Altcoin Newsletter #272
Features analysis on Altcoins such as TAO JUP AVAX INJ RENDER VIRTUAL
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In today’s Altcoin newsletter I cover the following Altcoins – specifically:
- Bittensor (TAO)
- Jupiter (JUP)
- Avalanche (AVAX)
- Injective (INJ)
- Render (RENDER)
- Virtuals Protocol (VIRTUAL)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Bittensor – TAO/USDT
TAO is at a similar crossroads to late March.
Back then, the key question was whether price could produce Weekly Closes above the orange zone (orange horizontal, macro resistance) — marked by the green circles historically — or whether it would drop into the red zone (red horizontal zone, historical demand) below.
That pullback certainly materialised.
It was quite deep, with the reversal now running 29–30% in progress.
The Monthly perspective from March reinforced that same weekly structure and retest.
This Monthly chart reinforced that weekly pullback and retest.
What's interesting is that this could be developing a Bull Flag, though Bull Flags are continuation patterns, and TAO remains in Lower Highs.
It is nonetheless a potential Re-Accumulation range worth watching, especially if price is able to clear these highs and turn them into support on the Monthly.
On the Weekly, the predicament is the same as late March.
A Weekly Close above the orange zone — as seen on the green-circled historical occasions — is needed to get price into that collection of Macro Downtrends above.
And probably even before that, turning these current highs into new support would be the more immediate step.
Those highs on the Weekly also correspond to the highs discussed on the Monthly, they're confluent.
Holding them as support would increase the probability of reclaiming the orange zone, and reclaiming the orange zone would increase the probability of revisiting the Macro Downtrends ahead.
Jupiter – JUP/USDT
This chart was shared a week ago, highlighting the fractal at play: Double Bottoms forming within clustering ranges, each cluster printing at a Lower High relative to the one before.
That pattern has persisted from range to range, and the jury is still out on whether the current cluster will be any different.
There has been a bit of upside since.
Generally, the clustering within these orange ranges has resolved at Lower Highs and it remains to be seen whether that continues here.
If Jupiter builds on this rally, price could revisit the very top of the current cluster.
From there, the key question is whether the Lower High pattern persists.
The fractal is still following through quite nicely, and it will be interesting to see if distribution develops closer to the higher end of this range and whether that Lower High materialises later on.