Altcoin Market Update
Features analysis on Altcoins such as INJ SOL BONK OP VANRY
Hello and welcome back to the Rekt Capital Newsletter.
In today’s edition, the following cryptocurrencies will be analysed & discussed:
- Injective (INJ)
- Solana (SOL)
- Bonk (BONK)
- Optimism (OP)
- Vanar Chain (VANRY)
Injective - INJ/USDT
INJ is showcasing initial signs of reclaiming the black $18 level as support, despite the fake-breakdown from two weeks ago.
Any dips into the black $18 level would be a retest attempt and price stability above $18 is crucial for this early-stage bullish divergence to play out.
The RSI is developing a Higher Low (green) whereas the price action may be developing a Lower Low (blue) to bring about a budding bullish divergence.
Hold $18 (black) as support and INJ could challenge for a revisit of the red $21.68 resistance.
More, the RSI itself may be developing an Ascending Triangle; the green Higher Low is the base of it and the red boxed resistance the top of it.
Breaking the red resistance on the RSI would not only see a breakout on the RSI but it would confirm the validation of the bullish divergence and likely precede upside in INJ's price action.