Pseudonymous analyst Rekt Capital highlighted on social media platform X that the altcoin market is currently being overlooked by many traders. He suggests that the ongoing downward trend could create a favorable environment for altcoins to surge, indicating that significant movements may occur in the altcoin market in the coming weeks.
Market Sentiment and Altcoins
Rekt Capital expresses that the current bearish trend is setting the stage for altcoins to rise, with many traders standing on the sidelines. The analyst emphasizes that the altcoin market could experience crucial volatility in the near future.
Importance of February
The analyst underscores that February has historically been strong for altcoins in 2023 and 2024, raising the question of whether this trend will persist for a third consecutive year. He notes that before a potential surge in altcoins, they may approach their lowest hype levels.
Solana’s Situation
In an analysis of Solana 
$239 (SOL), Rekt Capital notes that SOL has turned a strong resistance level into a support level, closing the previous trading week around 252 dollars.
