A widely followed analyst is leaning bullish on layer-1 blockchain Avalanche (AVAX) while offering his forecast for the flagship memecoin Dogecoin (DOGE) and interoperable chain Polkadot (DOT).

The analyst pseudonymously known as Rekt Capital tells his 518,000 followers on the social media platform X that Avalanche witnessed a strong November.

“Avalanche performed a historically bullish monthly close above the light blue level of $38.57.

Any dips [below $38.57] in the future would be a retest attempt, in a very similar fashion to the retests from Sept 2021 and March 2024 (green/orange circles).”

Based on the trader’s chart, he seems to suggest that AVAX tends to rally after retesting $38.57 as support.

Avalanche is trading at $51.14 at time of writing, up over 12% in the past day.

Next up is Polkadot. The widely followed analyst says the 17th-largest crypto asset by market cap also recorded a “bullish monthly close” to reach a level last witnessed in April.

“DOT is also showing very early signs of retesting this level [at around $8.61] into new support.

DOT needs to continue doing this to enable further upside.

Price stability at $8.61 = crucial.”

Polkadot is trading at $10.24 at time of writing, up nearly 7% in the last 24 hours.

As for Dogecoin, Rekt Capital notes the flagship memecoin has broken out from the upper boundary of an ascending triangle pattern that had formed on the daily time frame. In technical analysis, an ascending triangle breakout is considered bullish.

“Any dips into the top of the pattern [at around the $0.43 level], if needed, would constitute a post-breakout retest to confirm the breakout.”

Dogecoin is trading at $0.421.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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After staging a massive rally, the Dogecoin price is currently in a consolidation phase. And this is also reflected in the technical indicators. Crypto analyst Kevin (@Kev_Capital_TA) is warning of a potential sell indicator. In his latest update on X, Kevin shared a weekly DOGE/USDT chart and outlined technical signs that traders should monitor closely.

Dogecoin Price Analysis

Kevin highlighted that Dogecoin is “printing a sell signal on the weekly time frame with the red dot appearing,” cautioning that this signal requires confirmation over the next week to solidify its validity. He identified a convergence of three strong technical indicators, including a declining Moving Average Convergence Divergence (MACD) and a Stochastic Relative Strength Index (Stoch RSI) that has “topped out waiting for a bear cross.”

These indicators collectively suggest that a potential downside may be imminent. However, Kevin balanced this with the observation that “price action still looks bullish and money flow is also bullish,” indicating that these factors currently outweigh the bearish signals.

Despite the long-term sell signals, Kevin remains open to the possibility of continued bullish momentum in the short term. He noted that Dogecoin has “close[d] its highest monthly candle body close of all time,” marking a significant milestone while acknowledging that “downside is still a risk.”

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Looking ahead, Kevin pointed to the importance of a key resistance level, stating, “Until we break $0.60 cents cleanly then there’s nothing to really be excited about,” in reference to his weekly chart that includes Fibonacci price levels extending to $1.

Moreover, Kevin is closely looking at macroeconomic factors that could influence Dogecoin’s performance. He indicated that an “altcoin season” could serve as a catalyst for DOGE’s continued strength, contingent upon Bitcoin’s dominance falling below the 55% level. “If BTC Dominance breaks the 55% level cleanly you will get your #ALTSEASON folks,” he explained.

Additionally, Kevin shared his strategy regarding long-term moving averages, stating, “When these two long term moving averages cross on Dogecoin I will be selling a large piece of my bag. They have called the top successfully on DOGE multiple times. They are moving up fast!”

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Notably, the crypto analyst is referring to the Pi Cycle Top Indicator for Dogecoin, a tool traditionally used for Bitcoin (BTC). This indicator relies on the crossing of two moving averages—the 111-day and the 350-day multiplied by two—to signal potential market peaks.

Last week, Kevin revealed, “One of my secret indicators for Dogecoin that is traditionally only supposed to work for BTC is the Pi Cycle tops indicator. It has accurately called every DOGE cycle top and bottom over each of its cycles. When the two moving averages cross along with Monthly RSI being at a certain level that’s when I plan on taking significant portions out of the market.”

At press time, DOGE traded at $0.41.

Featured image created with DALL.E, chart from TradingView.com

A crypto strategist known as a “Master Trader” on the digital asset exchange Bybit believes three altcoins are gearing up for more rallies.

Pseudonymous analyst Bluntz tells his 299,900 followers on the social media platform X that Dogecoin (DOGE) looks poised to witness fresh bursts to the upside after respecting support at around $0.36.

“You didn’t get bored of DOGE and leave to go chase the newest shiny thing did you?

Things are about to get fun again, in my opinion.”

At time of writing, DOGE is trading for $0.432, a 3.45% increase in the past 24 hours.

Turning to fellow memecoin Pepe (PEPE), Bluntz believes that the altcoin is back to bullish mode after breaching its diagonal resistance.

“PEPE downtrend memeline officially broken.”

At time of writing, PEPE is worth $0.0000209, a 2.7% surge in the past day.

As for the native asset of the Solana (SOL)-based decentralized exchange (DEX) aggregator Jupiter (JUP), the crypto strategist thinks the altcoin is primed to move higher after shattering a diagonal resistance.

“JUP breaking out, the Santa rally is gonna be lit this year.”

At time of writing, JUP is trading at $1.14, a marginal decrease in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney