Altcoin Market Update
Features analysis on Altcoins such as INJ VANRY ETH KDA AVAX BRETT
Hello and welcome back to the Rekt Capital Newsletter.
In today’s edition, the following cryptocurrencies will be analysed & discussed:
- Injective (INJ)
- Vanar Chain (VANRY)
- Ethereum (ETH)
- Kadena (KDA)
- Avalanche (AVAX)
- Based Brett (BRETT)
Injective - INJ/USDT
Last week, we spoke about how INJ could be going for a retest attempt of the black $18.02 level as support:
Here's today's update:
INJ continues to struggle with $18.02 as resistance and it has been this way for the past 3 or so weeks now.
Of course, the bullish divergence idea is still a possibility and with that the Ascending Triangle formation on the RSI itself.
But INJ would need to reclaim the $18.02 level as support to lend further credence to this technical predicament on the RSI and for the bull div to play out successfully over time.
INJ is mimicking BTC in the sense that INJ is struggling to reclaim $18.02 and BTC is suffering the same with its own analogous level of $60600.
As long as BTC succeeds, INJ will too.
The technical predicament for INJ's success is there; INJ just needs BTC to cooperate and lend a hand that would bring both closer to mutual achievement.