Altcoin Newsletter #198

Welcome to the Rekt Capital Newsletter, a resource for investors who want to better navigate the crypto markets with the help of cutting-edge crypto research and unbiased market analysis.

In today’s Altcoin newsletter I cover the following Altcoins - specifically:

• Kadena (KDA)
  • Current Phase: Price-strength confirmation in progress
• Dogecoin (DOGE)
  • Current Phase: Macro Downtrend Retest Successful
• Celestia (TIA)
  • Current Phase: Reclaim in progress
• Pendle (PENDLE)
  • Current Phase: On the cusp of potential breakout confirmation
• UniSwap (UNI)
  • Current Phase: Retest in progress, scope for downside volatility
• Ondo (ONDO)
  • Current Phase: Macro Downtrend challenge

These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.

Let’s dive in...

Kadena - KDA/USDT

KDA has been successfully retesting the black Macro Higher Low as support for 5 months now, producing many downside wicks below the Higher Low but never actually losing it as support.

KDA has exhibited fantastic price strength stability at this multi-year Higher Low and continued stability here should predispose KDA to future upside to at least the red resistance above.

At that point, in the future when KDA is at the red resistance, price will look to break back into the black-black range ($0.85-$1.52) which used to be a home for KDA.

In some way, this black-black range is a mean-reversion reference point; KDA tends to upside deviate beyond that range in Bull Markets, downside deviate below it in Bear Markets.

So KDA's goal for the future will be to first return to the range as part of mean reversion and then secondly upside deviate beyond it as per historical Bull Cycles.

For now however, KDA's objective is to merely hold the Macro Higher Low as support to prepare it as a launch point for its future new Macro Uptrend.

So far, so good.

Dogecoin - DOGE/USDT

DOGE has successfully broken its Macro Downtrend (blue) and retested it as support in recent months (purple circle).

As a result, the Macro Downtrend has been confirmed to be over and DOGE is slowly beginning its new Macro Uptrend.

To build on the nascent phase of its uptrend, DOGE will need to reclaim the $0.12 (black) old Range Low as new support in an effort to rallying higher across the range to revisit the blue mid-range at $0.16.

That mid-range would need to be reclaimed in the interim as well if price is to then challenge the black Range Highs at $0.20).

For the moment however, the most important technical feat DOGE can perform now is Monthly Close (or Weekly Close followed by a successful retest) above the black $0.12 Range Low first as that would put DOGE in pole position to secure this level back into support and position price for trend continuation to the upside.

Until DOGE has performed a confirmed higher timeframe candle close above the key level of $0.12, that Macro Downtrend retest will always remain as a possibility on a market-wide pullback (after all - DOGE has retested it as support 5/5 times over the past 5 months).