Analyst Who Predicted 2022 Crypto Crash Highlights 280% Surge in RARE Token as Potential Altcoin Market Indicator

An analyst who accurately predicted the 2022 crypto crash has spotted a token that jumped nearly 280% last week. This surge might hint at what’s next for the altcoin market.

The analyst, known as Capo, shares insights with his 100,883 followers on Telegram. He’s focusing on RARE, the governance token of the NFT marketplace SuperRare.

Capo points out that RARE’s rise from $0.0918 to $0.3476 could be a sign of broader trends in altcoins. He states, “We’re seeing a correction after a bullish trend, similar to what happened from April to July 2021 before the market continued to rise. Some tokens, like RARE, have already broken out of this downtrend and shown some interesting price pumps. Now, we need to see if the rest of the market will follow.”

While he emphasizes that confirmations are still necessary, Capo believes there’s a good chance for a market recovery and a bullish rally for altcoins. His analysis uses various methods and data sources to back up his predictions.

Looking at Capo’s charts, he suggests that OTHERS, which tracks the market cap of all cryptocurrencies excluding the top 10 and stablecoins, could see upward movement if it breaks resistance at around $257 billion. Currently, OTHERS is valued at about $188.174 billion.

When it comes to Bitcoin (BTC), Capo shares a chart indicating that Bitcoin could rally to a liquidity zone between $75,000 and $80,000. As of now, Bitcoin is trading at $58,444, down nearly 2% for the day.