In today’s Altcoin newsletter I cover 8 different Altcoins - specifically:
- Litecoin (LTC/BTC)
- Telcoin (TEL)
- SushiSwap (SUSHI)
- Virtua (TVK)
- Realio (RIO)
- Stacks (STX)
- Theta Token (THETA)
- Neo (NEO)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter
Let’s dive in...
Litecoin - LTC/BTC
Last month, Litecoin on its BTC pair has lost its blue-blue range and this month is showing initial signs of turning it into new resistance.
Reject from here and LTCBTC could drop back into the new old Time Low level from late 2022, which could offer a precarious position as LTCBTC could easily slink down to new All Time Lows in that scenario.
However, if LTCBTC is able to reclaim the blue Range Low as support then it is clear that price would continue its consolidation inside that range and revisit the confluent resistance area that is the Range High and the Macro Downtrend (black).
Telcoin - TEL/USDT
As a preface, here is my analysis on TEL from several months ago:
And here is the September 2023 update:
TEL had confirmed the red path which would see TEL drop to the Macro Higher Low for a crucial reversal retest.
And here is today's update:
TEL rebounded from the Macro Higher Low in picture-perfect fashion and rallied +200% straight to the very top of the overall triangular market structure.
From this point, TEL needs to stay above the top of the triangle to perform a breakout from this pattern.
Price stability at these highs is essential also to offer a positive Monthly Close:
Monthly Close above the Lower High of this triangle would be another higher timeframe confirmation signal that TEL is ready to breakout from here.
Hold the top of the triangle as support and TEL will be able to follow the green path over time.
In the event that TEL fails to hold above the pattern this month, I'd be looking inside the pattern, with the worst-case scenario being a revisit of the horizontal dashed level inside the triangle as that level was never retested on this ascent.