Welcome to the Rekt Capital newsletter, a resource for people who want to better navigate the crypto markets with the help of cutting-edge crypto research and unbiased market analysis.
Every Friday, I host an Altcoin TA session where I share my exclusive commentary on the price action of a wide variety of coins.
I share charts on 8 coins today.
In today’s Altcoin newsletter, I cover 8 different Altcoins, specifically:
- Ethereum (ETH/USD)
- Solana (SOL/USDT)
- VeChain (VET/USDT)
- Cardano (ADA/USD)
- Polkadot (DOT/USDT)
- Cosmos (ATOM/USDT)
- Fantom (FTM/USDT)
- Coti (COTI/USDT)
Ethereum - ETH/USD
ETH is struggling at support here, mustering very little reaction now compared to mid-2021.
Technically, yes, a relief rally into the ~$2269 is possible.
But if this reaction here at ~$1720 continues to remain this weak, ETH may very well forgo a relief rally scenario and simply breakdown sooner into the blue or even orange levels.
Solana - SOL/USDT
Solana is entering a historical demand area, where multi-month consolidation took place.
SOL should be able to find some support here at least over the coming weeks.