The post Trader Says Altcoin Market Cap Could Move Higher After Flashing This Signal, Updates Outlook on Cardano and Near appeared on BitcoinEthereumNews.com.

A popular crypto trader thinks the altcoin market cap could be primed to move higher. The pseudonymous analyst known as Rekt Capital shares a chart with his 379,200 followers on the social media platform X that examines the market cap of all crypto projects excluding the top 10 assets. The trader notes that altcoin market cap has historically “increased considerably” when it performed a retest of an area he circled around $182.86 billion. The altcoin market cap has just recently passed through that area. Source: Rekt Capital / X In terms of specific crypto assets, Rekt Capital notes that Ethereum (ETH) challenger Cardano (ADA) is attempting to break out from its short-lived re-accumulation range at recent highs. The analyst says a confirmed breakout means ADA is primed to surge to $0.72. The 8th-ranked crypto asset by market cap is trading at $0.61 at time of writing and is down more than 2% in the past 24 hours. Source: Rekt Capital / X Rekt Capital also says gains could be on the horizon for fellow Ethereum competitor NEAR Protocol (NEAR). “Almost +150% since breaking out from its main pattern. NEAR could rally to $6 if it’s able to reclaim this blue $4.36 level as support before the end of December.” Source: Rekt Capital/ X NEAR is trading at $4.31 at time of writing. The 24th-ranked crypto asset by market cap is up almost 5% in the past 24 hours. Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check Latest News Headlines &nbsp 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…

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Filed under: News - @ December 27, 2023 3:32 pm