI’s Current Outlook
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Rekt Capital also provided an analysis of Fetch.AI (FET), an AI altcoin on his watchlist. Fetch.AI, which increased its value by over 150% last year, aims to create and facilitate a decentralized digital economy by integrating technologies like machine learning, artificial intelligence, and blockchain. The FET token is used as a payment method for network transactions.
Despite FET gaining over 20% in value in the last month, Rekt Capital suggests that its next price level has been acting as resistance for the past two and a half months. The analyst states that FET is technically locked in a range until the next announcement.
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Conclusion
In conclusion, the crypto market is currently experiencing resistance levels that could potentially impact the future movements of Bitcoin and Fetch.AI. As per Rekt Capital’s analysis, Bitcoin may see a drop to around $20,000, while Fetch.AI is expected to remain in a range until further announcements. Crypto enthusiasts should keep a close eye on these developments to make informed investment decisions.
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