Cryptocurrency analyst Rekt Capital has pointed out that Bitcoin’s bear season is gaining momentum and that 29% of the accumulation process has been completed. The analyst has highlighted four altcoins that are ready to explode.
Altcoin Tron (TRX) has signaled a potential pullback to $0.10 by closing above an important resistance level on a monthly basis. It is believed that this level can now act as support and help TRX move towards its $0.13 target.
Although not ideal due to its monthly closing within a technical range, there is potential for a positive change if OCEAN manages to reclaim the high level of December as support. It is expected to happen above this red level on a weekly closing.
Chainlink (LINK) continues to find support at the lower boundary of the red box, and price stability within this range is seen as significant. Preserving this support level is critical for Chainlink to sustain its upward potential.
AAVE experienced a 20% increase after a successful retest, indicating positive market sentiment. The cryptocurrency is poised for further upward potential towards its $111 target in the near and medium term.