Altcoin Market Update #143

Hello and welcome back to the Rekt Capital Newsletter

In today’s edition, the following cryptocurrencies will be analysed & discussed:

• Zcash (ZEC)
• Solana (SOL)
• Pepe (PEPE)
• Celestia (TIA)
• Bonk (BONK)
• Aerodrome Finance (AERO)

But before we dive in, 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

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Let's dive in to today's Altcoin Market Update.

Zcash – ZEC/USDT

Zcash was previously discussed in the context of a Bull Flag forming around $337.027 (black horizontal), with a black downtrend trendline pressing down on price from above. 

That Bull Flag has since broken out.

The breakout positioned price to attempt a reclaim of the orange-to-orange range. 

The immediate trigger was a Weekly Close above $528.951 (orange horizontal, lower range boundary)  and that close has now materialised, opening the path toward $695.487 (orange horizontal, upper range resistance).

That Weekly Close above $528.951 is now being tested.

The retest is in progress.

There could be downside volatility as part of this process, that is not unusual, and it doesn't invalidate the setup on its own. 

What matters is whether $528.951 can hold as sustainable support.

History complicates the picture. 

In late 2025, this level proved unreliable as support, eventually flipping into resistance. 

It has since behaved more consistently as a supply barrier than a floor, which means the burden of proof sits squarely with the bulls here.

If $528.951 fails to hold, the likely destination is the Bull Flag top because this breakout was never fully confirmed. 

Price did not perform a Post-Breakout Retest of the Bull Flag top before pushing higher, meaning the breakout lacks that additional layer of validation on the Weekly timeframe.

That said, price remaining inside the orange-to-orange range does raise the probability of a successful retest. 

The structure is intact for now.

What's needed is continued Weekly Closes above $528.951. 

That is the condition for price to hold its position within the range and sustain a push toward $695.487 over time. 

Downside volatility is possible as per the previous late 2025 retest (orange circle) but the weekly close is what decides whether this retest succeeds or gives way.

Solana – SOL/USDT

Solana has been on the watchlist for some time. 

Like many altcoins following Bitcoin's lead, it began developing a Double Bottom, though it was notably late in doing so. 

As of mid-April, the second half of that formation was still taking shape, with the structure incomplete.

By late April, promising signs emerged. 

The second bottom was developing, and the Double Bottom formation was beginning to mature, setting up the conditions for a potential breakout above the pattern's neckline.

That breakout has now occurred. 

Price produced a Weekly Close above the top of the Double Bottom (blue horizontal) and the retest of that level as new support is currently underway.

A successful retest here would fully confirm the Double Bottom breakout. 

That confirmation would activate a one-to-one Measured Move, pointing back toward the low $100s.

But that near-term picture exists alongside a larger macro question. 

Both $99.06 and $123.28 (black horizontal) were historically significant supports. 

Those same levels now stand as prime candidates to turn into resistance, and the Monthly timeframe will be the one to watch as price approaches them.

For now, the Weekly setup is constructive. 

The breakout is in progress, the retest is underway, and the week-to-week case for further upside holds.