In today’s Altcoin newsletter, I cover 7 different Altcoins, specifically:
- Verasity (VRA)
- Woo Network (WOO)
- Linear Finance (LINA)
- Telcoin (TEL)
- JasmyCoin (JASMY)
- UniSwap (UNI)
- Ocean Protocol (OCEAN)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in.
Verasity - VRA/USDT
For a few months now, VRA has been maintaining this downtrending channel, dwindling to the downside within it.
So far, all signs are pointing that VRA has flipped the green area into support and is now following the red path which would culminate in the orange support area below.
This orange area is approximately confluent with the bottom of the black channel.
Let's zoom out to the Monthly timeframe:
The yellow circle showcases how Monthly Closes below the green box have historically preceded additional downside, especially upon upside wick into the green box to flip it into resistance in the following month.
And VRA is now positioning itself for that same Monthly Close and potentially for that same scenario where VRA could flip this green area into new resistance in August.
Such a turn of technical events would see VRA continue to follow the red path.
Woo Network - WOO/USDT
WOO is forming this blue wedging structure on the Weekly timeframe.
Here are the keys levels I'm watching:
- If WOO drops within this structure, as part of intra-pattern consolidation, then WOO could revisit the blue base of the structure, perhaps even downside wicking below it as before (yellow circle)
If this were to occur, it would be key for WOO to Weekly Close above the blue base after its downside wicking to not only protect the structure as a whole but enable a move back to the top of the pattern for a potential breakout attempt.
Which leads me to the next level worth watching:
- The top of the blue wedging structure as this is the breakout point for the pattern and would enable a challenge of the green resistance.
WOO has rejected from this green resistance before which is why it would be important for price to reclaim it as support to enable a move to the purple $0.33 resistance.
Which way will WOO consolidate next: will it take the red path or the orange path?
Either way - scenarios are outlined for either possibility.