Expert Trader Identifies 6 High-Potential Altcoins To Watch
October 18 2023 - 3:00PM
NEWSBTC
In its latest update on October 18, renowned crypto analyst Rekt
Capital has highlighted six altcoins that have caught his
attention, showing potential for the remainder of 2023, Ocean
Protocol (OCEAN), Dogecoin (DOGE), Woo Network (WOO), Verasity
(VRA), Stellar (XLM), and Injective (INJ). Mixed Signals For
Dogecoin Rekt Capital’s analysis suggests a crucial moment for the
Ocean Protocol. Whether the current price deviation will result in
a downside wick below the red channel placed at $0.2763 or if the
price will close below it weekly. Related Reading: Shiba Inu
Burn Rate Takes A Steep Dive: 91% Decrease In 24 Hours While a
downside wick followed by a recovery could lead to a move toward
the Channel Top at $0.3247, a weekly close below the Channel Bottom
would necessitate keen observation for price rejection as new
resistance. On the other hand, Rekt Capital notes that Dogecoin has
been meandering at the bottom of its channel at $0.058890. However,
recent price developments indicate that the potential bullish
divergence in its 1-week chart is likely no longer valid. The
lower low has shifted from support to resistance, confirmed by
price action and a breakdown in the RSI’s trendline. Although a
scenario of DOGE reclaiming its lower low remains possible, Rekt
believes that a more definitive reaction is needed to confirm a
potential fake breakdown. Injective Dominates The Altcoins Market
Woo Network has experienced a relatively subdued quarter compared
to the first half of 2023. Despite the uncertain macro outlook, WOO
Network remains confident in its vision and mission. Notably,
the network successfully negotiated the repurchase of shares and
tokens from the estate of Three Arrows Capital, alleviating
uncertainty for WOO Network’s community and investors. Verasity is
a protocol and product layer platform for esports, video
entertainment, and digital content management. Rekt Capital
acknowledges the breakout from the mid-term downtrend structure in
Verasity’s native token. The token has been establishing
higher lows after reaching a low point on October 4, indicating a
potential shift in momentum. Stellar is a blockchain-based payments
network that facilitates global, efficient digital asset issuance
and exchange. XLM has recently displayed sideways price action,
trading below its 50-day and 200-day moving averages. Nonetheless,
Rekt Capital includes Stellar in their altcoin watchlist,
suggesting it is one to watch. Injective is an open and
interoperable blockchain optimized for DeFi applications, utilizing
the Tendermint PoS consensus mechanism. Rekt Capital highlights the
significant uptrend in INJ’s native token in the past 24 hours and
over the past year, with a remarkable surge of 290%. As Rekt
Capital’s analysis indicates, these six altcoins – OCEAN, DOGE,
WOO, Verasity VRA, XLM, and INJ – have caught the attention of the
crypto analyst. Related Reading: Binance Traders Go Bearish
On Bitcoin, But Here’s Why They Might Regret It While each
cryptocurrency presents its unique opportunities and challenges,
investors and enthusiasts can look forward to monitoring their
performances and assessing their potential for the remainder of
2023. Featured image from Shutterstock, chart from
TradingView.com
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