Expert Analyst Warns of Potential Correction for Prominent Altcoins
6:19 pm (1 hours ago)
November 27, 2023
The anonymous crypto analyst Rekt Capital, known for his accurate predictions, has recently evaluated the current status of three altcoins that have caught his attention. The analyst highlighted that the largest Blockchain oracle network Chainlink‘s (LINK) could face a significant correction, and also shared his insights on Ocean Protocol (OCEAN) and Polkadot (DOT).
Critical Level for LINK: $14.70
The anonymous crypto analyst and trader Rekt Capital, on his personal X (formerly known as Twitter) account, mentioned that for LINK to climb higher, it needs to close above the $14.70 level on a weekly timeframe. In his warning about LINK, the analyst said:
“For Chainlink’s price to rise, it needs a weekly close similar to the beginning of 2021. Currently, the price is struggling to break the top of the red box, which could act as resistance against an imminent jump. LINK’s price needs to surpass the upper part of the red box to increase.”
Rekt Capital also drew attention to Ocean Protocol, a decentralized data service that, like LINK, could challenge macro resistance. The analyst indicated that a monthly close above $0.47 could pave the way for OCEAN’s continued rise, stating:
“The monthly close will happen soon and OCEAN is currently trading within a high resistance range (red). A monthly close above red indicates a rise. Otherwise, a fall to the green zone and a retest of the last bottom region will occur, followed by a consolidation within the range of the green-red boxes.”
Polkadot’s DOT “On the Verge of Confirming a Bullish Trend”
Finally, turning to the interoperable Blockchain Polkadot, Rekt Capital noted that the altcoin is very close to entering a brand new long-term bullish trend, having quietly broken through the downward resistance above the $5 level. During his general assessment for DOT, the analyst remarked, “Polkadot is on the verge of confirming a new macro bullish trend.”
- Analyst Rekt Capital reviews three altcoins.
- LINK may face a downturn, needs a key weekly close.
- OCEAN and DOT are poised for potential rises.
