Gm friends,
Welcome to another Premium Investor Report.
Let’s jump 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 the best DeFi looping strategies in uncertain market conditions.
- 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:
- Solana (SOL)
- Bonk (BONK)
- Optimism (OP)
- TrueFi (TRU)
- Vanar Chain (VANRY)
Solana — SOL/USDT
Last week, we discussed potential downside paths for Solana:
Since then, the entire crypto market experienced a deep correction but here is today’s update:
Solana followed the lower red path and then some, even downside wicking into the low $100s.
However, price has since recovered a lot of its downside and has reclaimed this blue over 2-month support, this month’s August monthly candle behaving as if it had successfully retested the blue level of ~$145 in a volatile way.
This month’s downside wick saw SOL dip all the way to the next major Monthly support at ~$120 (orange) which has been holding as support for almost 6-months now.
For the first three months, SOL held the orange monthly level as support via candle-bodied lows whereas for the most recent three months, SOL has been holding this same level but via downside wicking lows.
Over the past three months, it seems like the premium buying behaviour at the $120 orange level is much stronger than before and there is an evident aggression in this buy-side behaviour as evidenced by the downside wicks.
The premium buying behaviour is strong to the point where SOL has managed to perform its most recent Monthly Closes above a much higher monthly level of ~$145 (blue).
As long as SOL continues to hold blue ~$145 as support, it will be positioned for a move to the $165 level (blue resistance) in an effort to follow-through on the red path after all.
Turn the blue $145 level into resistance and SOL may need to drop back down into the orange ~$120 level again.
For the moment, ~$145 is holding successfully as support.
BONK — BONK/USDT
Last week, we discussed BONK’s failed retest in a bit of detail:
Here is today’s update:
That failed retest (red circle) meant that price indeed revisited the Higher Low and then some, even breaking down from it via a Weekly Close below the Higher Low.
If BONK soon rebounds but turns this same Higher Low into new resistance, that would fully confirm the breakdown into downside continuation to as low as the black level below.
However, BONK has the entire week to try to reclaim this Higher Low as support; this Higher Low a confluent area with the black level above.
Reclaiming the Higher Low as support would see BONK reclaim the structure as a whole.
TO READ THE REST OF OF REKT’S MARKET ANALYSIS, CLICK HERE
A Guide to the Best DeFi Looping Strategies In Uncertain Market Conditions
This week, taking into account the uncertain market conditions, we review the best DeFi looping strategies to amplify blue chip yields that can earn double and even triple-digit yields, regardless of whether the crypto market goes up or down.
First, a few of the major DeFi yield-earning…
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.
