Altcoin Watchlist

Hello and welcome back to the Rekt Capital Newsletter

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

• Injective (INJ)
• Aerodrome Finance (AERO)
• Aptos (APT)
• Bittensor (TAO)
• Fartcoin (FARTCOIN)
• Virtuals Protocol (VIRTUAL)
• 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.

Injective - INJ/USDT

Last week, we spoke about how INJ had just about broken its Downtrend and was retesting it but need to maintain stability in an effort to breakout to highs we haven't seen in months.

Here's last week's analysis:

And here's today's analysis:

INJ indeed successfully confirmed a breakout beyond the Downtrend to enter a +44% uptrend, breaking comfortably passed the $11.15 resistance and even rallying to the $13.50 resistance (black).

Right now, INJ is hovering just below the $13.50 resistance (black) whereas historically, Weekly Closes above said level followed by retests of it into support have enabled moves to at least $17.22.

INJ will need to reclaim the $13.50 as support and/or Weekly Close above it to repeat green circled price history and rally to $17.22 over time.

Until INJ is able to do that, it will remain located inside the $11.15-$13.50 black-black range and failing to break the $13.50 resistance could see price consolidate here for a while, which could even see a pullback into $11.15 take place as part of that consolidation.

It's clear what the bullish confirmation signal is for INJ - now it's a matter of INJ following through on it and mustering that key Weekly Close.

Aerodrome Finance - AERO/USDT

Last week, we shared some key paths for AERO:

And here's today's update:

AERO has rallied +34% to the upside, following the blue path almost perfectly.

And in fact, AERO has Weekly Closed above the blue $0.71 resistance, which now means that price is in the process of trying to reclaim $0.71 as support in this current Weekly Candle.

The retest is in progress and thus far, it has been a successful one.

Successful retest here and AERO will be able to follow the green path so as to rally across the blue-blue range of $0.71-$0.96.