With the first purchases using around $12,000 in mid-August, we have been tracking the gains in our newsletter portfolio. September was a great entry month, and October has been building consolidation into the last two months of the year. With the recent changes to Ethereum, Altair upgrade, and EIP-1559, the pricing of November and December could continue to have lots of upwards momentum. Let’s get to the charts.
If you are interested in the long-term outlook of cryptocurrency, check out my article on Quantitative Easing.
ALCX: 2HR chart
This chart has seen a ton of growth and is reaching previous support levels of around $618. with the consolidation for a few months and bottoming out in the 200 dollar range, I think this has a ton of potential. With the Alchemix DAO releasing a v2 shortly and the addition of other assets such as WBTC, I can see this continue once it breaks $618 with the next stop at 985-1000. If you are not interested in buying the governance token directly, you can earn ALCX through their site by lending through Saddle.finance and staking your LP tokens.
SOL 2HR:
Holy shit, this has done exceptionally well. We entered mid-August, and SOL has been our most significant portfolio gain in the newsletter fund. The RSI is showing a consolidation pattern after peaking recently, and I think we will see consolidation in the 180-225 range for a while since this is a new ATH. If you followed this trade, I am looking to exit and cover the entry position by selling off 17 SOL to increase ALCX holdings.
MATIC: 2HR
I love the consolidation in this chart. Polygon has proved itself many times, especially with the first-mover advantage of shipping an already working layer 2. We are right at the door of the previous ATH reached in May, and the Kepler bands remaining condensed while moving upwards usually leads to more rapid movement over a short period. I am watching and expect ATH prices reached sometime this month.
Overall I am of the same mindset that I have been the last couple of months. Continual grinding of upwards momentum and once BTC reaches a peak, quick movements into blue-chip Altcoins are likely scenarios. The massive increase of meme coins is usually a good indicator of potential fresh capital entering the space.
That’s all for the free weekly Crypto Crier. If you enjoyed this article, please like and share. If you have any questions, please leave a comment, and I can answer your questions further. As with all of my writing, this is not financial advice and is my opinion. I cannot stress enough how important it is to do your own research on all financial endeavors. I hope these newsletters can help investors realize the current financial systems’ downfalls and usher in a more equitable system without middlemen.
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