Altcoin Watchlist #149

Hello and welcome back to the Rekt Capital Newsletter

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

• Dogecoin (DOGE)
• Hedera Hashgraph (HBAR)
• Hyperliquid (HYPE)
• Injective (INJ)
• Jupiter (JUP)
• Worldcoin (WLD)

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.

Dogecoin – DOGE/USDT

DOGE has broken down from its macro range, defined by the orange zone as the Range High and the green zone as the Range Low.

Price is now entering what has become its new home; between the green zone below and the orange zone above.

On the Weekly, the breakdown is fully confirmed. 

Bearish retesting developed post-breakdown, pressing price back against the underside of the broken structure before rejecting lower. 

The blue pathway has since played out, with downside continuation now underway.

Price is currently sitting at a region where historical relief rallies have emerged, including the 2023 rebounds. 

A Monthly Close at these levels could set up a similar move back toward the orange zone and that remains a possibility, particularly if Bitcoin experiences the typically green July that has historically lifted altcoins with it.

That said, any rally would likely be capped by the orange zone before distribution lower resumes. 

Short-term traders may find some relief over the next few weeks, but mid-term swing traders should expect the deeper regions of this range to be explored over time.

There is also space for a Monthly bearish retest to develop.

Where price closes at current levels and then attempts to reclaim the old Range Low as new resistance. 

That has not happened yet, but technically the room exists for it. 

For now, the short-term path holds some uncertainty, while the longer-term direction points toward the depths of this new range.

Hedera Hashgraph – HBAR/USD

HBAR has broken down from its wedging structure on the Weekly, posting back-to-back Weekly Closes below the wedge. 

That structure has since flipped into resistance, and price is now distributing from beneath it.

A Monthly Close below the green historical reversal zone would confirm the breakdown from this broader region of demand.

A zone that has previously acted as a base for macro reversals.

The 2022 sequence offers a direct historical parallel.

Four years ago, a red June was followed by a green July, only for August to cancel that rally and send price significantly lower. 

A similar sequence may be developing now: June potentially closing red or flat, July seeing a bearish retest, and August reversing that move to push price deeper.

The implication over time is significant. 

Should this green zone be lost completely, there is scope for HBAR to eventually reach the multi-year blue diagonal uptrend trendline below, a level that has underpinned the macro structure since the early cycle lows.