Altcoin Newsletter #156
Features ADA, DOT, VRA, ALGO, EGLD, CSPR, SNX, ROSE
In today’s Altcoin newsletter I cover 8 different Altcoins, specifically:
- Cardano (ADA)
- Polkadot (DOT)
- Verasity (VRA)
- Algorand (ALGO)
- Elrond (EGLD)
- Caspar (CSPR)
- Synthetix Network Token (SNX)
- Oasis Protocol (ROSE)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter
Let’s dive in...
Cardano - ADA/USD
Last week we spoke about how ADA was in an Accumulation Range, challenging the Range High resistance for a potential breakout:
Consolidation was the predominant trend inside this Accumulation Range and until ADA was ready to show some strength against this Range High resistance and/or retest it as new support, there would be no breakout.
Luckily, ADA has broken out from this Macro Range, rallying +28% in the process:
With this new trend, it leaves us with two options, both of which preceding further continuation to the upside:
Will ADA be able to reclaim the orange level as support to rally to the green $0.72 level above?
Or will it need a retest of the Range High resistance as new support to fully confirm the breakout?
Either way, ADA breaking out from its Macro Range is a trend-defining shift for price.
A new macro uptrend has begun.
The only question is will ADA afford us any dips before further upside or not.
Polkadot - DOT/USDT
In late November, we've been speaking a lot about the DOT retest to fully confirm the breakout into a new macro uptrend.
That retest lasted for quite a while but was ultimately successful:
Polkadot has rallied +35% since successfully retesting the main market structure top as new support.
Now DOT is pressing into its first major resistance since the breakout.
DOT has entered a new macro uptrend and so with time this resistance will likely lapse.
For that to happen, DOT would need to reclaim the bottom of the red box as support and then do the same with the top of the red box later on.
A Weekly Close inside the red box would suffice and would likely enable a retest of the bottom of the red box.