Altcoin Newsletter #191
Features NEAR ONDO AAVE SUI RNDR ETHFI NPC
Welcome to the Rekt Capital newsletter, a place for people who want to better navigate the crypto markets with the help of cutting-edge crypto research and unbiased market analysis.
Let's dive in.
In today’s Altcoin newsletter I cover the following Altcoins - specifically:
- Near Protocol (NEAR)
- Ondo (ONDO)
- Aave (AAVE)
- Sui (SUI)
- Render Token (RNDR)
- Ether fi (ETHFI)
- Non-Playable Coin (NPC)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Near Protocol - NEAR/USDT
Near Protocol needs to Monthly Candle Close above the black $4.36 level to position itself for a green path move to revisit the blue Macro Downtrend.
Because at the moment, in fact, NEAR is positioning itself for a loss of said level as support.
Seeing as NEAR has rebounded quite strongly from the blue $3.65 level and producing a long downside wick to evidence a volatile retest of that blue level, it's possible NEAR could try to turn the black $4.36 level as new resistance in September if the Monthly Close occurs under black.
Such a turn of technical events would see price follow the red path over time.
Ondo - ONDO/USDT
For weeks now, ONDO has been turning the light blue level of $0.74 into new resistance, which is a far-cry from the successful retesting of this same level as support back in March-May.
Back then, ONDO held the light blue $0.74 level as support for weeks and now the opposite is happening which of course could spell additional downside for ONDO in the future.
Here's the Monthly timeframe for additional context:
A Monthly Close just like this, below the light blue level, could spell additional downside into the black levels over time.
Of course, Monthly Close below the light blue level could see a bounce occur to flip that level into new resistance in September to precede additional downside continuation to either of the black levels.
ONDO needs a Monthly Close above the light blue level to preserve the light blue-light blue ($0.74-$0.97) range but at this time it is looking like ONDO may be losing this range.
Monthly Close of course to confirm.