Solana

Rekt

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 A widely followed crypto trader is analyzing the up-and-down price activity of Bitcoin (BTC), Solana (SOL) and altcoins in general.
 Pseudonymous trader Rekt Capital&nbsp;tells&nbsp;his 390,400 followers on the social media platform X that BTC is about to face a moment of truth.
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 “Moment of truth for Bitcoin
 Green arrows show good retests of the Range Low as support.
 But this current rebound could turn the old Range Low into new resistance.
 However, a Daily Close above the Range Low &amp; later a one week Close would recover the range.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GExGmmUWsAA23-n?format=jpg&amp;name=large" alt="" width="1063" height="499">
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 Source: Rekt Capital/X
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 BTC is worth $41,952 at time of writing, up 6% in the last 24 hours. According to Rekt Capital, this recent leap will have an&nbsp;impact&nbsp;on the cycle of the altcoin markets.
 “Yesterday the Q1 Altcoin Hype Cycle was doubted.
 Today BTC has moved +3% and suddenly there is new hope.
 The reality is that Bitcoin may very well continue to see-saw in the near-term but it shouldn’t impact your view on what lays weeks ahead.”
 Diving deeper into the altcoin cycle, the analyst shares a graph and&nbsp;asks the question — is altcoin hype about to spike?
 “Is the Q1 Altcoin Hype Cycle slowly getting closer?
 Lowest hype = peak financial opportunity (green)
 Highest hype = peak financial risk (red)”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GExUNboXIAAvGDa?format=jpg&amp;name=4096x4096" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Rekt Capital/X
 </figcaption>
 </figure>
 Looking at one altcoin in particular, Rekt Capital&nbsp;says he expects Solana to dip slightly before continuing its rally.
 “Solana is perfectly following the orange path
 +15% up since the green zone”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GExHKdfXEAEJGe9?format=png&amp;name=large" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Rekt Capital/X
 </figcaption>
 </figure>
 SOL is trading for $93.20 at time of writing, up nearly 9% in the last 24 hours.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-breaks-down-rebounding-bitcoin-btc-solana-sol-and-altcoin-market-cycles-tbt77911.html">https://thebittimes.com/crypto-analyst-breaks-down-rebounding-bitcoin-btc-solana-sol-and-altcoin-market-cycles-tbt77911.html</a>

Crypto Analyst Breaks Down Rebounding Bitcoin (BTC), Solana (SOL) and Altcoin Market Cycles

TheBitTimes

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