Altcoin Newsletter #240

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:

• Aave (AAVE)
• Ethena (ENA)
• Curve DAO (CRV)
• Crypto.com (CRO)
• Popcat (POPCAT)

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

Let’s dive in...

Aave – AAVE/USDT

AAVE continues to trade inside the Macro Range (black-blue; $251-$333), having recently revisited the $333 Range High resistance which has historically functioned as a powerful point of rejection, once even triggering downside continuation into a broader bear market back in early 2022.

More, in late November AAVE also rejected from this same $333 resistance but to a shallower degree by comparison; however this month, the rejection from $333 will likely lead to shallower pullback. 

Currently, price is upside wicking into the $333 region and even extending into the red major supply area that rejected price in late 2024.

Repeated tests suggest the supply may be weakening, though $333 remains the key pivot.

In fact, it is likely that price could pull back once again, though probably in a shallower fashion compared to 2022, thereby still maintaining structure within the Macro Range while gradually stressing the supply barrier above.

On the Weekly timeframe, price continues to make Higher Highs while the RSI is forming a Lower High, establishing a Bearish Divergence. 

This divergence increases the likelihood of a pullback unless $333 is reclaimed as support, which is effectively the continuation trigger for any future breakout attempt.

In sum, rejections from $333 have been progressively shallower over time, gradually weakening the supply area above as well (red box).

Another shallow pullback from here would continue this tendency, raising the probability of an eventual breakout attempt beyond $333 once this level is turned into support, once price reverses from this current retrace phase.

Ethena – ENA/USDT

ENA has been retesting the Bull Flag Top for over two weeks. 

Price is beginning to slip below it via candle bodies, though downside wicks are still defending the region.

If ENA secures a Weekly Close above the Bull Flag Top, scope for a post-breakout retest remains intact.

But if ENA Weekly Closes below, that would begin invalidating the Bull Flag structure and shift focus to the Bull Flag Bottom as the next key support.

Should the Bull Flag Bottom also fail, price could transition into the $0.49–$0.65 range, particularly if $0.65 re-establishes itself as Range High resistance.

For now, everything hinges on the Weekly Close.

Stability above preserves the Bull Flag structure, while a close below would tilt the market into deeper consolidation between the blue-blue range of $0.49-$0.65.