Altcoin Market Update #105

Hello and welcome back to the Rekt Capital Newsletter

In today’s edition, the following cryptocurrencies will be analysed & discussed:

• Aerodrome Finance (AERO)
• Dogecoin (DOGE)
• Solana (SOL)
• Phala (PHA)
• SPX6900 (SPX)

But before we dive in, this Friday I’ll chart your Altcoin picks in an exclusive subscriber-only TA newsletter and will cover as many as I can

So if you’d like to have an Altcoin charted, feel free to share max. two TA requests each in the comments below.

I’ll chart the Altcoins that get mentioned and ‘Liked’ the most

Click the button below to leave a comment with your TA request!

Let's dive in to today's Altcoin Market Update.

Aerodrome Finance - AERO/USDT

Over the past several weeks, we spoke about AERO setting itself up for a retest to pursue one, if not both, of the key outlined pathways.

Here's that late May analysis:

And by mid-June, AERO followed the blue path to completion and even started to pursue the green path, with scope for completing the green path move.

Here's that mid-June analysis:

And finally here's today's update:

AERO completed both the blue path move and green path move for a total of either +79% and/or +34%.

And having rejected from the Range High, AERO has dropped into the Range Low which is now needs to hold as support going forward if it effectively wants to repeat the green path move once again.

Dogecoin - DOGE/USDT

Last month, DOGE upside wicked into the Pre-Halving highs of $0.22, turning that level into new resistance once again.

And since then, price has dropped into the black Range Low of $0.16, even downside wicking into the multi-year uptrend line (black) for a successful retest; in fact, price has successfully retested this long-standing Higher Low twice over the past two months, each time at a Higher Low, following the key trendline well.

In doing so however, DOGE simply maintains a range-bound construction here between $0.16 and $0.22 (black-green) and price stability here should enable a future revisit of the Range High over time.

A key confirmation for a breakout would be to see DOGE Weekly and/or Monthly Close in the blue circle; of course, that looks to be out of the question this June, but if DOGE is able to reverse to the upside across its range in July, perhaps that blue circle confirmation would be a little more feasible.

Just consolidating for now, but the most important technical milestone has been achieved: hold the multi-year technical uptrend and maintain its Macro Range as well.