Cryptocurrency

Bitcoin

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cryptocurrency-market-analysts-predict-rising-trends/" data-wpel-link="internal">Cryptocurrency Market Analysts Predict Rising Trends</a> 
Following the recent surge in cryptocurrencies, attention has shifted to <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> analysts. The general sentiment among these analysts appears to be optimistic about the rise. In this context, a well-known cryptocurrency analyst mentioned that it is time for altcoins to rise, and a major <a href="https://en.coin-turk.com/the-meteoric-rise-of-memecoin-bonk-despite-fomo-warnings/" data-wpel-link="internal">memecoin</a> will benefit from this situation. 
<h2 style="text-align: justify" id="market-and-doge-analysis-by-the-analyst">Market and DOGE Analysis by the Analyst</h2> 
Rekt Capital, an analyst, informed his thousands of followers on social media platform X that the market value of all cryptocurrencies, except the top 10, is likely to rise above $250 billion as shown in the OTHERS chart. 
The analyst points to the chart he shared, stating that the first target is the $315 billion level before reaching the old high at $325 billion. 
<blockquote> 
 The Altcoin Market Value still holds $250 billion as support, positioning itself for an upward movement through the black path. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-348356" src="https://coin-turk.com/wp-content/uploads/2024/05/rekt-btc-3-coin-turk-com.png" alt="" width="1149" height="810"> 
On the other hand, examining one of the leading meme coins, Rekt Capital confirmed a strong macro bullish outlook after successfully retesting the $0.12 level for Dogecoin (DOGE). 
Looking at the chart shared by the analyst (below), the next notable resistance level is between $0.20 and $0.278. 
<blockquote> 
 Dogecoin, after successfully retesting the combined support area of the blue Macro Downtrend and the black Low Range (orange circle area), achieved a +30% recovery. The Macro Downtrend has ended, fully confirming the new Macro Uptrend. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-348355" src="https://coin-turk.com/wp-content/uploads/2024/05/rekt-btc-2-coin-turk-com.png" alt="" width="1149" height="808"> 
As of the time of writing, DOGE was finding buyers at $0.1557 after a 3.43% drop, while its market cap had fallen to $22.4 billion. 
The 24-hour trading volume saw a 5% increase, reaching $1.7 billion, which could also be interpreted as growing investor interest. 
<h2 style="text-align: justify" id="bitcoin-dollar-chart">Bitcoin Dollar Chart</h2> 
On the other hand, the analyst also commented on Bitcoin (BTC), highlighting a strong support at the potential $60,000 level for BTC, which is at the peak of cryptocurrencies. 
<blockquote> 
 It appears to be just a downward wick. Weekly closures like this will confirm this liquidity pool as a safe support. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-348354" src="https://coin-turk.com/wp-content/uploads/2024/05/rekt-btc-1-coin-turk-com.png" alt="" width="1152" height="812"> 
As of the time of writing, BTC continues to trade around the $63,372 area, approximately 6% above the support level mentioned by the analyst. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/cryptocurrency-market-analysts-predict-rising-trends/" data-wpel-link="internal">Cryptocurrency Market Analysts Predict Rising Trends</a></h5>

Cryptocurrency Market Analysts Predict Rising Trends

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