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In today’s Altcoin newsletter I cover 6 different Altcoins, specifically:
- TomoChain (TOMO)
- Polkadot (DOT)
- Near Protocol (NEAR)
- Prime (PRIME)
- Ocean Protocol (OCEAN)
- Woo Network (WOO)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
TomoChain - TOMO/USDT
TOMO has been consolidating for months at these highs, each time trapping FOMO buyers via upside wicks beyond the green Range High above and capitulating panic sellers via downside wicks below the green Range Low.
In recent months, TOMO has formed a Higher Low (orange) within the green Range here and now price is trying to press beyond the green Range High.
Could TOMO form an upside wick here?
It's possible which is why a Monthly Close above the green Range High is needed or at the very least a successful retest of that same level - either are needed to propel TOMO into the red resistance area to try to break it.
At this time, there is reason to believe that this green range may be acting as a Re-Accumulation Range.
Polkadot - DOT/USDT
Last month, Polkadot Monthly Closed below the black level which was a confluent level with the bottom of the blue triangular market structure.
And this month, price upside wicked into this level to flip it into new resistance before confirming further downside continuation into the orange area.
The orange area acted as a historical demand area in late 2020 whereas now it is failing to generating that same sort of support from buyers.
The bottom of the orange area may be retested as support in the future and in the event of little reaction, DOT may actually lose this region with time in an effort to establish an Accumulation Range at new lows.