Ethereum, Avalanche and One Additional Altcoin Holding Supports and Gearing Up for More Moves: Rekt Capital

A widely followed crypto analyst says that three prominent altcoins including Ethereum ( ETH ) look primed to skyrocket.

In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 519,200 followers on the social media platform X that if the second-largest crypto asset by market cap can maintain a key support level at $3,650, it could rally to $4,000.

“The volatile retest is playing out perfectly. In fact, the retest of the trendline as new support appears to be successful continued stability at the $3,650 region would enable a challenge into $4000 (red).”

Ethereum is trading for $3,790 at time of writing, a 6% increase during the last 24 hours.

Moving on to Ethereum rival Avalanche ( AVAX ), Rekt Capital says that not only did the altcoin recently spark an unprompted rally, but if it can reclaim its previous all-time high set in March, it could keep surging.

“Avalanche doesn’t care, it just rallied without the need for a retest of $38.57 (blue). Of course, that will remain a natural dipping level on a future retrace. But if AVAX is able to reclaim March 2024 highs (black $54.23), then it could rally higher.”

AVAX is trading for $53.00 at time of writing, a 6.5% gain on the day.

Concluding his analysis with artificial intelligence (AI)-focused altcoin Artificial Superintelligence Alliance ( FET ), the trader says the token is on the cusp of successfully retesting a critical support zone before moving higher.

“There is the retest of the $1.77 (red) level into new support. FET is showcasing initial signs of a successful retest. History may be slowly repeating itself for FET.”

FET is trading for $1.89 at time of writing, a 2.6% gain during the last 24 hours.

Generated Image: Midjourney