Analyst Rekt Capital emphasized in a recent report the importance of concentrating on particular cryptocurrencies that have broken their macro downtrends. It is important to note that this break signals the beginning of a new macro rally that may last for some time.
Rekt Capital emphasized the significance of a break in the macro downtrend that dates back to 2021. The analyst speculates that a price breaking out of a macro downturn may indicate the start of a new macro uptrend with a duration comparable to the previous one. This could go on for at least two years.
Five cryptocurrencies that recently broke their macro downtrends and might be preparing for fresh macro uptrends were covered by the analyst. These altcoins, according to Rekt Capital’s analysis, are poised to launch fresh macro uptrends; therefore, investors should closely monitor their price moves.
Altcoin Market Watch: Evaluating Price Movements and Downtrend Reversal
Polygon (MATIC)
One of the altcoins mentioned, Matic (Polygon), presently forms a significant market structure. Whether Polygon breaks out of this macro structure is still up in the air, but the macro downtrend may be coming to an end if a monthly candle closes above a crucial level. As of this writing, Matic’s price is $0.8371.
Polkadot (DOT)
Polkadot (DOT), like Matic, is an altcoin with a significant market structure. Polkadot has demonstrated strength by possibly preparing for a monthly close above a critical level, indicating the possibility of a new macro uptrend. DOT is currently trading in the red and slightly above the $5.96 level.
Solana (SOL)
Another altcoin under consideration is Solana (SOL), which reversed its macro downtrend by creating a range of reaccumulation, pulling back, and then starting a new micro uptrend. As of this writing, Solana’s trading price is $63.53.
Chainlink (LINK)
Chainlink (LINK), the fourth altcoin under consideration, recently broke its macro downtrend. Rekt Capital highlighted how crucial it was for LINK to retake some resistance areas in order to signify the beginning of a new macro uptrend. LINK is a little over the $15 level and is trading in the green.
Avalanche (AVAX)
Avalanche (AVAX), another alternative coin on the list, has broken out of its downtrend and is primed for a new one. Rekt Capital indicated that AVAX could easily break out of its macro downtrend in the near future. As of this writing, AVAX is trading at $27.13.
Takeaways
Rekt Capital’s recent analysis emphasizes the strategic importance of identifying alternative coins that have successfully broken their macro downtrends. This pivotal development signals the start of potentially new macro uptrends that could last up to two years or more. The analysis, which focuses on five altcoins, including Solana (SOL), Avalanche (AVAX), Polygon (MATIC), Polkadot (DOT), and Chainlink (LINK), suggests that these assets are on the verge of entering promising macro uptrends. Investors should keep a close eye on these altcoins as they navigate their respective market structures, as this could indicate a shift toward sustained upward trajectories.
