Analyst Predicts Rally for One ETH-Based Altcoin, Forecasts 3 More

A well-known cryptocurrency expert thinks that one token based on Ethereum (ETH) is getting ready for a big jump up.

Pseudonymous analyst Rekt Capital tells his 347,000 Twitter followers that the Ethereum-based supply-chain management blockchain VeChain (VET) seems ready for a recovery after reclaiming both its horizontal and diagonal support levels on the monthly timeframe.

Rekt Capital says that he thinks VET will go up until it hits its next monthly barrier at $0.269.

“Forming a new higher low (black).

And if indeed the June monthly candle closes just like this, it’s possible VET could consolidate via the green path over the coming weeks.

Still needs to confirm the new higher low.”

Source: Rekt Capital/Twitter

At the time this was written, VET was worth $0.18.

Waves (WAVES) is the next one. It is a system for creating tokens and decentralized applications (DApps). Rekt Capital says that WAVES is making a triangle pattern, which could mean that it is close to making a bottom on the monthly chart. Rekt says that the bottom might be proven if WAVES breaks through its support at $2.50.

“May be developing a macro triangle, not yet clear if ascending.

Blue $2.50 resistance may be the breakout point for the triangle.

Breakout would enable a return into the blue-blue range for some 40%-wide consolidation.”

Source: Rekt Capital/Twitter

As of the time this was written, WAVES was worth $2.22.

The trader’s list also has the internet-scale blockchain MultiversX (EGLD), which used to be called Elrond. Rekt Capital says that EGLD was able to stay above $32.54, which is its monthly support. The analyst thinks that MultiversX will go up to around $40 if EGLD bulls keep holding the near support area.

“Great reaction from horizontal support (black).

Continued stability here and EGLD will avoid a breakdown into the range denoted by blue arrows.

More, holding here could enable an EGLD rally to the year-long downtrend (black).”

Source: Rekt Capital/Twitter

At the time of writing, $35.44 is what EGLD is worth.

The fan interaction token Chiliz (CHZ) is the last altcoin that the analyst is keeping an eye on. Rekt Capital says that CHZ is still in a multi-year weak market, but the token could rise to $0.096 as long as it stays above $0.05, which is its immediate support.

“Red multi-year downtrend has been weighing on CHZ.

In fact, it forced a breakdown from blue support.

Now that CHZ has found support at black below…

CHZ could try to rally to blue to check if it will become new resistance.”

Source: Rekt Capital/Twitter

At the time this was written, CHZ was worth $0.08.

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