This is the third in a series of free newsletters I intend to publish, at least on a weekly basis but potentially more often depending on developments in the market. This one, which I hope to publish around each Sunday weekly close, will focus on updates to the weekly charts using TA and my custom indicator. If your favourite coin isn't included feel free to ask me to cover it.
Weekly chart updates
Bitcoin $btc
No change on $btc. It continues to be extremely strong and hasn't given the pre-halving dip which was expected.
$eth
Since last week, $eth has convincingly broken above the key price point of $2500. If $eth flips this area back into support next up is the $3000 target level.
inj
$inj had a decisive break from its all time high and is currently ranging between $30-$40. Since last week price has pushed back up to the key resistance of $40 and the question now is whether and when it will break through.
$htr
$htr has been range bound since the middle of 2022 and, unlike $link for example, has not yet made a convincing attempt at a break out. First target is the key psychological level of $0.1 and then a full range breakout at $0.12. Since last week price has rejected from the underside of the price trendline back to the current support level.
$vra
$vra has been coiling under a price trendline since the start of 2023 and a similar RSI trendline over the past few months. Once that's broken, the key horizontal resistance which should lead to price expansion is the key psychological level of $0.01. Since last week $vra has broken through its RSI trendline and above the first price flip level.
$woo
$woo has successfully broken out of and retested its bear market range. For upwards expansion, closes above $0.4 are needed and the next big test comes at the $0.6 level. Since last week price has pushed back up to the current resistance level.
$rune
$rune is another coin which has successfully broken out of and retested (close enough to doing so) its bear market range. It has now broken out of diagonal price resistance which should set up another test of the key $8 level. Since last week price has held above current support.
$trias
$trias is yet another coin which successfully broke out from its bear market range and is currently giving off serious cup and handle vibes. It looked last week like it was losing its RSI trendline and could be trending back for a retest of the $10 level but has instead broken out above key resistance and now needs to turn that into support.
$zen
$zen has been relatively disappointing, failing to break out of its bear market range and indeed trending in the wrong direction over the past several weeks. However, this week price has broken out and is currently rejecting off the key flip level.
$rose
$rose is another breakout and retest coin, with its momentum relatively slow since leaving its bear market range. Next resistance ahead is around the $0.16-0.17 level. Since last week price has just been gradually moving up.
$link
$link was one of the first alts to convincingly leave behind its bear market range and has now broken out from its shorter consolidation. The question is whether the top of that consolidation will be retested or $link will just push on through its current resistance level. Since last week there has been little change, with price sitting right at the current resistance level.
$avax
$avax looks like a lagging version of link, having broken out from its long-term range but not yet expanded above its current consolidation. No significant change since last week with price still below the price trendline.
$sol
$sol has been a strong performer since breaking out of its bear market range, and looks to be consolidating before a test of key resistance. First it needs to break through current resistance and there has been no change on that in the past week.
$rndr
$rndr has now pushed through resistance at the $5 range, and is making a push to the higher key resistance zone.
$dot
$dot has pushed off its key price support level and is flipping current resistance back into support. Key resistance ahead is a retest of the $9 range.
$grt
$grt now looks to have escaped from its bear market channel and made a clean break above $0.2. Key resistance ahead at $0.03 and that might be an obvious place for its move to cool off for consolidation.
$algo
$algo rejected hard off resistance at the $0.25 level and has found support back at $0.15. It is not currently giving off super strong vibes but a grind back to the the top of channel seems likely.
$hnt
$hnt has been making an impressive return from the dead, although I'd still say my purchase of a helium miner last bull run was one of my worst crypto decisions ever. $hnt has now broken back above a key flip zone which needs to be turned into support for further expansion upwards.
$tel
$tel hasn't come close to breaking out of its bear market range and is struggling to recover from a hack-related dump. A break of the weekly RSI trendline could signal an upside recovery but over the past week it has rejected from its current resistance level.
$xcad
$xcad has been extremely range bound and needs to convincingly break and hold above the $1.5 dollar level before pushing to break above $2. No change over the past week with price consolidating below that $1.5 range.
$pyr
$pyr price action has been super clean, breaking out from its beark market range and then rejecting hard off key resistance. Should now coil back up to retry that $8 key resistance level.
$bax
$bax had an early run at the end of 2022 out of a cup and handle pattern and since then has given back almost all of its gains and settled back into a consolidation channel. At these price levels a small moon bag purchase feels relatively low risk.
$doge
$doge is another coin which has struggled to break out from its bear market channel and price is currently in a bit of a no-man's land.
