Altcoin Newsletter #162
Features ETH ARB ADA LINK KNC DYDX VET
In today’s Altcoin newsletter I cover the following Altcoins, specifically:
- Ethereum (ETH/USD)
- Arbitrum (ARB)
- Cardano (ADA)
- Chainlink (LINK)
- Kyber Network (KNC)
- DyDx (DYDX)
- VeChain (VET)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Ethereum - ETH/USD
Over the past several weeks, we've anticipated most if not all of Ethereum's moves.
First, we spoke about how Ethereum was going to follow its green path to the ~$2700 area:
Then, once that had occurred, we spoke about how ETH would likely drop back into the Range Low for a retest attempt, with scope for downside volatility:
Indeed, ETH dropped into the Range Low for that retest and the retest itself was quite volatile:
Ultimately, the retest was successful, as ETH was able to Monthly Close above the Range Low, further solidifying it as support, bringing us to the present day:
That Monthly Close was quite pivotal because it confirmed to us that ETH has successfully retested the Range Low as support despite whatever downside volatility occurred below it.
With ETH solidifying a base here, it means that price continues to occupy this range and may very well be preparing itself for a repeat of last month's move to the Range High resistance area once again via the green path.