Altcoin Newsletter #203
Features NEAR FET SUI XLM AVAX HBAR
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:
- Near Protocol (NEAR)
- Artificial Superintelligence Alliance (FET)
- Sui (SUI)
- Stellar (XLM)
- Avalanche (AVAX)
- Hedera Hashgraph (HBAR)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Near Protocol - NEAR/USDT
NEAR needs a Monthly Close above the Macro Downtrend (blue) to kickstart trend continuation in its new Macro Uptrend which began in late 2023.
At the moment, the Macro Downtrend is a confluent resistance with the black Range High resistance of $5.97.
After all, NEAR is consolidating in this black-black range of $4.00 to $5.97 and it has been this way for several months now.
To breakout from this Range and break beyond the Macro Downtrend, NEAR will need a Monthly Close above this confluent resistance region.
Until then, consolidation will persist.
Artificial Superintelligence Alliance - FET/USDT
Ever since FET broke its Macro Downtrend, it has been moving sideways inside its macro range of $1.11 (green) to $1.77 (red), with the approximate mid-point of the range being the orange boxed area.
In recent weeks, FET has been rejecting from the orange area; orange has been acting as resistance, which means that FET could still drop into the Range Low for a retest.
Overall, FET is a long way away from breaking out from the range but it will try to establish a base at the Range Low to prepare itself for a move across the range once again.
More, it's possible that FET is building a triangular market structure as it consolidates inside the range:
There are clear Lower Highs and Higher Lows on the price action which will both serve as pressure on price which will compress price into a trend decision in the future.