Crypto strategists who correctly predicted the Bitcoin (BTC), correction in early this year, believe that a DeFi (decentralized finance) altcoin will soon explode.
Rekt capital, a pseudonymous analyst on social media platform X tells 508,200 of his followers that Pendle’s native asset (PENDLE), the yield tokenization protocol Pendle looks to be poised for a new upward trend.
Analyst shares chart that shows PENDLE successfully retested neckline in an inverse Head and Shoulders pattern. This indicates that altcoins are poised to rise.
Two week ago, PENDLE showed blue resistance.
PENDLE retested the support last week and was successful.
“This week, PENDLE must continue to hold here in order to lift-off.”
Investors pile into an asset without waiting to see if the price returns to recent lows.
PENDLE was trading at $5.04 as of the time this article is written, an increase of over 9% from yesterday.
Rekt believes that SOL will move up after reversing two levels of resistance to support.
“SOL actually has performed a bullish closing weekly.
Why? SOL closed the week above both the red and blue box trendlines, which are confluent resistance areas.
“Looks like the retest after breakout has been successful.”
SOL’s current value is $179.77.
Analyst believes Dogecoin’s (DOGE) price is displaying a positive trend that will lead the memecoin top to its target of $0.20.
Dogecoin successfully tested the red ($0.14) level as support.
Since then, DOGE is up +26%.
“The orange path has been followed perfectly so far.”
DOGE currently trades for $0.175.
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Sources of Images include Pixabay Creative Commons & Midjourney
The post Crypto Analyst Says DeFi Altcoin is Gearing up for Liftoff and Updates on Solana & Dogecoin, may be updated as new information becomes available.
