Crypto Analyst Analyzes Bitcoin and a Top AI Altcoin and Dives Deep into Ethereum Rival Cardano
A widely followed crypto analyst breaks down Bitcoin (BTC) while keeping an eye on some top altcoin projects.
Pseudonymous crypto trader Rekt Capital tells his 376,600 followers on social media platform X that BTC has overcome its decline from last year.
“This year has completely swallowed up the disadvantages of last year.
A lot can change in a year.”
Source: Rekt Capital/X
Looking to the future of BTC, Rekt Capital believes that the crypto king's price could soon decline slightly.
“A beautiful rejection from the bottom of this green area
BTC failed to close the day within the old range
BTC has also formed a new lower high on the RSI (Relative Strength Index) (red) – a possible sign of weakness.
The price could soon drop to ~$41,200 (black).”
Source: Rekt Capital/X
At the time of writing, BTC is worth $41,792.
Moving on to the top artificial intelligence (AI) altcoin Fetch.ai (FET), the analyst says the altcoin project is up 300% since he first put it on his “Altcoin Watchlist.”
“Up almost 300% since altcoin watchlist.
Now it's trying to break through one of the last resistances before new all-time highs.
A weekly close above red resistance would be bullish.”
Source: Rekt Capital/X
At the time of writing, FET is trading at $0.724, up 35% over the last week.
Finally, the analyst discusses Cardano (ADA) in his altcoin newsletter and says that Cardano is on the way up again.
“ADA has surged +60% on its way to reaching the green resistance above, recently retesting the orange level as support and following the orange path perfectly.
ADA, similar to most of the market, did not offer any deeper drops.
ADA is heading towards green resistance above.”
Source: Rekt Capital/Altcoin Newsletter
At the time of writing, ADA is worth $0.621, up over 11% in the last week.
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