Gm friends,
Welcome back to another edition of the Wealth Mastery Premium Investor Report.
Let’s go!
Here’s what’s in today’s issue:
- Rekt Capital has the latest technical analysis for you on the market.
- Defi Dad has a airdrop strategy for BitFlow: The Curve Finance of Stacks.
- Jesse has a ton of hot new airdrops for you.
For any crypto related questions please comment on the website.
In today’s edition of the Wealth Mastery Newsletter, the following cryptocurrencies will be analysed & discussed:
- Ethereum (ETH)
- Dogecoin (DOGE)
- Coti (COTI)
- Avalanche (AVAX)
- Theta Token (THETA)
- VeChain (VET)
- Kyber Network (KNC)
Ethereum — ETH/USD
Ethereum hasn’t been able to break its fall on its current retrace.
A few weeks ago, we spoke about a scenario where it could reject from the blue circled area, which could turn into new resistance:
Here is last week’s analysis:
And lastly, here is today’s analysis:
Ethereum has lost the black level as support and is now getting increasingly close to tapping the Range Low at $2791 (orange circle).
It’s important to emphasis that the previous revisits into the orange circled Range Low occurred via downside wicks whereas now ETH is approaching this level with candle closes.
This just showcases a weakening in the support strength of this region.
Going forward, if ETH rebounds from here to turn the black level into new resistance, then the chances would be very highs of the orange circled level giving way as a support.
Generally, ETH hasn’t lost this red level as support in years so it would be very interesting to see how price reacts to that level.
On the Monthly, it all comes down to one key level:
The light blue psychological level of $3000.
In mid-2021 ETH held this level while downside wicking into the orange circled level before moving higher.
Last month, ETH was able to preserve this level as support but this month it is slinking below it; lots can still change until the end of May which is why it is important that $3000 doesn’t turn into new resistance in the coming week or two, because that could really weigh down on the orange circled support.
Dogecoin — DOGE/USDT
Over the past few weeks, we’ve been discussing DOGE’s Macro Downtrend and the Macro Retest of it as new support:
DOGE has been able to rebound from the Macro Downtrend, successfully retesting it as support, but to move higher it will need to reclaim the green level as support:
That’s the level that is keeping DOGE from rising higher.
Until that green level is reclaimed as support, DOGE will continue to meander, maybe even try to form a new Higher Low.
TO READ THE REST OF OF REKT’S MARKET ANALYSIS, CLICK HERE
BitFlow Airdrop Strategy: The Curve Finance of Stacks
Before we get started, this is not a recommendation or endorsement to buy any token(s) mentioned.
This week, we cover an up-and-coming Stacks AMM optimized for trading stable assets with minimum slippage and fees, called BitFlow!
Inspired by Curve Finance, BitFlow is a decentralized exchange (DEX) that enables users to trade and earn with pools of highly correlated assets (ie stablecoin pools or like-kind pairs such as STX-stSTX).
Launched in December 2023, BitFlow leverages tech such as Partially…
