This Friday, I’ll chart your Altcoin picks in an exclusive subscriber-only TA newsletter and will cover as many as I can.
So if you’d like to have an Altcoin charted, feel free to share max. two TA requests each in the comments below.
I’ll chart the Altcoins that get mentioned and ‘Liked’ the most.
In today’s edition of the Rekt Capital Newsletter, the following cryptocurrencies will be analysed and discussed:
- Solana (SOL)
- TomoChain (TOMO)
- Stellar (XLM)
- Lido DAO (LDO)
- Dusk Network (DUSK)
- Chainlink (LINK)
Let’s dive in.
Solana - SOL/USDT
After SOL's fantastic breakout move, last week I spoke of how I was expecting a technical retest of the blue diagonal that price had previously broken beyond:
Here is an update:
Slowly but surely, SOL is pulling back towards the breakout point where this recent move originated from.
Ideally, for a bullish scenario SOL would a) Monthly Close above the blue diagonal and b) retest it in August as support.
This sort of turn of technical events would effectively fully confirm the breakout past the blue multi-month diagonal resistance and position SOL for trend continuation via the green path.
TomoChain - TOMO/USDT
Let's recount last week's analysis on TOMO.
Essentially, I was looking for a retest via the orange path for TOMO to confirm a reclaim of the black level ($1.12) as support:
Here's an update:
Zooming into the Weekly timeframe, the successful retest of the black level is all that more clear.
TOMO has managed to reclaim black as support and has since rallied almost +20% to the upside.
Here is what the updated chart looks like on the Monthly:
The next immediate resistance for TOMO is the $1.41 resistance, but there is a chance that TOMO upon revisiting that level could overextend into the red resistance area once again, like it did via upside wicks over the past two months.