July 25, 2024
Blockchain News

Crypto Analyst Predicts Bright Future for Chainlink, Dogecoin, and Bitcoin

Crypto Analyst Predicts Bright Future for Chainlink, Dogecoin, and Bitcoin

Widely followed crypto analyst Rekt Capital has optimistic insights on the future of several cryptocurrencies. Currently, Chainlink (LINK) is at the forefront of his attention. Consequently, he shared with his 352,300 followers on social media platform X that LINK displayed commendable resilience. Specifically, it respected its range-high resistance post its price surge in July.

Significantly, LINK witnessed a slump, hitting a low of $5.76 on September 11th. According to the crypto analyst, this figure hovers around the asset’s range-low support. Since that dip, LINK has made an impressive comeback, surging nearly 18%. Hence, it trades at $6.79 as of now. Moreover, Rekt Capital speculates that LINK could climb to its range-high resistance, approximately $8.186. Such a move would represent an additional 20.5% increase.

However, LINK isn’t the only crypto on Rekt Capital’s radar. The analyst observed Dogecoin (DOGE) also upheld its channel resistance during July and August. This top memecoin reached a pinnacle of about $0.082 in late July. However, since then, its trajectory hasn’t been so rosy. It plummeted by over 23.7% and currently trades around $0.0623. Despite this, there’s a silver lining. “DOGE is holding the channel bottom as support thus far. The main market structure remains intact,” he added.

Additionally, Rekt Capital turned its gaze towards the crypto giant, Bitcoin (BTC). He believes BTC’s current trajectory suggests an “early-stage bull market”. Yet, a word of caution follows. Based on 2019 and 2015 market cycle patterns, Bitcoin might see another dip. “Long-term, the outlook is bullish. Mid-term? Over the next seven months, we might see another significant correction. It’s prudent to be prepared if that transpires,” he advises. At this moment, BTC trades at a hefty $26,736.

In conclusion, while the crypto market remains unpredictable, Rekt Capital’s analyses provide valuable insights. Investors and enthusiasts would do well to stay informed and tread with caution.