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:
- Vanar Chain (VANRY)
- Injective (INJ)
- Ethereum (ETH)
- Avalanche (AVAX)
- Kadena (KDA)
- Based Brett (BRETT)
Vanar Chain - VANRY/USDT
Since the market-wide crash, VANRY is showing initial signs of potentially developing this Falling Wedge-like market structure.
This still needs to be monitored closely as the Lower Low has just formed and it's not clear if this indeed will be the base of the pattern, especially if the $0.886 blue level were to turn into resistance for example.
However, VANRY is positioning itself for a retest of the blue $0.886 level again and a successful retest here would probably see VANRY challenge the multi-month downtrend (blue) for a potential breakout attempt.
Reject at the blue $0.886 level as resistance however and that Lower Low could be tested to check if it indeed will act as the base of the pattern going forward.
It's still possible during the week that price could slip below this blue level so it'll be worth monitoring until the end of the week.
VANRY needs the Weekly Close above the blue level, just like the one it performed three weeks ago, in order to confirm further upside from here.