Gm friends,
Welcome back 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 how to earn up to 15% APY on Near’s top DeFi app.
- 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:
- Injective (INJ)
- Solana (SOL)
- Bonk (BONK)
- Optimism (OP)
- Vanar Chain (VANRY)
Injective — INJ/USDT
INJ is showcasing initial signs of reclaiming the black $18 level as support, despite the fake-breakdown from two weeks ago.
Any dips into the black $18 level would be a retest attempt and price stability above $18 is crucial for this early-stage bullish divergence to play out.
The RSI is developing a Higher Low (green) whereas the price action may be developing a Lower Low (blue) to bring about a budding bullish divergence.
Hold $18 (black) as support and INJ could challenge for a revisit of the red $21.68 resistance.
More, the RSI itself may be developing an Ascending Triangle; the green Higher Low is the base of it and the red boxed resistance the top of it.
Breaking the red resistance on the RSI would not only see a breakout on the RSI but it would confirm the validation of the bullish divergence and likely precede upside in INJ’s price action.
Solana — SOL/USDT
SOL is still sitting on the ~$145 (blue) Monthly level, as it has been doing for the past 2.5-months.
Of course, price has been downside wicking as long as into the ~$120 area (orange and slightly below) as part of a volatile retest, but SOL has maintained itself above $145 every time such a volatile downside wick occurred.
Continued stability at $145 would enable a move via the red path towards $165 (blue).
Price strength confirmation at current levels is crucial now.
So far, so good.
TO READ THE REST OF OF REKT’S MARKET ANALYSIS, CLICK HERE
Stablecoin Farming: Earn Up to 15% APY on Near’s Top DeFi App – Burrow
Before we get started, this is not a recommendation or endorsement to buy any token(s) mentioned.
This week, we cover Burrow Finance, NEAR’s top DeFi protocol, as they prepare for the upcoming release of Burrow V2 in 2024.
Did you know that Near currently ranks #1 among L1 blockchains for daily active addresses, meaning unique on-chain wallets interacting with protocols?
Source: Artemis Terminal
Within the NEAR DeFi ecosystem of $245M in deposited liquidity, Burrow Finance is the most popular lending and borrowing app with $181M TVL.
Burrow is a non-custodial, pool-based money market that enables users to supply assets to earn interest and to borrow against them to unlock liquidity.
Burrow is similar to Aave or Compound, but runs natively on the NEAR blockchain, a proof-of-stake L1.
Burrow aims to build liquidity for interest-bearing assets, especially staking derivatives such as stNEAR and stETH on Near.
For example, users can deposit stNEAR as collateral, borrow more NEAR, swap for stNEAR and redeposit to create a leveraged staking position, or even borrow a stablecoin to create a self-repaying loan.
Burrow V2 is still under development but promises a number of exciting…
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.
