Moonbeam (GLMR)
Moonbeam (GLMR)
$0.462733 (0.38 %) View coin |
NEAR Protocol (NEAR)
NEAR Protocol (NEAR)
$2.38 (0.98 %) View coin |
The Sandbox (SAND)
The Sandbox (SAND)
$0.724253 (-0.02 %) View coin
Newsletter
14 Nov 2022

3 coins to keep an eye on | Issue #207

Hello everyone!

Last week, Bitcoin covered a 26.4% range before closing the week near $16,300 - about 22% lower than the week's opening price.

The altcoin marketcap dropped with Bitcoin, falling from $648 billion to $523 billion. 

Keep an eye on these three coins with upcoming events as Bitcoin tests possible resistance at its summer range lows.

Follow on Twitter: @tradeprophet


Moonbeam (GLMR)

Moonbeam (GLMR)

Price
$0.355567 (-0.94 %)
฿0.00002147 (-0.52 %)

Market Cap
$160 731 615
฿9 709.00

Volume (24h)
$9 817 907
฿592.70

Supply
1 042 991 590 (Max)
452 214 293 (Available)

During November, GLMR dropped 37% from its consolidation range high.

Bulls might find the closest resistance near $0.3611. The daily chart shows distribution here during a brief rally last Thursday. Tuesday's event could prompt a small rally into this level, offering bears an entry.

If this resistance breaks, the price may reach upward for Q3's consolidation low, near $0.4292. This level has confluence with the 18 EMA.   

If the price reaches resistance near Q3's low, it's reasonable to anticipate a move slightly higher to $0.4433. Here, the October monthly open and 40 EMA converge with October's monthly candle body low, where distribution took place.

There is no historical price action below offering support or targets. If the price continues to drop, investors could study the psychological price levels at $0.2500, $0.2000, and $0.1500 for signs of support and bullish reversal.


NEAR Protocol (NEAR)

NEAR Protocol (NEAR)

Price
$1.95 (-0.94 %)
฿0.00011791 (-0.54 %)

Market Cap
$1 613 776 521
฿97 480.21

Volume (24h)
$182 982 846
฿11 046.61

Supply
1 000 000 000 (Max)
826 698 111 (Available)

NEAR fell 47% from its November high. The price is drawing toward a significant monthly swing low at $1.546.

Distribution on the daily chart near $1.990 may offer the closest resistance. This level will soon have confluence with the 9 EMA. Traders selling after Thursday’s AMA could help this level hold for at least a brief short.   

If this resistance breaks, the price may be reaching for a daily gap beginning near $2.660. This gap has confluence with October’s low, where the price consolidated for several weeks. It may also soon contain the 40 EMA.

There is little higher-timeframe price action to suggest support below. The July 2021 swing low at $1.546, which sparked a massive rally to all-time highs, offers a likely target. This swing low holds many bulls’ stops, which allows bears to close some shorts.

Under this low, the weekly and monthly charts show accumulation near $1.300. The price has not visited this old buying zone in two years. Bulls might begin accumulating near this level and below.


The Sandbox (SAND)

The Sandbox (SAND)

Price
$0.587098 (-4.63 %)
฿0.00003544 (-4.22 %)

Market Cap
$904 430 639
฿54 632.15

Volume (24h)
$380 685 849
฿22 981.90

Supply
3 000 000 000 (Max)
1 541 657 026 (Available)

SAND plunged 44% from its November high after slowly dropping from mid-August to early November.

The price is near the upper end of a bearish target, near $0.5536. This level marks the high of a monthly gap. Traders selling Tuesday's news may help push the price deeper into this level if the market stays bearish.

There is a weekly gap beginning at $0.3628, inside the bottom part of this monthly gap. This level may offer a strong draw on price if Bitcoin stays bearish. Reaching this gap would also run bulls' stops under a weekly swing low from July 2021.

If this possible support breaks, bulls' stops under the $0.1466 swing low and a monthly gap beginning near $0.0778 provide the next logical targets.

The closest resistance might begin near $0.5576. Some distribution has taken place on the daily chart near this level. Bears might prefer waiting for a daily close under this level before searching for short opportunities.

An old swing low, weekly gap, and weekly distribution from $0.6936 to $0.8000 offer higher odds of resistance. This area has confluence with the 40 and 18 EMAs.

If this level breaks, the price may be reaching for bears' stops over swing highs at $0.9856 and $1.0248. Daily and weekly gaps above these levels, beginning near $1.0773, might mark the end of this rally if it occurs.

No other news.
No upcoming event.

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