Altcoin Newsletter #188
Features ETH FET INJ NEAR DOGE JUP
In today’s Altcoin newsletter I cover the following Altcoins - specifically:
- Ethereum (ETH)
- Fetch ai (FET)
- Injective (INJ)
- Near Protocol (NEAR)
- Dogecoin (DOGE)
- Jupiter (JUP)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Ethereum - ETH/USD
The blue circled area represent two crucial historical higher timeframe support areas: the black $2265 level and the long-standing light blue Higher Low, dating back to mid-2022.
ETH recently downside wicked into one of these, specifically the black level for a thus far successful retest.
In doing so, ETH may have developed a new range for itself, with the black Range Low acting as the Range Low and the red boxed ~$2800 acting as the Range High.
If ETH were to relief rally only to reject from the red boxed resistance then ETH would probably need to consolidate inside the $2265-$2800 range for a little longer.
At the moment, this is what ETH is positioned for because of how the Weekly Close last week occurred below the red area to kickstart the breakdown process.
The red area is clearly the area that ETH needs to reclaim as support to try to challenge for a break of the first light blue downtrend, all in an effort to shift ETH's fortune around.