Altcoin Newsletter #269

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:

• Injective (INJ)
• Arweave (AR)
• Dogecoin (DOGE)
• Bittensor (TAO)
• Hyperliquid (HYPE)
• Clearpool (CPOOL)

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

Let’s dive in...

Injective – INJ/USDT

Injective has followed through on the fractal from 2022, rejecting from the $4.180 (orange horizontal, Range High resistance) level.

We saw a very similar behaviour back in 2022 and again around the turn of the year, where price rejected from this level and broke back into the $4.180 to $2.423 (orange horizontal, Range Low support) range.

For now, this suggests that Injective is likely to remain range-bound within this structure, potentially continuing to face resistance at the Range High while consolidating over time.

At some point later in the Bear Market, it is possible that price produces a deeper breakdown similar to the purple-circled move seen previously, but until then, the expectation is for continued consolidation within this range.

That would involve holding the lower boundary for now, before eventually losing it as support and turning it into resistance, which would then act as the bearish confirmation for further downside continuation.

Arweave – AR/USDT

When it comes to Arweave, this purple triangle has completely broken down as a Macro structure, while the black Macro Downtrend continues to act as a point of rejection for multiple years now.

Even if price were to see some sort of explosive rally, that Macro Downtrend would likely cap upside as the absolute ceiling for any relief move.

At the same time, price is currently developing a range between $2.58 (black horizontal, Range High resistance) and $1.59 (black horizontal, Range Low support).

With $2.58 acting as the immediate level that needs to be reclaimed to break back into higher positioning.

If price is unable to reclaim this level, then Arweave will likely continue consolidating within this range, maintaining a sideways structure for the time being.

However, looking at other altcoins, the downside wicks from the recent liquidation event are likely to be taken out over time, which suggests that this range could ultimately act as a distribution range.

Whether price consolidates within $2.58 to $1.59 or briefly reclaims higher levels such as $3.55 before breaking down remains to be seen, but the broader expectation is that this range-bound structure will precede a move into the $1.27 region.

And if those liquidation lows at $1.27 are eventually lost, then that would open the door for further downside and potentially new All Time Lows over time.