Altcoin Newsletter #178

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

• Arweave (AR)
• Pendle (PENDLE)
• Ondo (ONDO)
• Pepe (PEPE)
• Chainlink (LINK)
• Polygon (MATIC)
• Vanar Chain (VANRY)

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

Let’s dive in...

Arweave - AR/USDT

Arweave has been a consistent feature here in the Altcoin Newsletter over the past few months.

We first covered AR when it was near its Macro Downtrend:

We then covered it when it had broken the Macro Downtrend and launched into a new Macro Uptrend:

And finally, we covered it when discussing a crucial Macro Retest of a new Macro Downtrend:

And now here's today's analysis:

AR successfully retested the blue Macro Downtrend as support, enabling a transition into the light blue Bull Flag from which price recently brokeout to move to current highs.

Now AR needs to Monthly Close above the black $43 level to position itself for a reclaim of the black-black ($43-$59) macro range.

After all, holding the black $43 level as support in the past (purple circle) has facilitated range-bound behaviour between the black $43 and $59 levels.

In trying to reclaim that old black-black range, the top of the light blue Monthly Bull Flag could also play a role in AR's attempt to secure that range.

That Bull Flag top will always be a contender for a volatile post-breakout retest if AR experiences a dip in the coming weeks.