A closely followed analyst who managed Bitcoin’s halving correction last year believes altcoins are poised to spark big rallies and outperform BTC.
Pseudonymous analyst Rekt Capital tells his 531,500 followers on social media platform X that the altcoin market is at a stage where it is overlooked by most traders.
But the trader notes that the prevailing bearish sentiment sets the stage for altcoins to trigger bullish surges, leaving many traders on the sidelines.
“February was a strong month for altcoins in 2023 and 2024.
Could altcoins experience a strong February for the third year in a row?
If this is the case, then altcoins should be close to their “lowest hype” zones before experiencing an uptick in the coming weeks.
Based on the trader’s chart, it seems to suggest that altcoins present prime entry opportunities for investors before altcoins peak in April.
Looking at Solana, the trader believes that SOL is turning a strong resistance level into support after closing the previous trading week at around $252.
“Solana managed not only to recover her reaccumulation range, but also to get out of it.
On the verge of fully confirming a breakout of its reaccumulation range.
All it takes is a weekly close above $250, followed by a possible post-breakout retest.
At the time of writing, SOL is trading at $260, above the trader’s weekly resistance level.
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