Gm friends,
Welcome back to another Premium Investor Report.
Let’s jump right in!
Here’s what’s in today’s issue:
- Rekt Capital has the latest technical analysis for you on the market.
- Defi Dad has a tutorial on how Index Coop’s leverage tokens work for ETH and BTC.
- Jesse has a ton of hot new airdrops for you.
For any crypto related questions please comment on the website.
In today’s edition, the following cryptocurrencies will be analysed & discussed:
- Optimism (OP)
- Render Token (RNDR)
- Ondo (ONDO)
- Vanar Chain (VANRY)
- TrueFi (TRU)
- Bonk (BONK)
Optimism — OP/USDT
Last week, OP was testing the Macro Higher Low as support and now price is slinking below it.
This could still end up as a volatile retest. After all, this has been the case of a few notable occasions throughout OP’s price history.
Could history repeat?
If this retest turns out to be successful, then this macro technical uptrend will have been protected which would in turn likely act as the bottom of this correction, only to predispose a price reversal here.
Render Token — RNDR/USDT
RNDR consolidate within a Macro Range for four consecutive months, successfully retesting the Range Low as support in the process.
In fact, RNDR has closely mimicked BTC in that respect.
However, much like BTC in recent weeks, RNDR has also lost ground and dropped to lower levels.
For RNDR, price is now in the process of retesting a Higher Low that is connecting the downside wicks in RNDR’s Monthly Candles.
A successful retest here would be a good sign to price rallying back to the recently lost Range Low.
If this Higher Low indeed does hold, then price would need to reclaim the Range Low to avoid confirming it to new resistance.
As we’ll see from the many Altcoins covered today, this is a recurring trend that coins will have to wrestle with in the near future.
That is, will lost supports flip into new resistances? Or will those lost supports actually be reclaimed to confirm fake-breakdowns?
TO READ THE REST OF OF REKT’S MARKET ANALYSIS, CLICK HERE
Understanding How Index Coop’s Leverage Tokens Work for ETH and BTC
Before we get started, this is not a recommendation or endorsement to buy any token(s) mentioned.
This week, we deep dive into automated leverage tokens by IndexCoop for those looking to gain more exposure to ETH or BTC, without having to worry about liquidations or funding rates.
First, leverage products are fully collateralized tokens enabling greater exposure to ETH and BTC by tracking target leverage ratios and automatically rebalancing as the token prices change. All of this is built on the Index Protocol and integrated lending/borrowing markets such as Aave.
The Index Coop offers “long” products such as 3x and 2x leverage tokens using WETH or WBTC as collateral, borrowing USDC which is then swapped for more of the underlying asset, and redeposited into Aave until the target leverage is achieved.
Alternatively, “short” products use a similar looping process, where USDC collateral is used to borrow WETH or WBTC, sell for more USDC, collateralize the USDC, and repeat.
Both these long and short products adjust leverage ratios through rebalancing within defined bounds to prevent excessive adjustments. The automated rebalancing…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
