In today’s Altcoin newsletter, I cover 6 different Altcoins, specifically:
- Cardano (ADA)
- Ocean Protocol (OCEAN)
- Stellar (XLM)
- Shiba Inu (SHIB)
- Solana (SOL)
- Woo Network (WOO)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Here is the analysis from a week ago:
And here is today's update:
Losing the Weekly technical uptrend was a bearish confirmation sign for ADA and it has induced enough weakness in the price action for ADA to lose the black level as support but also inevitably follow the red path and drop into the blue Range Low support.
ADA is still inside the blue-blue range, holding the Range Low.
However, if we compare the latest 2022 rally which saw price move beyond the blue $0.40 resistance, by comparison this rally from Q2 of this year is decisively weaker.
Which begs the question - is the Range Low weakening as support?