Altcoin Newsletter #175


In today’s Altcoin newsletter I cover the following Altcoins - specifically:

  • Cosmos (ATOM)
  • Cartesi (CTSI)
  • Harmony (ONE)
  • Stacks (STX)
  • Solana (SOL)
  • Iota (IOTA)
  • Icon (ICX)

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

Let’s dive in...

Cosmos - ATOM/USDT

Cosmos is consolidating inside this blue triangular market structure.

Lately, it has rebounded from the blue Higher Low, successfully retesting it as support, in a similar vain to the mid-2023 retest of the base of this blue pattern.

Two months ago, ATOM rejected from the top of this pattern, much like the rejections in early 2023 and late 2022.

Overall, consolidation here is occurring and holding the base of the pattern now, as ATOM is doing thus far successfully, would precede a move into the top of the structure yet again.

So the green circle showcases a successful retest at the pattern bottom.

The orange circle shows that ATOM would need to Monthly Close above the blue diagonal resistance to confirm a breakout from the overall blue pattern.

This Monthly Close is necessary, followed by a retest of the top of the pattern, to fully confirm a breakout because in the past ATOM has produced upside wicks beyond this point to trap FOMO buyers.

And lastly, the blue circle highlights the importance of the Monthly Close above the red boxed resistance to prompt trend continuation to the upside.

All upside wicks beyond the blue diagonal resistance have ended at the red resistance area which just shows that this red resistance is the major one that price needs to break in order to experience a new macro uptrend.

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