Altcoin Newsletter #224

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:

• Realio Network (RIO)
• Stellar (XLM)
• Celestia (TIA)
• Cardano (ADA)
• Polkadot (DOT)
• Near Protocol (NEAR)

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

Let’s dive in...

Realio Network - RIO/USDT

Last week, we spoke about RIO's Weekly Bullish Divergence and it's likelihood of dipping into a key Monthly level.

Here is last week's analysis on RIO:

And here is today's update:

RIO has successfully retested the orange $0.26 level as support and has rallied +30% to the upside since then.

The goal for RIO will be to continue its run to revisit the black $0.42 highs in the future.

Stellar - XLM/USDT

Late last month, I shared how XLM was on the cusp of confirming a breakout from its Downtrending Channel:

Here's today's update:

XLM has successfully confirmed the end of its multi-month Downtrend and confirmed a breakout from its Downtrending Channel.

Now once XLM Weekly Closes above the green area, any dips into the green area would figure as a successful reclaim of green as support to enable a move to the orange circled region above.

Here's why the green area is so important to be reclaimed by XLM:

The green boxed area is a historical demand region on the Monthly timeframe.

Historically, turning it into support in bull markets has enabled upside into the orange circled area above.

Should XLM indeed repeat history and rally to the $0.37 resistance above, it will be important for XLM to reclaim that level as well, as per historical tendencies (green circle) as such a reclaim could see XLM challenge the $0.52 blue highs over time.

First thing is first however - it all starts with a reclaim of the green boxed area into support.