dailyhodl.com
A closely followed crypto strategist believes that Ethereum ($ETH) is gearing up for a big rally next year after a bullish December.
Pseudonymous analyst Rekt Capital tells his 380,300 followers on the social media platform X that Ethereum looks primed for an over 20% surge if it manages to end December above the key resistance level of $2,274.
The analyst shares a chart showing $ETH retesting $2,274 as support before igniting a rally toward $2,791.
“$ETH is positioning itself really well for a bullish December monthly close.”
At time of writing, Ethereum is trading for $2,302.
The crypto strategist is also keeping a close watch on the Ethereum rival MultiversX ($EGLD), formerly known as Elrond. Rekt Capital sees $EGLD rallying to $85.46 after taking out its resistance at around $60.
“$EGLD continues to perform well. First, reclaimed orange area as support. And then the red area as support. Following the black path now.
Dips into red = healthy but may not occur.”
At time of writing, $EGLD is trading for $68.83.
The next altcoin on the trader’s radar is fellow Ethereum competitor Near ($NEAR). According to Rekt Capital, $NEAR could retest $3.35 as support first before breaking out of its immediate resistance at $4.36.
“Rejects from $4.36 and may be set for a monthly close below said level.
However, $NEAR still remains inside this blue-blue range, with scope to retest the range low soon.
Stability there could precede another challenge of $4.36+.”
At time of writing, $NEAR is worth $3.71.
Generated Image: Midjourney