Komodo (KMD)
$0.492624 (0.03 %) View coin |
TenX (PAY)
$0.053142 (0.88 %) View coin |
TomoChain (TOMO)
$0.630493 (3.56 %) View coin
11 December 2018

3 coins to keep an eye on | Issue #20

Hello everyone!

The past week saw little change in the overall path of the crypto market, with BTC printing a bearish weekly candle as the downtrend continues with no clear signs of bullish reversal yet showing.

The overall altcoin also continues to drop, making this a risky time to search for longer-term long positions for all but the most aggressive and shorter-term traders.

For those shorter-term traders, here are a few coins from CoinMarketCal’s hot list with events during the upcoming week that may provide some low timeframe scalping opportunities.


Komodo (KMD)

Komodo (KMD)

$0.562199 (-8.45 %)
฿0.00016428 (-4.21 %)

Market Cap
$62 379 431
฿18 227.53

Volume (24h)
$239 235


While still decidedly in a downtrend, Komodo may be offering a range play as the price tests support near the range low.

A drop below the lower bounds of the tight range formed from August to October bounced into a bullish impulse. This bullish movement met with resistance near the EQ of that range. So far, the rejection has been relatively mild, which means that a drop in price may be likely to find support without plummeting to new lows.

A probable area of support lies in a horizontal zone created by a TD9 candle from later November shown by the TD Sequential indicator. This is a candle that often creates an area of resistance or support.

This candle’s zone has already confirmed as support once, creating the start of a bullish trendline which forms the lower boundary of an ascending triangle - a bullish pattern. A breakout of the current triangle may result in a retest of the range’s upper boundary. This breakout could be prompted by, or occur before, the hard fork this Saturday.

TenX (PAY)

TenX (PAY)

$0.297719 (15.45 %)
฿0.00008699 (17.30 %)

Market Cap
$32 554 955
฿9 512.69

Volume (24h)
$675 368


A long-term bearish downtrend line drawn on the weekly candle bodies was just broken by a strong bullish candle on TenX.

This impulse met with resistance at the lower bounds of the upper distribution zone at an earlier TD9 candle and bearish orderblock. It remains to be seen whether this is enough to prompt continuation of the downtrend, or if this is a temporary setback before price retests the confluence of orderblocks and trendlines above between 0.000085 and 0.00009.

A potential bounce play offering entries for hopefull bulls may present itself this week if price retests the downtrend line which it broke through. This downtrend line also has confluence with a bullish orderblock near the apparent reversal.

More aggressive traders may wish to enter near the current price as it retests the top of its recent accumulation zone.

On CoinMarketCal, we can see that news will be released along with a Q&A. Bullish sentiment from this news could provide a catalyst to not only hold price above the resistance through which it just broke, but also to continue to climb upward.

TomoChain (TOMO)

TomoChain (TOMO)

$0.167124 (5.06 %)
฿0.00004883 (7.95 %)

Market Cap
$9 191 842
฿2 685.89

Volume (24h)
$369 439


During the last few days, TOMO has printed a series of candles suggesting an - at least - temporary bullish reversal.

These were heralded by the Williams Percent Range indicator dropping to almost maximally oversold conditions. This can often hint at a reversal coming some days before it actually occurs, as it did in this case.

Plenty of room remains in the oscillator until the price reaches oversold conditions, but whether it can to continue to oversold levels in the current overall market conditions remains to be seen. However, it could still give bulls some confidence in a shorter-term scalp.

A logical target for this apparent bounce would be the EQ of a large bearish orderblock lying above. Price continuing through this EQ to retest a double top formed in November and December would provide an even better risk-reward ratio.

Friday brings us the launch of TOMO’s mainnet, which lends some support to bulls attempting to push price upward for the remainder of this week.

No other news.
No upcoming event.

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