Altcoin Newsletter #179
Features WIF VANRY METIS DOT INJ PENDLE ONDO RNDR
In today’s Altcoin newsletter I cover the following Altcoins - specifically:
- dogwifhat (WIF)
- Vanar Chain (VANRY)
- Metis (METIS)
- Polkadot (DOT)
- Injective (INJ)
- Pendle (PENDLE) & Ondo (ONDO)
- Render Token (RNDR)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
dogwifhat - WIF/USDT
WIF has been meandering around these levels for a few weeks now but what is has been trying to do is to effectively reclaim the $3.04 level as support.
A few weeks ago (red circle), WIF Weekly Closed above the blue level but failed its retest in the following week.
This preceded a period of downside.
Last week, WIF once again Weekly Closed above the blue level and this week as a result price is setting itself up for a retest of said level (orange circled).
This retest of the blue level is all about enabling a sustainable move to the $3.76 (red) level in an effort to also reclaim that level as support so as to then enable a challenge of the $4.58 (also red) resistance.
This week, WIF needs to protect the blue level as support on any dips so as to muster a successful retest; something WIF wasn't able to do a few weeks back.
One of the positives about WIF's trend is that price is in a technical uptrend (green):
This technical uptrend has supported price since early March and is the most important trendline for WIF at this time; this diagonal needs to continue holding to ensure the technical uptrend remains intact.
This trendline has been revisited every time WIF has either failed to break the blue level as resistance or most recently, when WIF failed to retest the blue level as support.
Vanar Chain - VANRY/USDT
Last week we discussed VANRY and it's impending breakout from its Re-Accumulation Range:
VANRY's breakout from the range was mimicking a key retest from earlier this year.
Here's today's update:
VANRY has rallied +15% since breakout and will need to reclaim the black ~$0.22 level as support to position itself towards the orange area, which itself would need a reclaim in the future - but that's a story for another day.
VANRY has just ended a 2-month consolidation period and should embark on a new multi-month uptrend as a result.