Altcoin Market Update #137

Hello and welcome back to the Rekt Capital Newsletter

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

• Ethereum (ETH)
• Avalanche (AVAX)
• Chainlink (LINK)
• Stellar (XLM)
• Ripple (XRP)
• Render (RENDER)

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

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

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

Ethereum – ETH/USD

Ethereum is rebounding from its multi-year uptrend (green trendline), and as discussed previously, holding this uptrend was always a possible catalyst for a move back into the green region above.

That rebound is now indeed taking place.

However, the green region is acting as resistance for the time being.

Historically, this region has played a key pivot role across cycles, acting as support in the past, then as lost support and failed support, later as support again throughout the 2024 and 2025 period, and now once more as resistance.

Most recently, Ethereum lost this region as support about a month ago and has since turned it into resistance via an upside wick.

For Ethereum to shift this structure, price would need to Monthly Close above the green region and turn it back into new support.

Until then, the region remains resistance.

And if it continues to act as resistance, then it may continue to weigh on price and gradually force Ethereum to lose its multi-year uptrend.

If that multi-year uptrend is lost, Ethereum could revisit the $1.5k region over time.

Avalanche – AVAX/USDT

Avalanche is rebounding from a key support region that previously acted as a base in 2023, where price once rallied strongly.

However, recent interaction with this region has been different. Price has downside wicked into the area, suggesting that buy-side strength may be weakening.

The rebound that followed has been relatively muted, with price already showing rejection behaviour near the top of the range.

As a result, AVAX is currently trading within the $9.20–$10.864 range (black to black, Weekly range), moving between range low and range high without expansion.

If price is able to Monthly Close above $10.864 (black, range high) and retest it as support, then a move higher could develop, with potential for continuation toward $12.68.

But until that confirmation occurs, price is likely to remain within this range.

And what happens if consolidation persists?

If AVAX continues to Weekly consolidate here without upside progression, this could begin to resemble distribution.

In that scenario, $9.20 (black, range low) may gradually weaken as support.

If that level gives way over time, then a breakdown from the range could follow.