Altcoin Newsletter #228

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:

• Vanar Chain (VANRY)
• dogwifhat (WIF)
• Jupiter (JUP)
• Render Token (RENDER)
• Jasmycoin (JASMY)
• Ondo (ONDO)

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

Let’s dive in...

Vanar Chain - VANRY/USDT

A few months ago, VANRY broke out from its Downtrending Channel (red), effectively ending the Downtrend and entering a new technical Uptrend.

In saying so, this current period of sideways price action looks to thus be a period of re-accumulation in a new uptrend.

Resisting at the blue resistance of $0.04 and trying to find support at the local blue area, price may be developing a range here at these highs and it is this range that needs to hold to position price for another challenge of the Range High.

Overall, VANRY's goal is to at long last Weekly Close back inside the green area above.

This green area represents the historical demand area from late 2023, early 2024.

So VANRY will need to:

• First, hold the blue area as support
• Then, Weekly Close above the $0.04 resistance and turn it into support,
• So as to afterwards rally to the green area and Weekly Close inside it.

Weekly Closing inside the green area would probably enable another bout of re accumulation but at least the moment price finds itself back there, it will be a sign that price has ended its downside deviation and is ready to absorb historical buy-side liquidity within the green region.

dogwifhat - WIF/USDT

As a preface, here is last week's analysis on WIF:

And here's today's update:

Indeed, price is tumbling down towards the black $0.76 level, soon to tag it for a retest.

This level has never before been retested as a support; in fact, the only time that price reacted from here meaningfully was earlier this year when price rejected from it, flipping it into resistance.

On this pullback, price has the chance to retest this level into new support.

However, Weekly Closing above black would be necessary to demonstrate continued stability here; downside wicking below the black level as part of a volatile retest into as low as the orange order block below could also be on the cards.

Generally, price need to find stability at the black level if it wants to reaffirm that it is now consolidating between the black $0.76-$1.50 Range (black-green).