Altcoin Watchlist #164

Hello and welcome back to the Rekt Capital Newsletter

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

• Clearpool (CPOOL)
• PancakeSwap (CAKE)
• Solana (SOL)
• Celestia (TIA)
• Uniswap (UNI)
• Litecoin (LTC)

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.

Clearpool – CPOOL/USDT

CPOOL is in the process of trying to retest a key region: the slim red region that acts as the validation point for its Weekly Double Bottom.

Price has Weekly Closed above this region and post-breakout retested it into new support, but trend continuation hasn't followed from here just yet.

So this week's candle needs to show the same level of retesting as last week's.

What we want to avoid is a Weekly Close below this validation point, as that would position CPOOL to potentially flip it back into new resistance and resynchronise price with the red-to-red range.

This is a retest CPOOL is fighting for, to try and enable the 1:1 Measured Move breakout from the Double Bottom towards the orange region over time.

And it's not just a Weekly Double Bottom.

It is a Monthly Double Bottom as well, so the same principle applies.

We've seen in the past how key this red validation point has been as support.

In 2022 and 2023, however, support here was weakening, producing lesser and lesser rallies.

Now CPOOL has the chance to rejuvenate this support and strengthen it with a new flurry of buy-side interest.

That makes this retest really important on both the Weekly and the Monthly timeframe.