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 Tokemak Autopilot: Simplify LPs and maximize yield with Autopools.
- 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:
- Vanar Chain (VANRY)
- Injective (INJ)
- Fetch ai (FET)
- Open Campus (EDU)
- Optimism (OP)
- Celestia (TIA)
Vanar Chain — VANRY/USDT
Over the past few weeks, we discussed VANRY and its Falling Wedge-like structure and how it needed to retest the blue level of $0.088 as support to follow through on its green path:
VANRY then Weekly Closed above the top of its blue pattern to retest it as support in an effort to confirm a breakout from it:
And here’s today’s chart:
Overall, VANRY followed its green path to completion, allowing for a breakout from the blue downtrending channel.
But perhaps most importantly, this turn of technical events has enabled a challenge of the crucial Macro Downtrend, dating to mid-March 2024.
VANRY is trying to muster its way beyond this Macro Downtrend and a Weekly Close beyond it would be a compelling trigger for price to challenge for a breakout into a new macro uptrend.
VANRY is on the cusp of a new macro uptrend, it just needs to Weekly Close above it to potentially kickstart the process.
Injective — INJ/USDT
A few weeks back, we spoke about INJ and how it was still consolidating inside its Downtrending Channel (light blue):
Since then, INJ successfully reclaimed the black level of $18.02 to enable a breakout from this Falling Wedge structure:
This breakout has resulted in a +21% move to the upside, revising the orange Range High at $23.46.
For INJ to enjoy trend continuation towards the red boxed resistance at around $27.50, it would need to Weekly Close above the orange Range High first.
Until then, INJ will always be potentially positioned for a pullback into the top of the Wedge it had broken out from, if price really needs to go for a post-breakout retest attempt to fully confirm the breakout.
These two blue circles summarise these two key levels:
The blue circle at the orange Range High emphasises the need for a Weekly Close above said level to rally higher, whereas the lower blue circle demonstrates the possibility for a post-breakout pullback.
Ultimately, while INJ has broken out from the structure, it still is sandwiched between the $18.02 Range Low (black) and the orange Range High at $23.46, therefore still technically consolidating.
While the breakout from the pattern means that a new uptrend is on the horizon, INJ could potentially spend a little bit of time in this aforementioned re-accumulation range first in preparation for building on its newfound momentum.
Fetch — FET/USDT
Last week, we touched upon FET’s post-breakout retest attempt (orange circle):
FET broke the Macro Downtrend and retested it as support to rally into a +26% uptrend:
FET has revisited the red Range High on this +26% move to the upside.
However, for FET to rally higher, it would need to Weekly Close above the…
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.
