Altcoin Newsletter #217
Features SUI XRP HBAR DEEP TRIAS POPCAT
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:
- Sui (SUI)
- Ripple (XRP)
- Hedera Hashgraph (HBAR)
- DeepBook Protocol (DEEP)
- Trias Token (TRIAS)
- Popcat (POPCAT)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Sui - SUI/USDT
On this pullback, SUI dropped right back into the previous Re-Accumulation Range (black-black).
The bottom of that range happens to be the validation point of the Macro Double Bottom formation (blue) that price successfully retested as support back in late 2024 to confirm the run to new All Time Highs.
Now, SUI downside wicked into that same validation point and now is trying to also make its way above the black Range High of $2.33.
If SUI is able to reclaim this Range High as support via a Weekly Close and successful post-breakout retest next week, price will be able to springboard to the upside as a result of generating some liquidity in a previous Re-Accumulation Range:
The Weekly Close is imperative to activating this blue path.
Ripple - XRP/USD
Macro-wise, XRP is successfully retesting the final major Monthly resistance from 2018 into new support.
And price has been doing that for two months in a row now.
This is the base that needs to continue holding as support if price is to try rally higher.
On the Weekly, we'll notice that XRP lost its multi-week technical uptrend (green):
So even though price rebounded from the 2018 Monthly resistance (orange), XRP will need to reclaim the green technical uptrend to resynchronise that said trend.
Interestingly, this green uptrend line is approximately confluent with the Weekly resistance above (orange box) and this will be the general region that XRP will need to reclaim for it to rally into the $2.80+ area.
In the meantime, XRP will occupy the $1.99-$2.60 range in an effort to garner strength for that potential reclaim.