Altcoin Market Update

Features analysis on Altcoins such as ETH DOGE COTI AVAX THETA 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)
  • Kyber Network (KNC)

Ethereum - ETH/USD

Ethereum has Weekly Closed below the green $3956 level which means that this level is still acting as resistance.

What ETH needs to do is to Weekly Close above the green level, much like it did in mid-2021, to continue its momentum.

If ETH isn't able to do that this week, then there's scope for downside from here, maybe even into the orange boxed region where the blue circle resides; this blue circle represents a historical retest point.

In mid-2021, ETH needed to perform this blue circled retest to move higher.

At this stage it seems difficult to envisage that ETH could drop that much following its ETF catalyst but if ETH isn't able to reclaim the green $3956 level, then there will always be a threat of rejection and the next major support would be that orange boxed area for a historical blue retest.

Dogecoin - DOGE/USD

DOGE Weekly Closed above the green level which means that price is positioning itself for a possible reclaim of this level.

Dips in towards this level would be a retest attempt in an effort to solidify a base at higher levels to further build on this recent rebound.

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