Altcoin Newsletter #210

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:

• Hedera Hashgraph (HBAR)
• Bonk (BONK)
• Virtuals Protocol (VIRTUAL)
• Stellar (XLM)
• peaq Network (PEAQ)
• Based Pepe (BASED PEPE)

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

Let’s dive in...

Hedera Hashgraph - HBAR/USDT

HBAR is trying to break beyond its current Weekly Lower High but unless price is able to Weekly Close above the LH, this could end up as an upside wicks; like the many upside wicks that were produced at a similar Lower High back in 2021 before downside ensued.

History is suggesting that HBAR could continue to reject from the Lower High so as to finally retrace into the orange circle area.

More, history is also suggesting that HBAR is extremely overbought on the RSI (orange box on the RSI):

History is definitely aligning in a way that could see HBAR drop going forward.

However, right now, it's a case of watching the ways that HBAR could potentially go against the grain of history and that would start with a Weekly Close above the Lower High resistance (black).

In the absence of that sort of confirmation and potential struggling of stability at the red Higher Low, it will be difficult for HBAR to not repeat history.

Bonk - BONK/USDT

This red area used to be a major point of rejection for BONK.

Since breaking this resistance in early November, BONK has been in a consistent downtrend to the point of revisiting this zone, but this time as a possible support.

Two weeks ago, BONK lost this area as support but last week price was able to Weekly Close inside the old resistance, with price now trying to reclaim this area as support once again.

Failing this retest could see price drop as low as into the black Higher Low down below.