Altcoin Market Update
Features analysis on Altcoins such as XLM ONDO APT POPCAT AERO HBAR
Hello and welcome back to the Rekt Capital Newsletter.
In today’s edition, the following cryptocurrencies will be analysed & discussed:
- Stellar (XLM)
- Ondo (ONDO)
- Aptos (APT)
- Popcat (POPCAT)
- Aerodrome Finance (AERO)
- 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.
Stellar - XLM/USDT
The Binance Listing Price (green box) has historically been an important reference point for price.
It has served as a strong resistance (pre-2019 and 2022) and it has served as a support (early 2021).
Going forward, any deeper pullbacks should see XLM tag this region for a post-breakout retest of it; this region's significance as a reference point cannot be understated and price has somehow managed to find ways to tag this region as support throughout its history.
Can history repeat in that regard this time around as well?
Ondo - ONDO/USDT
Last week, we spoke about how a post-breakout retest of old All Time Highs would make sense for ONDO while acknowledging that it would be unlikely given how coins simply don't tend to do that once in Price Discovery:
Obviously, ONDO has since offered a post-breakout retest of old All Time Highs into new support, performing a technical feat that is actually quite rare but always worth considering in such predicaments:
ONDO has successfully performed a post-breakout retest, confirmed the old All Time Highs as new support, which should technically confirm further upside going forward.
Once again, as is prudent in such scenarios, it is never a good idea to FOMO into a strong uptrend like this one and is always worth considering another post-breakout retest, though we must recognise that that would be akin to waiting for lightning to strike twice for this coin.