Altcoin Watchlist #155

Hello and welcome back to the Rekt Capital Newsletter

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

• Ethereum (ETH)
• Ethena (ENA)
• Hyperliquid (HYPE)
• Chainlink (LINK)
• Sui (SUI)
• Zcash (ZEC)

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

Click the button below to leave a comment with your TA request!

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

Ethereum – ETH/USD

Ethereum is running its own version of the Summer Range that Bitcoin has been trading through, and the comparison is close enough to call it a genuine analog. 

The Range High here (black horizontal) traces back to the February-March lows, a level that has flipped into resistance, and price has now Monthly Closed below it after rejecting from there. 

There is a Range Low (black horizontal) sitting beneath it as well, mirroring the same structure Bitcoin has been working with this summer.

Where Ethereum diverges from Bitcoin is the blue level at $1,785.83 (blue horizontal), which price is now trying to reclaim as support. 

Price has Monthly Closed above this level, and the current pullback looks like a Post-Breakout Retest, an attempt to build a base here before making another run at the Range High.

This blue level has a mixed track record though. 

It has acted as a genuine reaction point in the past, but it also turned into an unreliable support back in 2023. 

In 2021 it triggered a full trend reversal, while 2022 saw it hold as little more than a minimal bounce region before rejecting hard on another occasion.

That history is why the Range High matters so much right now. 

If it keeps rejecting price, and if Bitcoin also fails to breach $66,000, the blue level would likely come under heavy sell-side pressure and its reliability could be questioned once again. 

In the short term a successful retest is still possible. But continued rejection at the Range High would keep that risk firmly on the table.

Ethena – ENA/USDT

ENA is shaping up as a possible Weekly Double Bottom, with two shallow bases carved out beneath the current range. 

A Weekly Close back above $0.1326 (blue horizontal) and a successful reclaim of that level as support would be the trigger. 

From there, a one-to-one Measured Move projects a breakout target beyond $0.2073.

Before any of that plays out though, ENA first needs to deal with the orange levels sitting directly overhead.

Those orange levels mark out the 2026 range that has acted as demand in the past and could just as easily flip back into supply on this current rebound. 

Reclaiming both as support matters, but $0.0905 (orange) in particular is the one to watch. 

Turning that level into support would open the door to a move toward the range high, and potentially into the kind of upside wicking seen previously.

The risk is this region rejecting again and reverting from demand back into supply, a pattern that has played out before. 

A Weekly Close and general stability at $0.0905 is what price needs to consolidate within this new range and build a real base. 

That stability would also keep the Weekly Double Bottom in contention as a setup still developing over time.