Altcoin Newsletter #182
Features MATIC DOT SOL ONDO AKT TIA
In today’s Altcoin newsletter I cover the following Altcoins - specifically:
- Polygon (MATIC)
- Polkadot (DOT)
- Solana (SOL)
- Ondo (ONDO)
- Akash Network (AKT)
- Celestia (TIA)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Polygon - MATIC/USDT
Polygon is developing a clear macro triangular market structure (blue) underneath a major resistance area (red).
Monthly Close above the blue Higher Low and MATIC will have confirmed to have protected the Higher Low as support to position price for further consolidation within the structure.
Hold the blue Higher Low and MATIC will be able to consolidate to the upside to as high as the blue Lower High above, over a period of a few months.
The last time MATIC rebounded from the Higher Low to the Lower High, it took price three months to revisit the top of the pattern.
Polkadot - DOT/USDT
With the quarterly candle close just around the corner, DOT is in the process of retesting late 2022, early 2023 highs/resistance as new support (green).
DOT broke above the green area in Q4 of 2023, retested it as support in Q1 of 2024, and now once again is retesting this area as support this Q2 of 2024.
Continued stability here should help DOT form a base here from which to springboard from going into Q3 and Q4 of this year.
Quarterly Close above green and DOT will continue to hold here as support, with scope for downside wicking below it in Q3, but ultimately in an effort to position price for future upside.