- Chainlink (LINK) predicted to experience over 20% surge, per analyst Rekt Capital.
- Dogecoin (DOGE) remains stable, sustaining its main market structure.
Chainlink’s Anticipated Ascent
The decentralized oracle network, Chainlink (LINK), often recognized for facilitating smart contracts on blockchains, is on the radar of noted crypto analyst Rekt Capital. He recently shared insights with his expansive 352,300-strong audience on platform X, pinpointing LINK’s potential for a further rally. After observing its impressive rebound in July, LINK’s value dipped to about $5.76 on September 11th, nearing its range-low support. But in a quick turnaround, it experienced an approximately 18% upswing, clocking in at $6.79. Rekt Capital’s prognosis? A potential leap to the range-high resistance level of $8.186, translating to an additional 20.5% hike.
Dogecoin: Holding Firm Amidst Volatility
The enigmatic memecoin, Dogecoin (DOGE), hasn’t been left out of Rekt Capital’s lens. Gaining immense popularity for its origin as a meme and its vibrant community, DOGE reached a commendable $0.082 high towards July’s end. However, it has since encountered a 23.7% decrease, with its current trade value hovering around $0.0623. Despite this dip, the coin’s resilience is evident.
“DOGE is maintaining its channel’s bottom as a support. Its primary market structure remains unshaken,”
remarks Rekt Capital.
Bitcoin: Navigating the Bullish Currents
When it comes to the flagship cryptocurrency, Bitcoin (BTC), its trajectory is under keen observation. Rekt Capital underscores its position in an “early-stage bull market.” Bitcoin, the decentralized digital currency devoid of a central bank or single administrator, often serves as a yardstick for the entire crypto market. As of this analysis, BTC trades at a robust $26,736. But caution is in the air. Drawing parallels with its 2015 and 2019 market cycles, there’s potential for a downturn. Rekt Capital elucidates,
“The long-term horizon remains bullish for Bitcoin. Yet, over the forthcoming seven months, we might witness a significant correction. It’s prudent for market players to be prepared.”
In the dynamic and often unpredictable realm of cryptocurrency, such insights from seasoned analysts offer both clarity and direction for traders and enthusiasts alike.