3 coins to keep an eye on | Issue #198

AMB consolidated from early May to early September before an explosive 360% impulse upward.

Bulls are finding resistance near the 2022 yearly open. It’s unclear whether this impulse is a run on bears’ stops to lure in bulls or the start of a more significant bullish trend. Price action after Thursday’s AirDAO launch may offer more hints on the intent behind this move.

If the bullish movement continues, the price might find its first support near $0.02386. This area shows overlapping areas of inefficient trading on the weekly chart. It also contains a significant high from late March. 

Another area of previous weekly inefficient trading, near $0.01881, could also provide support. This area overlaps with the last swing high before April’s run on bulls’ stops. It also contains the 9 EMA and may soon hold the 18 EMA.

If bulls can hold the line, $0.03991 could offer the first resistance. In June 2021, bears rejected bulls at this level near the bottom of previous inefficient trading on the weekly chart. It’s also an untested distribution area near H2 2021’s range high.

A continued trend may be aiming for the monthly high near $0.06715. The price may want to return to this level to sweep bears’ stops and retest an area of inefficient trading on the weekly chart. Bulls should consider that the overall bearish market conditions make the price less likely to move this high.

SCRT has been in a volatile range since mid-June. Wild price spikes on bulls’ and bears’ stops give no clear hints on the next direction.

The price is testing the closest possible support, near $1.1510. This level holds the 9, 18, and 40 EMAs. It also shows inefficient trading on the daily chart following a run on bulls' stops. The low end of previous inefficient trading on the monthly chart adds more confluence.

Resistance is nearby, at $1.2078. At this level, bears rejected bulls after last week’s 52% sudden rally. The proximity of this support and resistance could cause more consolidation leading to next Tuesday’s mainnet upgrade. 

If the price breaks upward, it may aim for resistance near $1.5350. The swing highs near this level likely have many bears’ stops, giving bulls an attractive target. A small area of inefficient trading on the daily chart may also attract the price.

If the closest support breaks, this hints that the significant swing low near $0.7616 is an eventual target. This low began SCRT’s run to all-time highs in July 2021. It was also the last accumulation point on the weekly chart in December 2020 before Q1 2021’s bull run.

Like much of the altcoin market, XEC has consolidated since its May lows. 

The price is near $0.00004630. This key level holds the September and August monthly opens and the 9, 18, and 40 EMAs.

If it holds as support, $0.00006262 may be the next target and resistance. This level shows inefficient weekly, monthly, and daily trading. It's also near significant old swing highs and lows. A continued move may aim for inefficient trading on the weekly chart near $0.00007904.

Traders might watch price's reaction to Wednesday's news of the Avalanche Post-Consensus launching on eCash's mainnet. This reaction could be the catalyst that shows whether this level will hold or break.

If the key level breaks instead, it could turn to resistance. A drop under the July monthly open to attack bulls' stops under relative equal lows could be next. If this move happens, the price might find support near the range's lows, around $0.00003551.

A lack of support near this level may start a more significant decline to $0.00001439. This level marks a monthly swing low that began 2021's run to an all-time high. Bears may target this level since it likely holds many bulls' stops.