A closely followed analyst who accurately predicted the pre-halving Bitcoin correction last year believes that altcoins are on the verge of significant rallies and may outperform BTC.

The pseudonymous analyst Rekt Capital informs his 531,500 followers on the social media platform X that the altcoin market is currently being overlooked by most traders. However, the trader notes that the existing bearish sentiment is creating an environment conducive to altcoins experiencing upward movements, leaving many traders on the sidelines.

“February has been a strong month for altcoins in both 2023 and 2024.

Could altcoins enjoy a strong February for the third year in a row?

If so, then altcoins should be close to their ‘Lowest Hype’ areas before experiencing upward movements in the coming weeks.”


Source: Rekt Capital/X

Based on the trader’s chart, he appears to suggest that altcoins are presenting prime entry opportunities for investors before they peak in April.

Focusing on Solana, the trader believes that SOL is in the process of converting a strong resistance level into support after closing the previous trading week at around $252.

“Solana has managed to not only reclaim its re-accumulation range but also break out from it.

It is on the verge of fully confirming a breakout from its re-accumulation range.

It just needs a weekly close above $250 followed by a possible post-breakout retest.”


Source: Rekt Capital/X

At the time of writing, SOL is trading at $260, above the trader’s weekly resistance level.

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