Altcoin Market Update
Features analysis on Altcoins such as UNI THETA COTI CHZ CRO
Welcome back to the Rekt Capital Newsletter.
In today’s edition of the Rekt Capital Newsletter, the following cryptocurrencies will be analysed & discussed:
- UniSwap (UNI)
- Theta Token (THETA)
- Coti (COTI)
- Chiliz (CHZ)
- Crypto Com (CRO)
UniSwap - UNI/USDT
Last week, we spoke about how UNI was positioning itself for a retest of the orange region that it had broke in previous weeks:
Here's today's update:
UNI is now in the process of a retest of this old orange area of resistance into a new source of support.
In early 2022, the green circle showcases how this region figured as a point of rejection whereas this current green circle is to demonstrate how this same price area can flip into a base from which UNI could be able to springboard from in the future.
The Monthly timeframe highlights how this current retest could become a more volatile one:
In early 2022, a retest was in progress back then as well but it failed; nonetheless, that support area showed that price could downside wick quite considerably during the retest.
If UNI is going to perform a volatile retest this time around as well, the black $8.36 would be a region to tag, with scope for even wicking below that, right into the black-black range of $7.21-$8.36.
If the Bitcoin Pre-Halving Retrace continues, then this is a scenario worth keeping in mind.