This summary text is fully AI-generated and may therefore contain errors or be incomplete.
A well-known crypto analyst, Rekt Capital, is delving into the altcoin markets, with a particular focus on the interoperability blockchain Polkadot (DOT). Rekt Capital notes that the overall market for altcoins is approaching a market cap last seen in August 2022, which they consider a historic retest for the Altcoin Market Cap. In terms of Polkadot, Rekt Capital highlights that the platform is currently undergoing a retest of its macro market structure to confirm a breakout. They further explain that Polkadot is in the process of breaking its Falling Wedge resistance, and a monthly close above this pattern is crucial for bullish sentiment. Rekt Capital suggests that this retesting phase is necessary for Polkadot to secure a monthly close above the pattern top, and a dip in December could still be part of a monthly retest to fully confirm the breakout. Overall, Rekt Capital believes that Polkadot is slowly preparing itself for a macro uptrend. At the time of writing, DOT is valued at $5.27, showing a 2.4% increase for the day.