Crypto Analyst Predicts Upcoming Market Rally for Altcoins
An analyst known for accurately predicting the 2022 crypto collapse suggests that a token which surged nearly 280% last week might indicate future trends in the altcoin market.
Capo shared with through Telegram that he is closely monitoring SuperRare’s (RARE) native governance token. Capo points out that RARE’s significant increase from last week’s low of $0.0918 to a high of $0.3476 could hint at what lies ahead for altcoins.
Capo observes that the market is experiencing a correction following a bullish trend, reminiscent of the pattern seen between April and July 2021 before further bullish momentum. He notes that some tokens, like RARE, have already broken their downtrend and experienced notable gains.
Capo suggests this could potentially signal a similar trend for the broader altcoin market, though confirmations are still necessary. He bases his outlook on extensive analysis using various methods and data sources, maintaining a belief in a possible market recovery and a bullish rally for altcoins.
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Polygon to Transition from MATIC to POL on September 4Analyzing Capo’s charts, it appears he predicts that the OTHERS index, which tracks the market cap of all crypto assets excluding the top 10 digital assets and stablecoins, will continue to rise if it breaks through resistance around $257 billion. Currently, OTHERS is valued at $188.174 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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