Altcoin Newsletter #153
Features DOGE FIL AVA AR XTZ CHZ NEAR
In today’s Altcoin newsletter I cover 7 different Altcoins - specifically:
- Dogecoin (DOGE)
- Filecoin (FIL)
- Travala (AVA)
- Arweave (AR)
- Tezos (XTZ)
- Chiliz (CHZ)
- Near Protocol (NEAR)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter
Let’s dive in...
Dogecoin - DOGE/USDT
In recent weeks, I shared a follow-up to my Dogecoin analysis which you can see in my Altcoin Watchlist from earlier this month:
And here is an update:
Dogecoin has rallied over +50% since the Channel Bottom, ultimately breaking out in the past few weeks and enjoying a lengthy but successful retesting period of the Channel Top as new support.
Trend continuation is now underway and it's likely this move will continue on for a while.
Why?
Because DOGE has only just broken out from a year-long Channel.
And breakouts from higher timeframe structures preceded higher timeframe new trends and results.
Filecoin - FIL/USDT
FIL is on the cusp of a new Macro Uptrend.
It is currently attempting a breakout from this macro market structure (blue)
If FIL dips in the short-term, it would need to retest the top of this pattern as new support to confirm the breakout.
Interestingly, the pattern top and the black $4.41 level are approximately confluent levels of previous resistance, which may soon be turned into new areas of support.
Successful retest would confirm the breakout.
Really important FIL stays above the pattern for a Monthly Close above it as previous upside wicks have been bearish developments for price.