Altcoin Watchlist #163
Features analysis on Altcoins such as CPOOL PENGU SUI AERO ONDO NEAR
Hello and welcome back to the Rekt Capital Newsletter
In today’s edition, the following cryptocurrencies will be analysed & discussed:
- Clearpool (CPOOL)
- Pudgy Penguins (PENGU)
- Sui (SUI)
- Aerodrome Finance (AERO)
- Ondo (ONDO)
- NEAR Protocol (NEAR)
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.
Clearpool – CPOOL/USDT
We covered Clearpool at length last week, so today's preface will be brief.
On the Weekly timeframe, CPOOL has developed a Double Bottom sandwiched between two red regions: the Range Low demand area below and the Range High supply area above.
Previously, whenever price clustered just beneath the Range High resistance, CPOOL would produce multiple consecutive upside wicks beyond it.
This time, however, CPOOL has produced a Weekly Candle above the Range High, which is exactly what we've been looking for in order for a 1:1 Measured Move to play out.
That nascent breakout has now shifted into a post-breakout retest, which is still in progress.
With September drawing to a close, a Monthly Close above the Range High would be quite important, as it could set up the retest going into October.
The Weekly Close will follow a few days later.
As long as CPOOL keeps the Range High as support, as it has done thus far, the retest would be successful and confirm a breakout from the range into trend continuation to the upside.
That breakout would open up a 1:1 Measured Move all the way back into the orange region of resistance over time.