Gm friends,
The market has been a little sideways lately but that doesn’t mean you shouldn’t know what to expect! Rekt Capital has another edition of his TA so that you can know what’s around the corner.
DeFi dad also has a new airdrop stategy with Parcl where you can earn points with real estate perps.
And last but not least, Jesse has another Airdrop Report with lot’s of new opportunities.
Let’s go!
PS: For any crypto related questions please comment on the website.
In today’s edition, the following cryptocurrencies will be analysed & discussed:
- Woo Network (WOO)
- Coti (COTI)
- Polygon (MATIC)
- Band Protocol (BAND)
- UniSwap (UNI)
- VeChain (VET)
Let’s dive in.
Woo Network — WOO/USDT
Two weeks ago in the Altcoin Watchlist, we discussed a crucial retest for WOO:
The following week, we spoke about how it was successful to enable a +29% rally but also how another retest was on the horizon (green path):
And here’s today’s update:
WOO not only followed the green path — it tore right through it.
Generally, WOO has rally +118% since breaking out from its macro triangle (blue).
So what’s next for WOO?
WOO needs to hold the $0.42 black level as support if it wants to turn said level into a new Range Low.
Turning black into a new Range Low would likely enable a move via the orange path, as high as the red resistance above.
WOO has had four green weeks in a row so if somehow WOO upside wicks beyond this black $0.42 resistance but fails to reclaim it and even Weekly Closes below it again like last week, then perhaps a drop to the green $0.32 would be on the cards.
Let’s see how WOO behaves relative to the $0.42 level this week.
Coti — COTI/USDT
We’ve been covering COTI for a few weeks now, starting with the crucial Monthly Close in November:
Followed by the early December analysis talking about a successful retest of the top of the green historical demand area:
And finally today’s update:
COTI has rallied +40% to revisit the red Channel Top.
Technically, COTI has followed-through on its entire intra-pattern move via the green path as anticipated.
At this stage, really important COTI doesn’t print upside wicks beyond the Channel Top resistance like earlier this year of even late in 2022.
As that could signify strong resistance that could set COTI up for a pullback period within the red Channel, possibly to the lower parts of it.
Monthly Closing above the Channel Top followed by a retest of it would be bullish; even Weekly Closing followed by a retest of the Channel Top would be bullish.
COTI is at a crossroads when it comes to its next trend but with the luxury of being +40% up since late November.
Polygon — MATIC/USDT
A few weeks ago, we spoke about how MATIC had retested the top of its macro pattern as new support to rally higher:
Here’s this week’s analysis:
Yes, MATIC rallied some +18% but it wasn’t done sustainably.
Instead, it looks like MATIC may be going for another retest attempt of the top of the pattern to fully confirm the breakout.
MATIC had already performed the retest successfully in late November on the Weekly timeframe but the Monthly timeframe is showcasing as if a retest never occurred yet.
With MATIC dipping now, perhaps it’s…
