Altcoin Market Update
Features analysis on Altcoins such as VANRY INJ FET EDU OP TIA
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)
- Fetch ai (FET)
- Open Campus (EDU)
- Optimism (OP)
- Celestia (TIA)
Vanar Chain - VANRY/USDT
Over the past few weeks, we've been covering VANRY from when it was still consolidating inside its Downtrending Channel (blue):
Here's today's update on VANRY:
VANRY followed through on the green path but the most important thing is that price has Weekly Closed above the Macro Downtrend (black) last week.
As a result, VANRY is in the process of a post-breakout retest to fully confirm the end of the Macro Downtrend and the beginning of a new Macro Uptrend.
Retest is in progress and a successful retest would see price enter trend continuation to the upside.
Injective - INJ/USDT
A few weeks back, we spoke about INJ and how it was still consolidating inside its Downtrending Channel (light blue):
Since then, INJ has successfully broken out from the pattern to rally +30% to the Range High resistance ($23.46 orange):
For INJ to continue higher, it would need to reclaim the Range High as support via a Weekly Close above it followed by a retest of it into new support.
But until that happens, INJ will continue to consolidate inside the black-orange range ($18.02-$23.46) which could entail a deeper pullback to at least get close to the top of its breakout structure for a retest.