Altcoin Newsletter #236
Features SUI PENDLE DOT FIL FLOKI
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)
- Pendle (PENDLE)
- Polkadot (DOT)
- Filecoin (FIL)
- Floki Inu (FLOKI)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Sui - SUI/USDT
A few weeks back, we spoke about a post-breakout retest incoming for SUI:

Here's today's update:

The post-breakout retest is underway.
This Weekly retest is taking place in the context of a new Higher High on the Monthly timeframe:

In fact, the April/May highs have been Monthly Closed above this past July and are now being retested as support this early August.
Generally, the goal for SUI will be to successfully retest this $3.51 level as support to officially turn it from old resistance into new support.
Of course, there could be downside volatility on the retest which could end up as downside Monthly wicks before August is over.
While the worse-case scenario would be SUI dropping into the black technical uptrend line, if SUI needs to do that to form a Monthly downside wick and ultimately Monthly Close above the blue level this August, that would probably be the most volatile retest SUI could healthily muster while maintaining Macro market structure (though wicks have even briefly gone below the Higher Low on the previous occasions in recent months).
The key however is for SUI to hold the blue level going into the September Monthly Close.
Pendle - PENDLE/USDT

PENDLE finds itself inside this Macro Wedge (blue), having in recent months rebounded from the bottom of the pattern, straight into a potential multi-month Bull Flag (black).
In fact, PENDLE has Monthly Closed above the Bull Flag top and is now in the process of retesting it into new support; the retest is in progress.
However, it's important to note that BTC recently failed its own Bull Flag retest (albeit on the Weekly timeframe) but given how this is a Monthly retest, there is time for this structure to perform a volatile retest if need be.
Ideally, PENDLE needs to either hold the Bull Flag top as support or manage to turn the red region into new support to enable a break towards the Macro Wedge Top (blue).

Historically, the red region as a support has been pivotal for price to enable a move to the top of the pattern whereas right now that region is a resistance for the time being.
Macro-wise, PENDLE is technically consolidating between the orange-red range, within this Macro Wedge (blue) and so price will need to reclaim the red region as support to effectively transition into the upper half of the Macro Wedge.