Altcoin Market Update
LINA, DUSK, FET, MATIC, SUSHI, ATOM - all covered
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.
In today’s edition of the Rekt Capital Newsletter, the following cryptocurrencies will be analysed and discussed:
Linear Finance (LINA)
Dusk Network (DUSK)
Polygon (MATIC)
Fetch ai (FET)
SushiSwap (SUSHI)
Cosmos (ATOM)
Let’s dive in.
Linear Finance - LINA/USDT
As a preface to today’s analysis on LINA, here is my view on LINA featured in the mid-May edition of the Newsletter:
And here’s an update:
LINA rallied +100% after successfully retesting the Range Low as support before rallying to the Range High resistance, even overextending beyond the Range High considerably for a total +186%.
Since rejecting at around the Range High resistance area, LINA formed a new macro Lower High (red) and has rejected tremendously, dropping deeper into the range.
At this stage, LINA is now testing the technical uptrend line that price has been maintaining to support this exponential move (blue).
If this technical uptrend lapses, then there is a possibility that LINA would drop to the Range Low for a retest attempt, but this time in a downtrends opposed to a few weeks ago when price was in a clear uptrend.
Generally, the Range Low and Range High levels are in all likelihood going to be the most reactive levels for LINA.