Altcoin Market Update #114

Hello and welcome back to the Rekt Capital Newsletter

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

• Aerodrome Finance (AERO)
• Avalanche (AVAX)
• Crypto.com (CRO)
• Hedera Hashgraph (HBAR)
• Solana (SOL)

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

Aerodrome Finance – AERO/USDT

AERO has been consolidating for quite some time throughout its cycle.

First inside the blue path range, then in the green path range-bound construction that enabled the breakout towards the red resistance region.

That resistance has now flipped into new support, making it the foundation for a fresh midterm retesting cluster.

Currently, AERO is range-bound once again, just as it was during the earlier blue and green path consolidations.

This time, the red region acts as the Range Low while the black level at $1.50 serves as the Range High.

This setup mirrors previous consolidations but is slightly wider, which makes this retest particularly important.

Back in late 2024, downside wicks into the red region produced a Higher Low and so if this also continues in this current cluster then this would show that demand continues to absorb selling pressure at this area.

If this same tendency repeats in the current cluster, it would be a constructive sign for continuation towards the $1.50 resistance. 

The main objective will be to secure a Weekly Close above that black Range High and attempt a post-breakout retest, just as AERO demonstrated in late 2024. 

Back then, upside wicks often formed beyond the black Range High Resistance before price revisited the red region for confirmation and last week’s wicks suggest we may be seeing similar behavior again.

Holding stability at the red region is therefore essential. 

Continued clustering here would enable a revisit of the Range High, and a Weekly Close beyond $1.50 would be the next step in confirming AERO’s breakout attempt.

Avalanche – AVAX/USDT

AVAX has been consolidating inside this Macro Wedge for a year and a half now. 

Price has been compressing within this blue wedging structure, slowly building pressure. Right now, AVAX is attempting to Monthly Close above the black level of $23.60.

A successful Monthly Close here would allow price to re-enter the black-to-black range, similar to what we saw previously when such a reclaim enabled a Re-Accumulation structure (green circle) and subsequent expansion across the blue wedge-like pattern.

So far, upside wicks have appeared beyond the $23.60 level (black), highlighting the importance of securing a Monthly Close here to strengthen positioning. 

If that occurs, price could then follow the green path and repeat history, establishing another cluster that sets the stage for expansion across the pattern.

Ultimately, upside wicks beyond the Macro Wedge resistance (blue) have occurred before, but that remains a story for later. 

For now, the focus is on confirming re-entry into the black-to-black range — beginning with a Monthly Close above $23.60, followed by a successful retest.