Altcoin Newsletter #206

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:

• Aave (AAVE)
• Render (RENDER)
• Chainlink (LINK)
• Dog go to the moon (DOG)
• Sei (SEI)
• Sui (SUI)

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

Let’s dive in...

Aave - AAVE/USDT

AAVE is a coin we'd been closely following in the Hall of Fame Pro, talking about AAVE's historical retest of the black $251 level being a necessity for price to rally to new yearly highs.

AAVE needed to Weekly Close above the $251 level and retest is as support to enter trend continuation.

And AAVE did just that, repeating history perfectly:

AAVE has produced an almost +50% rally since successfully retesting the $251 level as support.

But what's next?

The reality is that AAVE is approaching its final major resistance before new All Time Highs and Price Discovery.

But for AAVE to stand a chance at achieving those historic technical feats, price would need to Weekly Close above the red region and successfully hold there, treating it as a newfound support to form a base there from which it could springboard to those new All Time Highs.

Until that sort of Weekly confirmation is in for AAVE, there is a risk of rejection at the red region, which could of course send price back down into the black Range Low of $251 and in turn AAVE would develop a likely re-accumulation range at these highs.

Render - RENDER/USDT

In recent weeks, we discussed how RENDER needed to repeat history via a Weekly Close and subsequent retest of the black $7.31 as support (green circle) to launch into uptrend continuation.

RENDER was able to do just that, producing a +62% rally in the process.

Here's what we've learned from this rally:

• RENDER has formed a Range High resistance at $10.81 (red).
• RENDER has formed a new Range Low support at $7.95 (blue).
• The fact that the blue level has become a new Range Low means that on its recent pullback RENDER has formed a new Higher Low relative to the key black $7.31 retesting point from a few weeks back, evidencing premium-buying behaviour.
• RENDER will consolidate inside its macro range of $7.95 to $10.81, and retests of the Range Low could possibly offer downside wicks into the black $7.31 region as was the case in mid-2024.
• RENDER would need to Weekly Close and retest the red $10.81 Range High to confirm a breakout from this macro range in the future, as per the orange circles below: