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, requested by valued premium members of the Rekt Capital Newsletter.
I share charts on 8 coins today.
In today’s Altcoin newsletter, I cover 8 different Altcoins, specifically:
- Zilliqa (ZIL)
- Aave (AAVE)
- Oasis Network (ROSE)
- Band Protocol (BAND)
- Binance Coin (BNB)
- Near Protocol (NEAR)
- Fantom (FTM)
- The Sandbox (SAND)
Zilliqa - ZIL/USD
ZIL lost its black macro structure a few months ago, all the while losing the green Monthly support as well.
However, not much downside emerged from these losses in market structure and levels.
ZIL would need to reclaim both the green level and black trendline as support to position itself for a run.
And perhaps the bullish divergence on the RSI is showcasing hidden strength towards that actually happening.
Reclaim green as support and the black trendline and ZIL would be positioned to revisit the red resistance area above.
Aave - AAVE/USDT
On the Weekly timeframe, AAVE is still in the process of retesting the red region as support following its breakout from a multi-month downtrending channel (orange):
In fact, AAVE is in the process of a significant technical milestone because the significance of this red region is moreso apparent on the Monthly timeframe:
In late 2020, the red region would figure as a brief re-accumulation period for AAVE before further upside.
This time, AAVE is trying to turn this region back into a support in order the crack back into the orange-orange range above.
Successful retest here and AAVE may ascend even as high as $150.