An extensively followed crypto expert is diving into the altcoin markets and interoperability blockchain Polkadot (DOT) in specific.
Pseudonymous crypto trader Rekt Capital informs their 371,000 fans on the social networks platform X that the total market for altcoins is approaching a market cap last touched around August of 2022.
“Historic retest for the Altcoin Market Cap.”
Source: Rekt Capital/X
Looking particularly at Polkadot, Rekt Capital states the platform dealing with a retest of its own.
“Polkadot remains in the procedure of retesting the top of this macro market structure in an effort to verify the breakout.”
Source: Rekt Capital/X
Rekt Capital dives much deeper still in the current edition of their Altcoin Newsletter. According to the trader, DOT has actually currently started of breaking a down pattern.
“Polkadot remains in the procedure of breaking its Falling Wedge resistance.
Regular monthly Close like this would be a great start to verifying the breakout, specifically considering that there are guaranteeing technical indications of DOT effectively carrying out a retest on the Weekly timeframe of the top of this wedge:”
Source: Rekt Capital/Altcoin Newsletter
According to the trader,
