These 6 Altcoins Turn Macro Bullish and May Soar Soon: Analyst

Renowned cryptocurrency trader and analyst Rekt Capital revealed in a YouTube video that several altcoins appear to be breaking out of a long-term “macro bearish” trend. In the analysis, he predicted that altcoins such as Polkadot (DOT), Avalanche (AVAX), Stellar (XLM), Solana (SOL), as well as THORChain (RUNE) and Polygon (MATIC) may move into new macro bullish trends in the coming months.

The analyst shared that DOT was trying to escape a falling wedge pattern that had formed on its monthly chart. Rekt Capital predicted that the altcoin regaining a position above the chart pattern could give it the necessary foundation to enter a strong bullish move. If this thesis is confirmed, he believes that the price of DOT could rise above $10.

Monthly chart for DOT/USDT (Source: TradingView)

Similarly, AVAX was also trying to break out of a bearish pattern. The analyst stated that the $32 mark is the next major resistance level on the AVAX chart, meaning there is plenty of room for the altcoin to grow. However, he stated that a healthy drop may be necessary for the cryptocurrency’s value to overcome this barrier.

Monthly chart for AVAX/USDT (Source: Rekt Capital)

Ethereum killer SOL was also covered in the analysis as it attempts to establish a position above $60. Rekt Capital believes that SOL has the potential to rise above the psychological point of $60 and could possibly rise as high as $70-100. Rekt Capital shared that a “bullish wick” could form on its monthly chart, presaging the breakout.

Monthly chart for SOL/USDT (Source: TradingView)

According to the analyst, regarding RUNE, MATIC, and XLM, the three altcoins also broke bearish trends on their respective monthly charts. RUNE has the potential to shoot up to $20 in the coming months, while its bullish target for MATIC is the important $1 benchmark.