Altcoin Newsletter #207

🎄 Christmas Holiday Announcement 🎄

As we head into the holiday season, we’ll be closing our virtual doors December 23 - January 3 to give everyone time to rest, recharge, and enjoy some well-deserved moments in the warm company of family, friends, and significant others.

As a result, the next newsletter will be published on Monday the 6th of January 2025.

Thank you for a phenomenal 2024 thus far and I cannot wait to see what 2025 has in store in the crypto markets for us.

Wishing you a Merry, Merry Christmas and a Happy New Year 2025!

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:

• Ethereum (ETH)
• Render (RENDER)
• Chainlink (LINK)
• Avalanche (AVAX)
• Dogwifhat (WIF)
• Pepe (PEPE)

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

Let’s dive in...

Ethereum - ETH/USD

Ethereum continues to struggle with the psychological resistance of $4000 (red).

And unsurprisingly on the other hand, it has a psychological support at $3000 (blue).

As a result, ETH may consolidate between these two psychological levels.

If the pullback continues for ETH, of course the $3000 region is where price could find support.

But going forward, it will be worth watching whether indeed ETH could form a bottom in and around that area as that would give rise to a potential Right Shoulder to develop for an overall inverse Head & Shoulders formation (blue), with the validation point of this pattern being the Neckline at $4000 (red):

Render - RENDER/USDT

As we approach the end of the month (and year) for RENDER, it will be important to focus on its upcoming Monthly Close.

Earlier this 2024, when RENDER Monthly Closed above the black $7.31 level, price retested it as support in the following month to springboard to the red $10.81 highs.

In performing that retest, RENDER downside wicked into the red region of liquidity below. In fact, this downside wicking happened in March, April and almost even in June of this year.

Mid-2024, RENDER lost that level as support until last month when RENDER Monthly Closed above the black level once again.

And this month, RENDER is in the process of trying to turn it into new support.

Moreover, RENDER is yet again downside wicking into the red region, just like on previous retests around this level earlier this year.

The retest of the black level is in progress and as per history - it's a volatile one.

RENDER needs to Monthly Close above the black level for this to be a successful retest.

That said, RENDER could still produce downside wicks into the red area even in January as well even if the retest of the black level as new support turns out to be successful.