Altcoin Newsletter #189
Features PEPE WIF ADA MATIC SEI JUP
In today’s Altcoin newsletter I cover the following Altcoins - specifically:
- Pepe (PEPE)
- Dogwifhat (WIF)
- Cardano (ADA)
- Polygon (MATIC)
- Sei (SEI)
- Jupiter (JUP)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Pepe - PEPE/USDT
In late June, PEPE was able to successfully retest the red boxed area as support to enable a move to form the blue Downtrend and reject there.
Over the past three weeks, PEPE has threatened to lose this red boxed area as support and in fact is showing initial signs of it turning into new resistance.
PEPE needs to Weekly Close above the red box to avoid this developing bearish bias because if it doesn't, PEPE could drop into the green circled black level below, which is where PEPE rebounded strongly between March and May of this year.
It's not clear if PEPE would enjoy such a strong bounce there like last time because supports can weaken over time - a bounce would likely occur there but it's not clear what the magnitude of that bounce would be.
If it is weaker than before, then even that green circled black level could lapse.
But that's a story for another day - at the moment, PEPE hasn't yet confirmed its stance towards the red boxed area, though it is acting as initial resistance for the time being.