Altcoin Newsletter #181
Features GRT LTC LTO FLOW ERN DYDX CRO
In today’s Altcoin newsletter I cover the following Altcoins - specifically:
- The Graph (GRT)
- Litecoin (LTC)
- LTO Network (LTO)
- Flow (FLOW)
- Ethernity Chain (ERN)
- DyDx (DYDX)
- Crypto Com (CRO)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
The Graph - GRT/USDT
GRT has been in this red-red macro range ($0.15-$0.37) since late 2023.
In late 2023, GRT retested the Range Low as support (green circle) to enable a move to the Range High where price rejected (red circle).
Since that fateful rejection at the Range High, GRT has since dropped into the black Mid-Point of the red-red range (i.e. $0.23) which represents the halfway point of the range.
Holding this black level as support would enable another move to the red Range High but given the weaker reaction from here last month, there's a chance a breakdown could occur from here.
Monthly Close below the black Mid-Point would probably confirm, especially upon turning the black level into new resistance, that GRT may need to establish a new playground in the lower half of the red-red range.
Thus far, GRT has occupied the upper half of the red-red range but slipping from this Mid-Point would mean that price will need to drop into the lower half of the range to find a bottom.
If GRT were to lose the Mid-Point and even drop back into the Range Low, then it is possible that Range Low would share confluence with the longer-term Higher Low (purple) to offer additional support.