Analyst Says One Altcoin That Rallied 278% Last Week Could Be Showing Crypto the Way – Here’s His Forecast

The recent surge in the altcoin market, particularly the 278% rally of SuperRare's native token (RARE), has caught the attention of the pseudonymous analyst Capo. Known for his accurate prediction of the 2022 crypto collapse, Capo believes that RARE's impressive performance could be a harbinger of a broader market recovery for altcoins.

Capo's analysis suggests that if the market cap for all crypto assets excluding the top 10 digital assets and stablecoins (tracked by the index OTHERS) breaks through a resistance level of approximately $257 billion, it could trigger a bullish continuation for the altcoin market. As of now, OTHERS is trading at $188.174 billion, indicating there is still some way to go before reaching the critical resistance level.

In addition to his insights on altcoins, Capo has also shared his perspective on Bitcoin (BTC). His chart analysis indicates that Bitcoin could rally to a liquidity zone between $75,000 and $80,000. Currently, Bitcoin is trading at around $58,444, down slightly by nearly 2% for the day.

Capo's forecast suggests optimism for both the altcoin market and Bitcoin, with potential significant gains on the horizon if key resistance levels are breached. However, as always in the volatile crypto market, these predictions should be approached with caution and further confirmations are awaited.

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