Stacks (STX)
Stacks (STX)
$2.32 (2.49 %) View coin |
bZx Protocol (BZRX)
bZx Protocol (BZRX)
$0.284784 (-2.29 %) View coin |
Taboo Token (TABOO)
Taboo Token (TABOO)
$0.013245 (8.31 %) View coin
Newsletter
22 Nov 2021

3 coins to keep an eye on | Issue #157

Hello everyone!

Last week, Bitcoin covered a 16.2% range before closing the week near $58,675 - about 10.4% lower than the week's opening price.

The altcoin marketcap dropped slightly with Bitcoin, beginning the week near $1.588 trillion, reaching a low near $1.344 trillion, and ending the week near $1.533 trillion.

While we wait to see if this is Bitcoin's last drop before price discovery - or the start of a bearish trend - here are three altcoins with upcoming events to keep an eye on.

@tradeprophet


Stacks (STX)

Stacks (STX)

Price
$2.21 (6.41 %)
฿0.00003841 (10.05 %)

Market Cap
$2 324 098 602
฿40 425.71

Volume (24h)
$42 563 537
฿740.36

Supply
1 818 000 000 (Max)
1 052 561 462 (Available)

STX has been in a steady bullish trend since its June lows, reaching 463% by its mid-October high.

The price found resistance near $2.381, around the Q2 2021 highs, and continues to reject each climb into this level. While this price action shows significant selling, each tap is likely to weaken the resistance.

Just below the current price, $2.140 could offer support. The 9, 18, and 40 EMAs have stacked in this area, near the midpoint of the current range.

The price might sweep the range lows into possible support near $1.723, perhaps as excitement fades after the ALEX mainnet release on Saturday. This area has confluence with the 61.8% retracement level and a swing high formed during early September.

The last consolidation before early October's rally, near $1.440, could also offer some support on a steeper drop - perhaps caused by a significant bearish movement in Bitcoin.

A break through the resistance from $2.567 to $2.567 may begin price discovery. If this move occurs, extensions suggest that bulls might take significant profits in an area between $3.800 and $4.200.


bZx Protocol (BZRX)

bZx Protocol (BZRX)

Price
$0.289283 (-0.96 %)
฿0.00000503 (2.44 %)

Market Cap
$101 553 935
฿1 769.83

Volume (24h)
$10 248 266
฿178.28

Supply
1 030 000 000 (Max)
354 299 467 (Available)

BZRX rallied 240% from its July lows, creating a massive high-timeframe range before a sharp 50% decline during November.

With over a week to go before the token split and rebranding, the bounce could continue - or possibly turn into a more significant move.

An area of possible support near $0.2606 has provided a bounce. It remains to be seen if bulls can sustain this bounce and turn a contested area between $0.2929 and $0.2695, around the 61.8% retracement of the higher-timeframe range, into support. 

Lower, July's swing high and the 78.6% retracement level could provide more substantial support near $0.2286. A sharp drop could reach as low as possible support near $0.1948, where June's decline found some accumulation.

Any rallies are likely to encounter some resistance near the range highs near $0.4054 and $0.4900. A break from this range might find bulls taking some profits near the range's 27% extension, near $0.5739, and a wide area of probable resistance beginning near the 61.8% extension, from $0.7093 to $0.7917.


Taboo Token (TABOO)

Taboo Token (TABOO)

Price
$0.027157 (22.17 %)
฿0.00000047 (26.27 %)

Market Cap
$265 193 288
฿4 621.66

Volume (24h)
$12 323 212
฿214.38

Supply
9 782 678 080 (Max)
9 782 678 080 (Available)

TABOO has retraced 68% of its over 5,000% rally that began in early October.

A large bearish daily candle found support at the 40 EMA in a daily gap, near $0.01916, before retracing to its opening price, near $0.02766. 

The 9 and 18 EMAs near the opening price might provide support if the uptrend resumes. The recent swing low, near $0.01722, could also offer support again. 

However, the higher-timeframe consolidation, near $0.01167, may be seen as a safer bid by many bulls after any drop following Tuesday's marketplace launch and exchange listing.

Some charts show the price rallying into possible resistance near $0.03047 on Monday. If this move is genuine and sustained, this resistance could flip to support for a further rally into resistance near $0.03714 and $0.05020.

If the price reaches beyond these levels, it will enter discovery, perhaps drawing toward possible resistance near $0.075.

No other news.
No upcoming event.

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