Aeron (ARN)
$0.089161 (-0.33 %) View coin |
WandX (WAND)
$0.004365 (0.00 %) View coin |
Lympo (LYM)
$0.001237 (-1.11 %) View coin
Newsletter
12 November 2018

3 coins to keep an eye on | Issue #16

Hello everyone!

Bitcoin produced more yawns than profits during the last week with an underwhelming 4% range.

Altcoin markets began to take a bearish turn overall as the initial pumps stalled and began to turn into distribution.

No clear direction in the crypto markets presents itself, but with multiple downtrends and uptrend lines crossing before the end of December, it appears that the highly-anticipated move and violent volatility are likely to strike very soon.

Here are three events this week on CoinMarketCal’s hot events list which may present opportunities for short-term plays during this equilibrium in the markets.

@tradeprophet


Aeron (ARN)

Aeron (ARN)

Price
0.683999 USD (-1.92 %)
0.00010679 BTC (-2.12 %)

Market Cap
8 891 993 USD
1 388.00 BTC

Volume (24h)
1 845 478 USD
288.12 BTC

Trade
Binance

After a double bottom confirmed in early September, ARN began a ramp which culminated in an explosion upward.

The last massive spike in early October created the staff for the currently forming bullish pennant, which has been gradually filling out for the last month.

This week is likely to see a second bounce off of the bottom boundary of the pennant. This has confluence with the weekly EQ of a significant orderblock from early in ARN’s history and also with the boundary of the bullish Ichimoku cloud.

A snapshot for an upcoming airdrop will be taken this Thursday. It’s unlikely that price will dump below the lower boundary of the pennant before then, as most token holders will want to capitalize on free CBM tokens. Traders and investors looking to capitalize on this snapshot also increase the chances of a bounce from the bottom pennant.

Short-term traders may look to play the bounces between the pennant boundaries, while longer-term investors might look to begin building positions for another leg upward.


WandX (WAND)

WandX (WAND)

Price
0.084161 USD (0.02 %)
0.00001312 BTC (-0.37 %)

Market Cap
1 030 476 USD
161.00 BTC

Volume (24h)
11 188 USD
1.74 BTC

Trade
Bancor Network

Mid-October saw the beginning of a steady bullish uptrend for WandX. Price quickly began trading above the Ichimoku cloud following the TK cross.

The first encounter with resistance saw consolidation followed by a massive shakeout, which was just as quickly bought up by bulls.

This consolidation zone saw a breakout in the past week. An SFP on the daily formed above the breakout - probably from traders preparing to sell the news in preparation for today’s WandX DEX release - which is likely to push the price down in the next few days.

The top of the last consolidation zone forms a very clear level which aggressive traders may set bids at in an attempt to join the uptrend.

Longer-term investors may see the release of the WandX DEX as a bullish catalyst which will cause the uptrend to continue.


Lympo (LYM)

Lympo (LYM)

Price
0.016912 USD (-4.01 %)
0.00000264 BTC (-4.00 %)

Market Cap
12 740 729 USD
1 989.00 BTC

Volume (24h)
2 115 491 USD
330.27 BTC

Trade
Kucoin

A long-term downward sloping trendline which has been respected for half a year is closing soon on Lympo’s current price. A clear horizontal support is propping up the price, resulting in intense compression against this downtrend line.

While a descending triangle is typically a bearish chart pattern, we can see from the high volume and climbing MFI that money is entering the market, indicating that accumulation is occurring. This is directly under a resistance created by a bearish orderblock. Typically, extended consolidation under resistance precedes a breakout upward.

A couple more weeks last in Lympo’s triangle, but this Friday’s event may provide a catalyst for a breakout upward. Lympo will launch its app in the USA with massive publicity from the Dallas Mavericks and Mark Cuban.

Shorter-term traders have a clear risk-reward defined entry to try and play this Friday’s event. Longer-term investors may see the publicity and app launch as an excellent omen for high timeframe profits.

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3 coins to keep an eye on 👀