Altcoin Watchlist #161
Features analysis on Altcoins such as ETH TIA ENA HYPE CPOOL SOL
Hello and welcome back to the Rekt Capital Newsletter
In today’s edition, the following cryptocurrencies will be analysed & discussed:
- Ethereum (ETH)
- Celestia (TIA)
- Ethena (ENA)
- Hyperliquid (HYPE)
- Clearpool (CPOOL)
- Solana (SOL)
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
On the Monthly, Ethereum could be setting up for a post-breakout retest of $2,275.2 (black).
Whenever ETH has broken beyond the black level in the past, retesting it as support has enabled additional upside over time (green circles).
That has held whether the move turned into trend continuation or a trend reversal.
So will ETH go in for that retest, and will it be a volatile one?
ETH has produced volatile retests of the black level many times before, and it's just a matter of how long the downside wick will be.
In fact, there is a high probability of price revisiting the black level and producing some sort of meaningful downside wick below it; in saying that, high probability doesn't mean a guarantee and so risk management parameters still need to be implemented and maintained.
But as long as ETH is able to Monthly Close above the black level, that retest, however volatile, would be more of a bullish trigger than not.