Altcoin Market Update

Hello and welcome back to the Rekt Capital Newsletter.

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

• Arweave (AR)
• Coti (COTI)
• Avalanche (AVAX)
• Kyber Network (KNC)
• Bitcoin Cash (BCH)
• Theta Token (THETA)

Arweave - AR/USDT

Last week, we spoke about how AR was downside deviating below its Macro Downtrend as part of a Macro Retest, with scope for finishing the month as a downside wick.

Here is last week's analysis:

And here is today's analysis:

Arweave has recovered +31% to the upside after deviating below the Macro Downtrend and is right back above it, having produced a long downside wick in the end.

AR is now therefore positioning itself for a positive Monthly Close to essentially confirm a successful Macro Retest of the Macro Downtrend as new support.

This retesting has been taking place for three straight months now.

More, with this recent successful retest, AR has returned into the Monthly Bull Flag as well, finding its way above the base of the flagging pattern.

Monthly Close just like this and this will confirm not just a successful retest of the Macro Downtrend but a successful reclaim of the Monthly Bull Flag which could entail a future breakout to challenge the $43 (black) highs again.

Coti - COTI/USDT

Last week we spoke about how COTI needed to make significant strides to reclaim the light blue area as new support going into July.

COTI has rebounded but not enough thus far:

However, there is potential for COTI to at least Monthly Close inside the light blue area which could be enough to classify this recent downside deviation below it as a retest attempt.

Ideally, a Monthly Close above the light blue box would remove all doubt when it comes to a successful retest but a Close inside the box may just be enough to preserve the box as support.