Rekt Capital, a well-known crypto analyst, has shared some intriguing insights on Twitter regarding Chainlink (LINK). Rekt Capital’s recent tweet shows that LINK has experienced a notable rebound of approximately 18% from its range-low support.
LINK Price Bullish Momentum
Chainlink, often referred to as $LINK in the cryptocurrency space, has witnessed a positive turnaround in its price. However, this recent uptick in LINK’s value is capturing the attention of crypto enthusiasts and investors alike, especially after a price surge in July.
In Rekt Capital’s tweet, he believes that LINK can potentially revisit the range-high resistance, which stands at around $8.186. If this reach, it would signify a substantial 20.5% increase from its current value.
Despite dropping to a low of $5.76 on September 11th, LINK has returned impressively. It’s currently trading at $6.81, marking an 18% surge from that low point.
DOGE, Holding Strong Amidst Challenge
Furthermore, Rekt Capital also provides insights into DOGE’s journey. Notably, DOGE respected its channel resistance in both July and August. However, it hit a high of nearly $0.082 in late July and has since experienced a decline, currently trading around $0.0623.
According to Rekt Capital, DOGE maintains the channel bottom as support, and the main market structure remains intact. While DOGE has faced some turbulence, it continues to show resilience.
Bitcoin’s Bullish Outlook with a Warning
Rekt Capital even offers insights into Bitcoin, describing it as being in an “early-stage bull market.” However, he also notes caution, suggesting that Bitcoin may still witness a downward move similar to its 2019 and 2015 market cycles.
Rekt Capital remains bullish on Bitcoin for the long term, but he suggests that over the next seven months, one last major correction may be possible. He advises being prepared for such a scenario.
While cryptocurrency investments come with their own risks, such insights from analysts like Rekt Capital provide valuable perspectives for those closely following the crypto market.