Crypto Analyst Says Ethereum (ETH) and Two Other Altcoins 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

A popular crypto analyst is now keeping a close eye on three top altcoins, including Ethereum (ETH), which he believes are poised to skyrocket.

In a new strategy session, the pseudonymous crypto trader known as Rekt Capital updates his 519,200 followers on the social media platform X, stating that if the second-largest crypto asset by market capitalization 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).”

At the time of writing, Ethereum is trading at $3,790, up 6% over the last 24 hours.

Moving on to Ethereum rival Avalanche (AVAX), Rekt Capital notes 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 at $53.00 at the time of writing, up 6.5% on the day.

Concluding his analysis with the 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 at $1.89 at the time of writing, up 2.6% during the last 24 hours.

A.I.-Generated Image: Midjourney