Altcoin Watchlist #169

Hello and welcome back to the Rekt Capital Newsletter

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

• Ethereum (ETH)
• Dogecoin (DOGE)
• Bittensor (TAO)
• Non-Playable Coin (NPC)
• Litecoin (LTC)
• Stellar (XLM)

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

Last week when ETH was rallying, we spoke about how Ethereum had Monthly Closed below the $2300 (black) support level, technically setting up for a bearish retest.

And most recently, we've seen ETH reject from $2300, now delving deeper into the orange pool of historical liquidity.

In fact, whenever ETH would Monthly Close above the $2300 level (black), it would wick into the orange region for a volatile retest but ultimately preserve the $2300 level via a Monthly Close above it.

Now, ETH has actually Monthly Closed below the $2300 level and turned it into new resistance, which means that delving deep into the orange region is now a possibility, with scope for even deviation below the orange region into as low as the black Macro Higher Low (green box).

Generally, the orange area needs to hold and price will need to Monthly Close above the bottom of the orange box to keep it as support on this current retest.