Altcoin Newsletter #184
Features LINK SUI AERO FTM BONK DOT
In today’s Altcoin newsletter I cover the following Altcoins - specifically:
- Chainlink (LINK)
- Sui (SUI)
- Aerodrome Finance (AERO)
- Fantom (FTM)
- Bonk (BONK)
- Polkadot (DOT)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Chainlink - LINK/USD
This is the Quarterly chart for Chainlink.
Ever since LINK broke out from its black-black Accumulation Range, Chainlink has been in a Macro Uptrend.
For two quarters now however, price has been pulling back and has retraced into its first major order block (orange).
Before, this orange area acted as resistance in mid-2020 and even Q3 of 2020.
And now, what was once a resistance area may now be acting as a support area.
LINK has initially retested the top of this orange area as support earlier this Quarter but there's still a lot of time in the quarter which means that there's still scope for further retesting here over the coming months, if need be.
Sui - SUI/USDT
The light blue line.
When it acts as resistance, price drops into the green level.
When it acts as support, it can enable strong rallies to the upside.
Right now, SUI is enjoying support at the light blue level which therefore could enable upside in the coming weeks.
Continued stability here and SUI could revisit the $0.97 black resistance above.
It's important to note that last month SUI Monthly Closed below the black level to lose said level as support; if SUI were to rebound soon, rally to the black level but only to reject from it, that would effectively confirm the black level as new resistance to fully confirm the breakdown from that old support.
At the moment, SUI is potential forming a new range at the light blue support of $0.68 and continued stability here would enable a move to the black $0.97 resistance over time.