Altcoin Watchlist #157

Hello and welcome back to the Rekt Capital Newsletter

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

• Sui (SUI)
• Zcash (ZEC)
• Jupiter (JUP)
• Clearpool (CPOOL)
• Cartesi (CTSI)
• Hyperliquid (HYPE)

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.

Sui – SUI/USDT

Sui Monthly Closed beneath the blue $0.70 level over the past two months, technically positioning price for a bearish retest of said level, just like the one from 2023 (light blue circle).

Back in 2023, price upside wicked beyond the black level of resistance but ultimately Monthly Closed below this level to kickstart the breakdown process.

With SUI now looking to enjoy a bounce, it's key to observe whether this will be another bearish retest.

SUI would need to Monthly Close above the blue level of $0.70 to assuage this bearish bias; Weekly Closes and Daily Closes haven't been reliable in building out bases around this level, which is why the Monthly Close would be the most important.

Another Monthly Close below the $0.70 level could continue to encourage bearish bias.

Zcash – ZEC/USDT

ZEC is once again trying to position itself in for a reclaim of the red region as support.

The previous three attempts (red circles) positioned price for retests that may have even initially been successful but ultimately ended up as failures before additional downside.

In saying that, ZEC is now trying to break the multi-month Lower High resistance (thin black downtrend) in an effort to once again try and muster a Weekly Close inside the red region but this time with a different result - a successful reclaiming retest.

A Weekly Close inside the red region would set price up for a post-breakout retest and that could even mean that ZEC could even dip into the very Lower High it is now breaking for that retest.

This is the 4th time of trying for ZEC to exact a successful reclaim of the red region as support.

Can price finally do it?

The Weekly Close inside the red area is needed to set up the retesting candle but it is indeed the retesting candle that will be most important here.