Altcoin Newsletter #288
Features analysis on Altcoins such as AERO JASMY FET JUP LTC XLM
Welcome to the Rekt Capital Newsletter, a resource for investors who want to better navigate the crypto markets with the help of cutting-edge crypto research and unbiased market analysis.
In today’s Altcoin newsletter I cover the following Altcoins – specifically:
- Aerodrome Finance (AERO)
- Jasmy Coin (JASMY)
- Artificial Superintelligence Alliance (FET)
- Jupiter (JUP)
- Litecoin (LTC)
- Stellar (XLM)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Aerodrome Finance – AERO/USDT
Over the past several weeks, we spoke about how AERO wanted to build a base at its purple historical demand area:
Last week, AERO rebounded +24% from the multi-week Higher Low price had developed, rallying right into the black diagonal resistance of its current wedging market structure:
Here's today's update:
AERO further built on this rally, experiencing a +40% move towards the red resistance above.
However, price is teetering in and around the black diagonal resistance and it isn't yet clear whether price will be able to sustainably breakout from the wedging structure or not.
AERO will need to not just Weekly Close above the black diagonal and black horizontal ($0.51) but price will need to follow-through with a successful post-breakout retest as well.
Recent history showcases that failed post-breakout retests of the black diagonal resistance are a feature for AERO which is why that successful retest is so important.
On the Monthly timeframe, price is pressing beyond its potential Monthly Bull Flag:
A Monthly Close just like this could precede a dip in an effort to exact a post-breakout retest of the top of this market structure; any volatile retest could even tag the light blue level within the pattern and extreme volatility could see a wick into even the very bottom of the Flag.
But as long as AERO is able to Monthly Close above the Bull Flag top, then a post-breakout retest would be a possibility.
And so in the event of an unsuccessful breakout on the Weekly timeframe, it would make sense for AERO to try to exact that aforementioned Monthly retest.