Altcoin Market Update
Features analysis on Altcoins such as UNI THETA COTI CHZ CRO
Announcement - Easter Holiday Content Schedule
With the Easter holiday period just around the corner, I’d like to briefly talk about how this will affect content on the Rekt Capital newsletter.
Here is the Easter Holiday schedule:
- Wednesday 27th of March = Altcoin Watchlist As Usual
- Friday 29th of March = No Coverage (Good Friday)
- Monday 1st of April, 2024 = No Coverage (Easter Monday)
- Wednesday 3rd of April, 2024 = Everything goes back to normal
Therefore please be advised that there will be no newsletter coverage on the 29.03 and 1.04.
Wishing you a restful, peaceful Holiday season
~ Rekt Capital
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
Over the past few weeks, we spoke about an incoming retest of the orange area as new support:
Last week, UNI indeed dropped into the orange area for that retest attempt:
Here's today's update:
UNI has thus far successfully retested the orange area as new support, bouncing +17% from there.
Continued stability above this orange area would be bullish for UNI; it needs to continue holding above the orange area heading into the Monthly Candle Close:
A Monthly Candle Close above the orange area would mean that UNI is getting closer to confirming its positioning within the current macro range which is the orange Range Low and the red Range High at $19.22.
That's why UNI's stability here is so important.
In saying that, while a Monthly Close above the orange area would be bullish, it could still technically set up another pullback into the orange area for another retest.
This isn't a guarantee, especially since the retest has already occurred, but should another occur it would be healthy, normal textbook retesting action on the monthly timeframe; should any dips occur, the dips will figure as this retest.
We've seen successful retesting on the Weekly and if we see the same on the Monthly, that'll only serve as additional confirmation that UNI is ready to traverse across the orange-red macro range over time.