Altcoin Newsletter #158

Before we dive into today's Altcoin Newsletter...

💥I'm excited to announce that I'll be sharing brand new exclusive updates to the "Rekt Capital's 10 Altcoins with 10X Potential" series 💥

Updates on four Altcoins (!) will be released on Monday 8th of January 2024.

Remember, this series is exclusive to Hall of Fame members.

If you're not already on board, you're missing out on potentially life-changing investing opportunities.

In today’s Altcoin newsletter I cover 10 different Altcoins, specifically:

• Celo (CELO)
• Optimism (OP)
• Kadena (KDA)
• Algorand (ALGO)
• Arbitrum (ARB)
• Astar (ASTR)
• Bonk (BONK)
• Theta Token (THETA)
• Power Ledger (POWR)
• Velo (VELO)

These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter

Let’s dive in...

Celo - CELO/USDT

CELO has been in a technical uptrend since the Summer of 2023 (blue Higher Low).

And just last month, CELO had its most explosive move in a year.

CELO broke the black resistance and Monthly Closed above the red resistance as well (i.e. a point of rejection in early 2023).

But CELO is pulling back now - what's going on?

Because CELO Monthly Closed above the red resistance, it's possible this dip is now figuring as a volatile retest of the red level as new support.

A Monthly Close above the red level this month would confirm that and CELO would form a long downside wick as a result.

But of course - CELO needs to reclaim the red level until the end of the month of January.

There's time but until then CELO could still technically dip lower.

The key levels for CELO are the black level (which price broke as resistance just last month) and of course the blue technical uptrend which would represent an absolute bargain-moment (which is unlikely to occur but if it occurs it would probably be a short-lived volatile revisit given the amount of demand there.)

In short - CELO needs to reclaim red as support before the end of the month but until then, dips into the black level and even blue Higher Low are fair game.

Optimism - OP/USDT

OP broke out from a macro Ascending Triangle-like formation.

And to confirm the breakout fully, OP would need to retest the top of the pattern as support (i.e. red $2.71).

There has already been retesting intent via the downside wick this month, but price never actually performed the retest in picture-perfect fashion.

Technically, OP is in the post-breakout retesting phase.

Successful retest and OP will rally to new highs yet again.