Altcoin Newsletter #231

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)
• Sui (SUI)
• Sei (SEI)
• Nexo (NEXO)
• Aave (AAVE)
• Bittensor (TAO)

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

Let’s dive in...

Ethereum - ETH/USD

In recent months, Ethereum has successfully protected the green multi-year technical uptrend line as support.

In fact, the rebound was so strong that price Monthly Closed right back inside the blue-blue Macro Range of $2279-$2993.

More, ETH is in the process of retesting the blue Range Low into new support after last month's break back into the range.

The retest is in progress and it is successful thus far.

Continued stability here should see price challenge the $3000 Range High resistance and attempt a Monthly Close above said level as that would kickstart the breakout process to $4k (though perhaps with a post-breakout retest to turn $3k into new support first).

As we can see, there are two notable diagonal resistances above: the black 1.5-long resistance and the green Lower High resistance which is clearly a multi-year point of rejection.

The green Lower High matches the important of the green Higher Low as together they have been significant for a similar amount of time and both bring about this Macro Triangle.

Breaking the green Lower High would mark a breakout from the green Triangle which would signify a decisive shift in ETH's macro trend.

First is first however - the reclaim of the blue Range Low as support so as to position ETH for a revisit of $3k.

Sui - SUI/USDT

Last week, we spoke about how SUI was preparing for downward movement as part of its consolidation within its emerging structure after failing its Monthly retest:

Here's today's update:

SUI is getting very close to that green historical demand area which is a potential confluent support with the dashed Higher Low as well.

More, SUI has reached that key year-long Higher Low technical uptrend on the Weekly RSI as well:

The Weekly RSI continues to respect this trendline as support and SUI will try to find stability in the confluent support that is the intersection of the price historical demand area and also this Weekly RSI trendline.