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Polkadot (DOT)
Polkadot (DOT)
$7.42 (6.71 %) View coin |
IOTA (IOTA)
IOTA (IOTA)
$0.228125 (10.99 %) View coin |
Ontology (ONT)
Ontology (ONT)
$0.328294 (8.61 %) View coin
Newsletter
19 Jul 2021

3 coins to keep an eye on | Issue #139

Hello everyone!

Last week, Bitcoin covered a 10.5% range before closing the week near $31,800 - about 7.2% lower than the week's opening price.

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The altcoin marketcap dropped with Bitcoin, beginning the week near $772 billion before ending the week near $694 billion.

As BTC continues to tighten in its two-month range, here are three altcoins selected by the community with events on CoinMarketCal next week to keep an eye on.

@tradeprophet


Polkadot (DOT)

Polkadot (DOT)

Price
$11.58 (-7.24 %)
฿0.00037673 (-4.84 %)

Market Cap
$11 708 585 029
฿381 002.61

Volume (24h)
$563 387 172
฿18 330.86

Exchange
KuCoin

DOT set a new low in its downtrend last week, reaching a nearly 77% retracement from its May high.

The most recent move down found some support in the daily gap beginning near $11.762, although this level is unlikely to end the bear trend. The weekly level around $9.989 may offer more substantial support. Continuation to the monthly level near $7.164 provides a higher probability target for the current bear trend.

Resistance begins near the current level at $12.770, which might be tapped this week or next week before the next leg lower. A more substantial rally could reach the consolidation beginning around $14.422. 

Any sustained bullish move in Bitcoin might prompt a stop run above the swing high at $17.668. This price also marks a resistance level on the weekly chart.

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IOTA (IOTA)

IOTA (IOTA)

Price
$0.640970 (-3.54 %)
฿0.00002085 (-1.06 %)

Market Cap
$1 783 221 787
฿58 028.74

Volume (24h)
$34 092 966
฿1 109.14

Exchange
KuCoin

After dropping nearly 77% from its April highs, IOTA hovers near its June low at around $0.6200.

While the downtrend continues, bulls might find some support near $0.5450, the approximate bottom of the monthly gap. However, while the market stays bearish, continuation to the weekly level at $0.4712 and the monthly level near $0.3773 seems likely.

Short-term rallies might reach $0.7586, although a more substantial retracement of the bearish trend could run the swing high into resistance around $0.9338. If the markets turn more bullish, the rally could run the swing highs at $1.1750 and $1.4800. 

If this move occurs, the daily gap and monthly level near $1.6600 may provide a ceiling.

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Ontology (ONT)

Ontology (ONT)

Price
$0.610427 (-4.02 %)
฿0.00001986 (-1.14 %)

Market Cap
$535 340 756
฿17 420.80

Volume (24h)
$128 364 127
฿4 176.57

Exchange
KuCoin

ONT found a low during late June inside weekly support after a nearly 83% drop.

Bulls could step in on the current retest of this region again, with $0.5980 possibly becoming support on the daily chart. However, a sweep of the equal lows near $0.5088, perhaps reaching $0.4200, is likely before any significant bullish trend reversal. If this stop run occurs, bulls might enter near $0.4086.

A break of the resistance near $0.6752 could continue through the July monthly open to run the relatively equal highs clustered just beneath the $0.7864 swing high. If this retracement occurs, high-timeframe resistance near $0.8325 and $0.8742 may be the target before the price resumes its downtrend or begins a higher-timeframe reversal.

If the market shifts to more bullish conditions, the swing high near $1.3288 and a wide area of resistance near $1.3288 will likely cap the first impulse.

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