GM friends,
Welcome back to another Premium Investor Report.
Today, we’ve got lot’s of fun airdrop insights, including part 3 of our EigenLayer airdrop strategy featuring ezETH by Renzo.
We’ve also got some altcoin TA from Rekt to help you look ahead to what the markets might have around the corner.
Let’s not waste any more time though.
Let’s go!
PS: For any crypto related questions please comment on the website.
Let’s dive into today’s Altcoin Watchlist.
In today’s edition of the Newsletter, the following cryptocurrencies will be analysed & discussed:
- Polkadot (DOT)
- UniSwap (UNI)
- Polygon and Theta Token (MATIC & THETA)
- VeChain (VET)
- SushiSwap (SUSHI)
Let’s dive in.
Polkadot — DOT/USDT
On Twitter (X), we spoke about how DOT would be going for a pullback into the green region in an effort to reclaim green as new support:
DOT is now following the blue path:
DOT is in the process of retesting the green area as new support.
It’s important to remember that DOT experienced strong resistance at this very same area back in late 2020 but also in early 2023.
Green acted as resistance whereas now it has the chance to flip into new support.
A successful retest here would enable an over +30% rally to the Range High resistance.
If price holds this green area as support, this would mean two important things.
The first we’ve already touched upon — an old resistance would flip into new support
But we must also emphasise a second things and that’s the possibility of the Range High resistance itself weakening:
When DOT rejected from the Range High resistance of $8.60 (black), Polkadot retraced -58% in total.
However on this rejection, DOT has retraced only -25% in total.
And as long as the green area holds as support, we’ll have confirmation that the Range High resistance is weakening as a point of rejection which would of course increase the chances for a breakout beyond it once it is revisited as some point in the future.
Retest is in progress and it’s an important retest for more reasons than one.
UniSwap — UNI/USDT
As a preface to today’s analysis, here’s last week’s analysis on UNI:
And here it today’s update:
Retest is in progress when it comes to the top of the blue channel.
Successful retest here would confirm the breakout in full and confirm the new macro uptrend.
Polygon and Theta TOKEN — MATIC/USDT & THETA/USDT
Both MATIC and THETA make the list due to one thing.
And that’s the fact that both have broken out from their macro market structures and may be pulling back to retest the top of their patterns as new support to fully confirm the new macro uptrends:
So essentially, they are very similar to UNI’s price predicament.
MATIC is pulling back with the intent to retest the top of its pattern, whereas THETA is doing the same:
Can both retest their respective in picture-perfect fashion?
A few weeks ago, no Altcoin was retesting their patterns, it looked like they were just breaking out without looking back.
But with the market pulling back a bit, more and more Altcoins are actually performing their retesting phase, with a few Altcoins actually going for their retests in picture-perfect manner.
Both MATIC and THETA should be able to perform…
