Solana (SOL) could be on the verge of a macro uptrend, according to one popular crypto analyst.
The pseudonymous trader known as Rekt Capital tells his 483,100 followers on the social media platform X that the Ethereum (ETH) competitor has performed a “green circled weekly candle close.”
“Successful retest of the red area as new support could enable trend continuation to the upside over time.”
SOL is trading at $172.20 at time of writing. The 5th-ranked crypto asset by market cap is down more than 3% in the past 24 hours but up more than 6% in the last week.
Rekt also says the top meme asset Dogecoin (DOGE) broke its macro downtrend “months ago.”
“And since then, DOGE has been successfully retesting the Macro Downtrend as new support.
Successful retest here would fully confirm the end of the Macro Downtrend and the beginning of a new Macro Uptrend.”
DOGE is trading around $0.13 at time of writing. The 9th-ranked crypto asset by market cap is down more than 5% in the past 24 hours but up more than 3% in the past seven days.
In terms of Bitcoin (BTC), Rekt argues that “history suggests” the top crypto asset could surge to all-time highs in the next two months.
BTC is trading at $65,676 at time of writing.
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