Altcoin Market Update

Hello and welcome back to the Rekt Capital Newsletter.

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

• Fartcoin (FARTCOIN)
• Aptos (APT)
• Bittensor (TAO)
• Solana (SOL)
• Popcat (POPCAT)
• Sui (SUI)
• Avalanche (AVAX)

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.

Fartcoin - FARTCOIN/USDT

In mid-March, we spoke about how FARTCOIN was on the cusp of breaking out from an old ReAccumulation Range:

And since that time, FARTCOIN indeed provided the necessary breakout confirmation to exit its ReAccumulation Range:

Indeed, FARTCOIN Daily Closed above the Range High of $0.37 and post-breakout retested it as support to fully confirm the breakout.

FARTCOIN since rallied +72%, following the blue path perfectly.

But because FARTCOIN wasn't able to break into the orange circled area, it remained inside the $0.37-$0.69 macro range (black-black) and what's interesting is that that forced price to effectively repeat its blue path move once again:

Having performed the necessary post-breakout retest of the $0.37 level (black) as support not once but twice, FARTCOIN is potentially building out a Bull Flagging structure within its $0.37-$0.69 range:

This is the pattern FARTCOIN needs to hold going forward for a chance at challenging for the orange circled resistance in the future.

Aptos - APT/USDT

This past March, APT Monthly Closed below the Macro Range Low of $5.44 (black).

This is the first time that price has Monthly Closed below this level; historically, APT tends to develop bases here in the form of downside wicks for three-month periods.

APT is once again potentially developing a three-month base here as well but for the first time by Monthly Closing below the Range Low.

APT will need to reclaim the Macro Range Low as support (via the green path) to end this Monthly Close as a downside deviation; price needs to do this to avoid a bearish retest here.

More, APT's Daily Bullish Divergence is still something worth watching:

The RSI continues to form Higher Lows (despite the recent downside deviation below it, there's still scope for a reclaim here), meanwhile price action is trying to transition away from Lower Lows into a new Higher Low; it's not clear if this Higher Low will hold as it's early-stage.

But a clear market structure is developing here and a breakout from it would validate the Bull Div and set APT up for a reclaim of the Macro Range Low of $5.44.