Renowned crypto analyst Rekt Capital has indicated that there could be a significant correction for Chainlink (LINK), specifically stating that for LINK’s price to rise, the weekly close needs to be above the $14.70 level. The analyst emphasized that LINK requires a weekly close similar to that at the beginning of 2021, noting that the current price is struggling to surpass the upper side of the red box, which may act as resistance.
Rekt Capital also made similar remarks for the decentralized data service Ocean Protocol (OCEAN), stating that for the ongoing rise to continue, the monthly close needs to be above $0.47. Otherwise, he mentioned that the price could fall into the green zone and then enter a consolidation between the green and red boxes.
Finally, commenting on Polkadot (DOT), Rekt Capital pointed out that the altcoin is very close to starting a new long-term bullish trend by quietly surpassing the downward resistance above the $5 level. In a general assessment for DOT, the analyst said, “Polkadot is on the verge of confirming a new macro bull trend.”
In his analyses, Rekt Capital suggested the possibility of a correction for LINK and the need for a significant weekly close. He highlighted that OCEAN and DOT altcoins are ready for potential rises.
The evaluations by Rekt Capital provide important clues about the future price movements of these three altcoins and could contribute to investors’ decision-making processes.