Altcoin Market Update
Features analysis on Altcoins such as DOGE SOL ETH CPOOL PEPE POPCAT SAI
Hello and welcome back to the Rekt Capital Newsletter.
In today’s edition, the following cryptocurrencies will be analysed & discussed:
- Dogecoin (DOGE) and Solana (SOL)
- Ethereum (ETH)
- Clearpool (CPOOL)
- Pepe (PEPE)
- Popcat (POPCAT)
- Sharpe AI (SAI)
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
Dogecoin is forming a Monthly Bull Flag.
And so is Solana:
In fact, Solana has broken out from its Bull Flag and Dogecoin is probably lagging behind Solana.
Whereas both Solana and Dogecoin are lagging behind Bitcoin's Monthly Bull Flag breakout:
Bitcoin needs a Monthly Close above $96500 to confirm a breakout from its Monthly Flag, whereas Solana needs a Monthly Close above ~$237.
Dogecoin will need a Monthly Close above $0.42 to kickstart a breakout from its own Monthly Flag.
If Bitcoin can position itself for a Monthly Bull Flag breakout...
And Solana can do it...
At which point will Dogecoin try to do it?
Ethereum - ETH/USD
For a few weeks now, I've spoken about how ETH is developing an inverse Head and Shoulders formation:
This continue to remain true, in fact ETH has hammered out its first base for its new Right Shoulder:
There's of course scope for further development of the Right Shoulder.
After all, ETH's Left Shoulder was a cluster of price action that extended for 6 months or so.
I don't think the Right Shoulder would formulate for nearly as long as that, but there is scope for a additional clustering in an around the $3000 level (blue) until price is finally ready to finish up the formation of the Right Shoulder in an effort to curl up to the upside so as to revisit the Neckline for a breakout attempt in the future.