IoTeX (IOTX)
IoTeX (IOTX)
$0.160954 (-14.17 %) View coin |
Pundi X (PUNDIX)
Pundi X (PUNDIX)
$1.37 (-7.70 %) View coin |
WOO Network (WOO)
WOO Network (WOO)
$0.890596 (-21.39 %) View coin
Newsletter
11 Oct 2021

3 coins to keep an eye on | Issue #151

Hello everyone!

Last week, Bitcoin covered a 20.5% range before a strong bullish weekly close near $54,700 - about 13.4% higher than the week's opening price.

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The altcoin marketcap climbed slightly with Bitcoin, beginning the week near $1.23 trillion before ending the week near $1.27 trillion.

While Bitcoin contends with its final higher-timeframe resistance before possible all-time highs, here are three altcoins selected by the community with events on CoinMarketCal next week to keep an eye on.

@tradeprophet


IoTeX (IOTX)

IoTeX (IOTX)

Price
$0.071886 (-0.47 %)
฿0.00000126 (-3.38 %)

Market Cap
$683 788 981
฿12 075.28

Volume (24h)
$87 605 113
฿1 539.95

Exchange
KuCoin

Early August's stunning 600% rally retraced 68%, but IOTX may be setting up for its next bull cycle.

Late September's consolidation around $0.05583 broke out to the upside with an explosive move and retrace. This move supports the idea that the consolidation might have marked the bottom. This area could provide support again on a retest - perhaps after traders "sell the news" of Monday's hardfork while waiting for the next event.

Closer to the current price, zones near $0.06292 and $0.06694 might also see interest from bulls during any sharp retracements - perhaps caused by any sudden moves in Bitcoin. These areas also have confluence with the 9, 18, and 40 EMAs, which flipped bullish last week.

If Bitcoin finds its top and performs its classic sudden drop, a relatively broad zone between $0.04500 and $0.03882 could support the price or mark a future accumulation zone. This area is near the 78.6% retracement level of the summer's upward move.

The price is currently battling resistance near $0.07340, where long wicks show that sellers are still unloading their supply. If this level breaks, the next probable resistance begins near $0.09300, just above the current range high. A reclaim of this level might target potential resistance near $0.1117, then continue to much higher prices.

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Pundi X (PUNDIX)

Pundi X (PUNDIX)

Price
$1.68 (-4.56 %)
฿0.00002952 (-7.55 %)

Market Cap
$431 408 953
฿7 618.63

Volume (24h)
$8 999 181
฿158.41

Exchange
KuCoin

From mid-June to today, PUNDIX (formerly NPXS) has been consolidating in a wide range between $2.245 and $0.578 after its deep Q2 2021 retracement.

The 9, 18, and 40 EMAs are likely to flip bullish this week, which could grab the attention of bulls who can push it up from this range. These EMAs could provide at least short-term support near $1.641. 

However, bulls with deep pockets may be waiting for a return further into the current range after the excitement from Wednesday's chain launch wears off. Two areas where they might bid are near the October open, around $1.387, and close to the range lows, near $0.969.

Older pre-redenomination NPXS charts show significant upside potential. Still, bulls will likely be scaling out portions of their positions in logical areas to take profits. A zone between $2.378 and $2.378, near old lows, could provide some resistance. The upper half of this area, beginning near $2.378, could be the most decisive level. 

If the price reclaims this resistance, old consolidations near $3.312 and $3.800 may provide some resistance. These zones could cause a top to form, leading to re-accumulation before the next leg up.

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WOO Network (WOO)

WOO Network (WOO)

Price
$0.997934 (-1.33 %)
฿0.00001757 (-4.42 %)

Market Cap
$521 515 528
฿9 209.63

Volume (24h)
$57 763 056
฿1 016.81

Exchange
KuCoin

Mid-May's drop marked the start of a five-month trading range, with WOO recently climbing into the upper half of this range.

Resistance, beginning near $1.08187, continues to hold the price down. However, the consolidation and the 9 EMA around $0.95000, just above October's monthly open, could provide some short-term support.

Bulls are more likely to wait and see if the price drops following Friday's airdrop, then might buy support from $0.71557 to $0.64969. This zone has confluence with the 61.8% retracement.

If bulls instead break resistance from $1.08187 to $1.14668, the wicks near the range highs from $1.25411 to $1.32631 could be the next target.

Longer-term, a strong reclaim of these zones and measured moves could point at $1.54000 and $1.75000 as the following levels where bulls might take profits.

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