Every Friday, I share an Altcoin Newsletter which features my TA on 8 Altcoins.
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
In today’s Altcoin newsletter, I cover 8 different Altcoins, specifically:
- Injective (INJ)
- Dusk Protocol (DUSK)
- The Graph (GRT)
- Cardano (ADA)
- Polygon (MATIC)
- Thorchain (RUNE)
- Arweave (AR)
- Avalanche (AVAX)
Let’s dive in.
Injective - INJ/USDT
As a preface to today’s analysis, let’s take a look at my April 21st chart and analysis shared in the Newsletter:
And here is today’s updated chart:
Today’s analysis will be quite short given how extensive the analysis from April is.
Indeed, since then INJ pulled back for the expected retest.
And technically - that retest is now in progress.
But it’s now about the higher timeframe candle closes relative to this support area.
Closes above green would be bullish and closes below red would be bearish.
Right now, INJ is enjoying price stability at the green support, despite some downside wicking below it which is fine as long as price recovers back above this area in time for some higher timeframe candle closes above it.
Until INJ performs some of those closes below green, the predominant pathway for INJ at this time is the green path.
Let’s see how the higher timeframe candles close going forward.
Confirmation is key at this time.