Altcoin Market Update
Features analysis on Altcoins such as TAO APT KAS THETA PYTH XMR
Hello and welcome back to the Rekt Capital Newsletter.
In today’s edition, the following cryptocurrencies will be analysed & discussed:
- Bittensor (TAO)
- Aptos (APT)
- Kaspa (KAS)
- Theta Token (THETA)
- Pyth Network (PYTH)
- Monero (XMR)
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.
Bittensor - TAO/USDT
A few weeks ago, I presented a fractal on TAO:
For the past few weeks, TAO has been occupying a potential Weekly Ascending Triangle but it has been failing to breakout from it, rejected harshly from the top of the pattern and dropping straight into the bottom of the structure.
The idea is that if TAO fails its Ascending Triangle and loses the $350 support then price would drop into the light box area to complete the fractal.
At the moment, TAO has been printing Weekly Closes above the $350 support for 5 consecutive weeks but to maintain this price stability, TAO will need to avoid a Weekly Close below said level.
Aptos - APT/USDT
Despite the Bitcoin retrace, APT continues to maintain itself above the Monthly Range Low of $5.45 (black).
Continued stability above this level going into March would secure a Monthly Close above the Range Low to preserve the Macro Range.
Provided that this Range Low indeed continues to hold, it's worthwhile pointing out how a future retest at a higher level would be necessary to enable trend continuation into the upper half of the Macro Range:
Specifically, APT needs to hold this black Macro Range Low to enable a move to the blue $7.92 over time and Monthly Close above that level to post-breakout retest it into new support to springboard price towards the black Downtrend in the Macro Range.
But first thing is first - preserving the Monthly Range Low.
So far, so good.