Altcoin Market Update

Features analysis on Altcoins such as ETH DOGE COTI AVAX THETA VET KNC

Welcome back to the Rekt Capital Newsletter.

In today’s edition of the Rekt Capital Newsletter, the following cryptocurrencies will be analysed & discussed:

  • Ethereum (ETH)
  • Dogecoin (DOGE)
  • Coti (COTI)
  • Avalanche (AVAX)
  • Theta Token (THETA)
  • VeChain (VET)
  • Kyber Network (KNC)

Ethereum - ETH/USD

What a difference a week makes.

Ethereum has performed a phenomenal rally, closely following history in the sense of forming a bottom near the orange circled area much like in mid-2021 before reversing.

In mid-2021 upon reversal, Ethereum needed a Weekly Close above the orange box top followed by a retest in order to continue higher.

While a retest of the blue circle would be healthy on this run, the catalyst is a strong run and so price may not need such a retrace to continue moving higher.

It will continue to be a point of interest just in case, nonetheless.

Generally however, the goal for ETH is to revisit the green $3956 resistance and perform a Weekly Close above it to set itself up for a retest of the green level, much like it did back in late 2021 (green circle).

Dogecoin - DOGE/USDT

Over the past few weeks, we've been discussing DOGE's Macro Downtrend and the Macro Retest of it as new support:

Since then, the Macro Downtrend Retest has been successful but we also discussed how DOGE needed to reclaim the green level to move higher and build on that newfound momentum:

Here's today's update:

DOGE has pressed beyond this green level and any dips into the green level, if at all, would serve in building out a base at these current prices in preparation for further upside.

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