Altcoin Market Update

Hello and welcome back to the Rekt Capital Newsletter.

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

• Render (RENDER)
• Ondo (ONDO)
• Pendle (PENDLE)
• Popcat (POPCAT)
• Fantom (FTM)
• Hedera Hashgraph (HBAR)

But before we dive in, this Friday I’ll chart your Altcoin picks in an exclusive subscriber-only TA newsletter and will cover as many as I can

So if you’d like to have an Altcoin charted, feel free to share max. two TA requests each in the comments below.

I’ll chart the Altcoins that get mentioned and ‘Liked’ the most

Click the button below to leave a comment with your TA request!

Let's dive in to today's Altcoin Market Update.

Render - RENDER/USDT

Last week, we spoke about RENDER's key retest:

As per historical tenancies, RENDER was on the cusp of a green circled retest.

Once successful, price would rally higher and RENDER indeed did:

But what RENDER also managed to do is the following...

RENDER, after retesting the black $7.31 level as support as per history, is now retesting the early 2024 support of $7.95 (blue) back into support once again.

So RENDER is ascending level by level, forming higher and higher lows, retesting higher and higher levels as new support.

Continued stability here will see RENDER continue to appreciate to the upside and any downside volatility via wicks would likely continue to solidify the retests of both the black and blue levels.

Stability here is key going forward but technically, RENDER is well-positioned for the moment and long may this continue.

Ondo - ONDO/USDT

Last week, we spoke about ONDO's key retest which could propel price to a challenge for new All Time Highs.

Here's last week's analysis:

Here's today's analysis:

ONDO successfully retested the light blue $0.97 level as support to launch price into the $1.37 resistance (black) and convincingly break beyond it to new All Time Highs and Price Discovery.

ONDO has rallied +80% to +100% since that successful retest.

Of course, with price now in Price Discovery, the logical region for any pullbacks, if at all necessary, would be the final resistance area at $1.37 which acted as resistance, and could figure as support in the future, if need be.

However, as has often been the case with coins breaking to new All Time Highs, most commonly the bullish momentum is simply too strong for post-breakout retests to occur.