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 Dinero apxETH: Unlocking DeFi’s highest ETH liquid staking yield.
- 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)
- Optimism (OP)
- Vanar Chain (VANRY)
- TrueFi (TRU)
- Bonk (BONK)
Solana — SOL/USDT
Solana is positioning itself really well for a bullish Monthly Close.
After all, the black level of $165 denotes a May and June resistance which has been broken this month.
With the Monthly Close just around the corner, SOL has a very real chance of Monthly Closing above the old black resistance in an effort to potentially reclaim it as support in the future.
Following a Monthly Close above the black level, any dip that gets SOL closer to the $165 would be considered a retest attempt.
And if the retest of that level is to become a little bit more volatile to the downside, whereby price would deviate below the $165 level briefly, then the path could even look like this, with a dip as low as even to the $140s:
Of course, this retest doesn’t need to happen however textbook TA suggests that whenever an old resistance is broken, it is often reclaimed into new support afterwards in an effort to ensure trend continuation to the upside later.
So will the retest occur in August?
And if so, how volatile will it be?
Optimism — OP/USDT
OP is losing the Macro Higher Low, dating to mid-2022 (purple).
The black $1.91 Range High resistance (black) is approximately confluent resistance with the aforementioned Higher Low and both are acting as a point of rejection for the moment.
OP will need to Monthly Close above the $1.91 Range High to avoid potentially turning this level into new resistance which could send price to the $1.33 Range Low (black) as part of intra-range consolidation between $1.33-$1.91.
After all, last month OP Monthly Closed below the $1.91 (black) level to lose it as support and this month price has upside wicked into it from the underside, as if to confirm it as new resistance.
Turning said level into resistance could thus precede downside continuation deeper in the black-black range.
TO READ THE REST OF OF REKT’S MARKET ANALYSIS, CLICK HERE
Dinero apxETH: Unlocking DeFi’s Highest ETH Liquid Staking Yield
This week, we cover the highest available liquid staking yield for ETH with apxETH at 9.2% APR!
In December 2023, Pirex ETH (pxETH) went live on Ethereum Mainnet, launched by a team now called Dinero, formerly known as Redacted.
Launched in December 2021, Redacted was created to empower on-chain liquidity, governance, and cash flow for DeFi protocols. Their suite of products include the Redacted Protocol, Pirex, and Hidden Hand. The product we will focus on today is Pirex, for creating liquid wrappers for auto-compounding and tokenization of future yield/vote events.
Similar to frxETH vs sfrxETH by Frax, pxETH is a two-token design for Ethereum liquid staking, consisting of pxETH and apxETH. Instead of the usual one token design like Rocket Pool or…
