Altcoin Newsletter #296
Features analysis on Altcoins such as SUI ENA CPOOL AVAX XLM PENGU
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:
- Sui (SUI)
- Ethena (ENA)
- Clearpool (CPOOL)
- Avalanche (AVAX)
- Stellar (XLM)
- Pudgy Penguins (PENGU)
These Altcoin TA requests are made by valued readers of the Rekt Capital Premium Newsletter.
Let’s dive in...
Sui – SUI/USDT
On the Weekly, SUI is trying to replicate its early 2024 and mid-2024 retests of the orange region (green circles).
But price is struggling to do so, and this price action looks very different to what we saw back then.
That's why, if SUI loses $0.9686 (black horizontal), price could potentially start clustering in a right shoulder fashion (right green curve).
This cluster could develop in and around $1 to roughly $0.85, with the black diagonal acting as the key neckline, and this is generally where price will try to hold as support.
Failing this region would probably see SUI drop into the blue cushion, a historical demand zone, to develop that right shoulder a bit more.