Altcoin Newsletter #166
Features GRT DOGE DYDX VRA HIFI ENS EGLD
In today’s Altcoin newsletter I cover the following Altcoins, specifically:
- The Graph (GRT)
- Dogecoin (DOGE)
- DyDx (DYDX)
- Veracity (VRA)
- HiFi (HIFI)
- Ethereum Name Service (ENS)
- Elrond (EGLD)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in to today's Altcoin Newsletter...
The Graph - GRT/USDT
In November 2023, we spoke about GRT's Ascending Triangle and how it was developing to enable a breakout into the red-red macro range ($0.15-$0.37):
Here was last week's update:
And here is today's update:
GRT is up +115% since the Range Low retest and now getting ever closer to revisiting its Range High resistance ($0.37).
Soon, GRT will reach that resistance and it will be very interesting to see if GRT performs a Range breakout by first reclaiming the Range High into new support.
+115% out of the +146% is already complete.
Dogecoin - DOGE/USDT
Months ago, DOGE broken out from its blue Channel.
And only late this past February did DOGE enjoy strong breakout continuation to the point where it revisited its multi-year Macro Downtrend (blue).
Over time, this Macro Downtrend will inevitably lapse so for holders - this is just a matter of patience.
However, the short-term has a life of its own so to speak so any fluctuations that occur to the downside must be capitalised one.
For example, if DOGE isn't able to Macro Downtrend on the first attempt, there would be scope for a pullback to as low as the black Range Low of $0.096.
After all, on this breakout DOGE has broken back into the black-black range ($0.096-$0.12).
Generally, any dips from here are going to enable to Macro Downtrend break.