Altcoin Newsletter #154
Features DOT THETA EGLD GRT AVA DUSK SNX TRX
In today’s Altcoin newsletter I cover 8 different Altcoins - specifically:
- Polkadot (DOT)
- Theta Token (THETA)
- Elrond (EGLD)
- The Graph (GRT)
- Travala (AVA)
- Dusk Network (DUSK)
- Synthetix Network Token (SNX)
- TRON (TRX)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter
Let’s dive in...
Polkadot - DOT/USDT
Polkadot is in the process of breaking its Falling Wedge resistance.
Monthly Close like this would be a very good start to confirming the breakout, especially since there are promising technical signs of DOT successfully performing a retest on the Weekly timeframe of the top of this wedge:
Successful retesting of the top of the pattern and a Monthly Close above are essential for a bullish bias.
A useful way to think about this is that this current Weekly retesting is necessary for DOT to secure the Monthly Close above the pattern top.
And after a Monthly Close outside of the pattern, technically DOT could still enable a dip into the same area in December, but that dip would be part of a Monthly retest as a final step to fully confirming the breakout.
Slowly, DOT is preparing itself for a macro uptrend.
Theta Token - THETA/USDT
Theta Token is no different to Polakdot right now.
THETA is trying to position itself for a Monthly Close above its Downtrending Channel as that would kickstart the breakout process.
Much like DOT, THETA is also successfully retesting the top of this pattern as support:
Continued stability here going into the end of the month would kickstart the breakout process and set price up for a new macro uptrend.