A widely followed crypto analyst says three well-known altcoins, including Ethereum (ETH), appear primed for a rapid rise.

In a new strategy session, pseudonymous crypto trader Rekt Capital shares with his 519,200 followers on the social media platform

“The volatile retest is going perfectly. In fact, as new support appears successful, a retest of the trendline would allow continued stability in the $3,650 area to enable a challenge towards $4,000 (red).”

Ethereum is trading at $3,790 at the time of writing, up 6% in the last 24 hours.

Looking at Ethereum competitor Avalanche (AVAX), Rekt Capital says that not only did the altcoin spark an unexpected rally recently, but it could also continue to rise if it can reclaim its previous all-time high from March.

“Avalanche doesn’t care, it just rose without needing to retest $38.57 (blue). Of course, even if there is a future decline, this will remain a natural decline. But if AVAX is able to recapture the March 2024 highs (black $54.23), then it could continue to rise.”

AVAX is trading at $53.00 at the time of writing, up 6.5% on the day.

Concluding his analysis with artificial intelligence (AI)-focused altcoin Artificial Superintelligence Alliance (FET), the trader says the token is on the verge of successfully retesting a critical support zone before moving higher.

“There is a retest of the (red) $1.77 level towards new support. FET shows early signs of successful retest. History could slowly repeat itself for FET.”

At the time of writing, FET is trading at $1.89, up 2.6% in the last 24 hours.

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