Altcoin Market Update

Hello and welcome back to the Rekt Capital Newsletter.

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

• Dogecoin (DOGE)
• Ethereum (ETH)
• Clearpool (CPOOL)
• Cosmos (ATOM)
• Aptos (APT)
• Popcat (POPCAT)

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.

Dogecoin - DOGE/USDT

In recent weeks, DOGE has pulled back to the extent that it tagged important Monthly levels.

It broke down from the $0.33 level which is the final major resistance before new All Time Highs and it downside wicked into the old Macro Lower High from 2021 at $0.27.

DOGE turned the $0.27 level into support on this pullback and is now trying to reclaim the final major resistance area before new ATHs into support as well.

This is evidenced best on the Weekly timeframe:

DOGE Weekly Closed above the $0.33 level and is dipping to turn it into support.

Continued stability here is essentially to confirming this as a successful reclaim, because otherwise DOGE would slink back into the $0.27-$0.33 range in an effort to establish stability there.

Ethereum - ETH/USD

Is Ethereum forming a potential inverse Head and Shoulders?

It's clear the red area is a major region of resistance, developing just below $4000, with price forming that resistance at a Lower High (blue trendline) which could act as a Neckline to the pattern.

Of course, the Left Shoulder is much more pronounced, clustered, and far more developed.

Also, its terminus point is at the psychological level of $3000 (blue).

And any pullback closer to the $3000 level could see Ethereum develop a Right Shoulder.