Baby Doge Coin (BABYDOGE)
Baby Doge Coin (BABYDOGE)
$0.000000 (1.06 %) View coin |
BEPRO Network (BEPRO)
BEPRO Network (BEPRO)
$0.000721 (-1.31 %) View coin |
Polkadot (DOT)
Polkadot (DOT)
$5.29 (-1.99 %) View coin
Newsletter
03 Oct 2022

3 coins to keep an eye on | Issue #201

Hello everyone!

Last week, Bitcoin covered a 10.3% range before closing the week near $19,050 - about 1.3% higher than the week's opening price.

The altcoin marketcap dropped instead of climbing with Bitcoin, falling from $570 billion to $560 billion.

Keep an eye on these three coins with upcoming events as BTC picks up orders near its 2017 cycle high.

Follow on Twitter: @tradeprophet


Baby Doge Coin (BABYDOGE)

Baby Doge Coin (BABYDOGE)

Price
$0.000000001274 (4.74 %)
฿0 (4.56 %)

Market Cap
$204 844 269
฿10 674.05

Volume (24h)
$5 602 866
฿292.00

Supply
420 000 000 000 000 000 (Max)
159 278 394 658 793 760 (Available)

BABYDOGE has been trading between the extremes of a range formed in mid-May. The price is showing signs that it might attempt to revisit the upper part of this range.

Bulls could encounter resistance near $0.000000001414. This level shows inefficient trading on the daily chart. It’s also near the midpoint of distribution on the weekly chart.

If the price breaks this level, bears might make their next stand near $0.000000001664. This level is at the top of an area of previous inefficient trading on the monthly chart. The weekly and daily charts show that bears have rejected bulls at this level before.

The price could continue up to sweep bears’ stops near the range’s highs. An area of previous inefficient trading on the weekly chart, near $0.000000002045, may offer a sensitive target.

If the price drops - perhaps as traders sell the news of Wednesday’s launch - it might find its first support near $0.000000001001. This level shows inefficient trading down to the origin of an explosive on May 19th. Reaching this level would sweep bulls’ stops under the most recent swing low.

A steeper drop may aim for bulls’ stops under the swing low at $0.0000000007350. Sweeping these stops and filing in the small pockets of inefficient trading on the daily could prompt at least a small rally.

If this level breaks, bears might be targeting bulls’ stops under the $0.0000000004700 swing low. No historical price action exists under this level to suggest support, but the $0.0000000004500 to $0.0000000003500 fixed price levels could have significance.


BEPRO Network (BEPRO)

BEPRO Network (BEPRO)

Price
$0.009979 (-5.64 %)
฿0.00000023 (-4.09 %)

Market Cap
$68 297 045
฿1 542.32

Volume (24h)
$1 945 189
฿43.93

Supply
10 000 000 000 (Max)
6 843 990 106 (Available)

BEPRO dipped under its summer trading range and is consolidating under its lows.

The origin of September’s rally at $0.001059 might continue to offer resistance. This level holds the 18 EMA.

The price could reach slightly higher to fill in a pocket of inefficient trading on the weekly chart near $0.001108. This level is also near the September monthly open and 40 EMA. 

Reaching this level would sweep bear’s stops above late September’s swing highs. Friday’s release could prompt a quick move to this level, perhaps followed by a drop as traders sell the news.

A continued rally might aim for an area between $0.001217 and $0.001273. Bears rejected bulls at this level during the summer before a sharp selloff. It’s also an area of previous inefficient trading.

Just under the October monthly open, $0.001000 has been providing support. This level is at the bottom of an area of inefficient trading on the weekly chart. If it breaks, bears might be targeting inefficient trading on the weekly chart between $0.000810 and $0.000710.

If this possible support breaks, the next target may be the relative equal lows near $0.000499. Under these lows, inefficient trading on the weekly chart from $0.000499 to $0.000441 offers an attractive target to bears.


Polkadot (DOT)

Polkadot (DOT)

Price
$6.28 (0.99 %)
฿0.00032699 (0.81 %)

Market Cap
$7 300 054 685
฿378 264.43

Volume (24h)
$217 317 925
฿11 323.25

Supply
1 238 231 204 (Max)
1 157 281 213 (Available)

DOT is trading near its summer range lows, closely mimicking BTC's price action. Wednesday's AMA on staking could provide some volatility to test the closest resistance or support. 

This closest resistance, near $6.64, holds the 40 EMA and had inefficient trading on the weekly chart. The price might reach this level to sweep bears' stops who sold at this support-turned-resistance.

A rally might continue to fill in inefficient trading on the daily chart from $7.31 to $7.56. Breaking this level could mean bulls are aiming for bears' stops above $8.05 and inefficient weekly trading up to $8.54. This void is near the current range's highs.

The closest support, near $5.97, is inside inefficient trading on the daily and weekly charts. It's also an area where bears rejected bulls during 2020. Dipping into this level would sweep bulls' stops under a significant recent swing low and may prompt at least a small rally.

If this level breaks, bulls might watch a zone near $5.47 for signs of support. This area shows accumulation on the weekly chart before December 2020's parabolic rally. It's also at the low of inefficient trading on the weekly chart.

A continued downtrend may aim for an area near $4.22, where bulls rejected bears on the monthly and weekly charts in late 2020. If the price dips this low, it could run bulls' stops under the relative equal lows in this area. No higher-timeframe price action exists under these lows to show where the price might find support.

No other news.
No upcoming event.

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