Altcoin Newsletter #262

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:

• Ondo (ONDO)
• Render (RENDER)
• Crypto Com (CRO)
• Sui (SUI)
• Ripple (XRP)

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

Let’s dive in...

Ondo – ONDO/USDT

ONDO, much like many Altcoins in recent months, experienced lesser and lesser rebounds from crucial supports, before those supports finally lapsed.

ONDO had a support in the red region, which generated a +242% rally and then a +82% rally; progressively weaker rebounds demonstrating weakening buy-side liquidity at the red area of support.

Ever since breaking down from the red region, ONDO has been continuing its Downtrend.

In 2024, ONDO enjoyed a successful retest of the black $0.43 level (green circle) whereas in recent weeks ONDO turned that same level into new resistance (red circle).

And now ONDO is approaching another previously bullish level from 2024 in the form of $0.20 which happens to be the Range Low of the $0.20-$0.43 Range.

ONDO has downside wicked into this level last week but price will need to form a general cluster in and around that region if it wants to develop a base for a mid-term Relief rally across the Range.

Generally, the major liquidation wick from Q4 saw price briefly flash close to this $0.20 level and now that price has almost revisited it, it raises questions about how strong this level really is as a support.

Which is why a cluster will be important to develop if ONDO is to produce a relief rally across the Range.

And if price drops closer to the Range Low again, even after last week's downside wicking reaction, that would raise further questions about the support's strength as in that scenario the latest reaction from there will have been short-lived due to lack of buy-side interest.

Render – RENDER/USDT

Just last month we spoke about how RENDER found itself inside a familiar Range:

Here's today's analysis:

RENDER ultimately Weekly Closed below the light blue resistance and rejected harshly, indeed going for that Higher Low that price is now trying to establish (orange circle).

Generally, for repeated upside from here, RENDER will need to hold the $1.36 level as support; it will be important that price doesn't turn this level into resistance this week and so a Weekly Close above $1.36 is essential to maintain inside the Range.

And if indeed RENDER preserves the Higher Low and holds the $1.36 level, it could go for another move across the Range in which case it would be important to monitor for whether a Lower High resistance potentially develops in the future.