Bankera (BNK)
$0.001645 (-1.11 %) View coin |
Syscoin (SYS)
$0.028450 (-3.13 %) View coin |
HyperSpace (Synereo) (AMP)
$0.001579 (0.00 %) View coin
Newsletter
17 December 2018

3 coins to keep an eye on | Issue #21

Hello everyone!

Last week, Bitcoin continued its march downward. The rate of decline decreased slightly - down to about 9% from the previous week’s 13% - but no signs of reversal are yet apparent.

The region around $2,900 is likely to be rich with stops and is also a support turned resistance. This may be where the market is headed.

The altcoin market cap has also seen some decrease over the last week, from approximately $50 billion to $46.5 billion.

With the gradual steady bleed in the crypto markets and no obvious reversal in sight, taking any long positions is still highly risky. However, some coins with significant events are still making temporary gains. Here’s a few from CoinMarketCal’s hot list which may offer some potential in the upcoming week.

@tradeprophet


Bankera (BNK)

Bankera (BNK)

Price
$0.004834 (1.91 %)
฿0.00000147 (1.70 %)

Market Cap
N/A
N/A

Volume (24h)
$195 672
฿59.52

Trade
HitBTC

One of the few coins to maintain a consistent uptrend through the bear market during Q4, Bankera recently printed a new all-time high on a massive bullish impulse.

With this break of the previous all-time high, the future is largely unpredictable. No clear resistances lie above, and few supports below have been re-tested.

One possible support lies at the previous all-time high. This could provide highly aggressive traders with an entry as they anticipate the previous resistance becoming support - also called a support/resistance (SR) flip.

Another more probable support lies below the all-time high near 0.0000013. This region provides a bullish orderblock just under the current .786 Fibonacci retracement. Price bouncing from the EQ - or the center - of this orderblock would provide a higher low and technically preserve the bullish trend.

Today sees the launch of Bankera Exchange. The date of many large event categories brings a drop in price as traders “sell the news”.

However, since this is an exchange launch, this event is likely to bring more value to the token when a higher timeframe is considered. This exchange launch is also a limited launch - meaning that new users can register, but only the most active Bankera contributors will be allowed to trade.

The public exchange launch for all users, scheduled for Jan 7th, provides bulls with some justification to expect the uptrend to continue despite any temporary setback.


Syscoin (SYS)

Syscoin (SYS)

Price
$0.047052 (10.84 %)
฿0.00001431 (9.73 %)

Market Cap
$25 647 537
฿7 801.20

Volume (24h)
$1 754 200
฿533.57

Trade
Binance

Another coin printing a massive gain over the past week is SysCoin. Over two days, the price nearly doubled at its highest point before being rejected off resistance at a significant weekly EQ level.

This pump may be in anticipation of the upcoming rebranding this Tuesday.

Currently, price seems to be settling around the .618 Fibonacci retracement. It is still unclear whether this mathematical level will hold since the charts offer little other support at this region.

A more probable support lies below near the .5 Fibonacci retracement where it has the support of a bearish orderblock from the mid-November downtrend.

Any bounce in price from either of these levels is likely to meet some resistance near the current .786 Fibonacci retracement, where a daily candle closed and yesterday’s upper wick was rejected.

Some climb in price today could occur since the rebranding has not yet occurred. Traders “selling the news” may push price down to one of the possible support levels, providing an opportunity to join the uptrend should a higher low be formed.


HyperSpace (Synereo) (AMP)

HyperSpace (Synereo) (AMP)

Price
$0.016935 (0.05 %)
฿0.00000515 (0.03 %)

Market Cap
$1 705 820
฿518.86

Volume (24h)
$18 744
฿5.70

Trade
Bittrex

Two weeks ago, AMP broke out from accumulation under resistance in an intense spike. Similar to SYS, this was also rejected near a significant weekly level’s EQ, where a bearish weekly orderblock was printed.

No support has yet been confirmed. However, the last week’s decline in price met with opposition from the bulls near the .286 Fibonacci retracement from the last leg up as they printed a long lower wick. This also has confluence with a previous resistance.

Whether this resistance is truly turned support and will hold as a SR flip remains to be seen. However, it’s conceivable that price will hold near the current level and confirm the support.

Some points suggesting an SR flip in this region are an overlap of two significant Fibonacci retracements when different low points are considered. The .618 Fibonacci retracement lies here when the lowest low in late November is considered. Coinciding with this retracement is also the .382 Fibonacci retracement when the last leg up is also drawn on the chart.

Today is the HyperSpace Alpha launch. While this is an alpha release, it could bring more attention to AMP and provide bulls with confidence to confirm the current region as support and continue the uptrend to the previous resistance or beyond.

Syscoin announced its cross-network bridge to Ethereum successfully launched on mainnet earlier today. This bridge aims to create a path for cross-chain ERC-20 token transfers without the need for a third token or intermediary. Why it matters: - Interoperability should remain a relevant theme throu...
Newsletter
07 January 2019
3 coins to keep an eye on | Issue #23
Bitcoin continues in its sideways chop as it rattles the opinions and wallets of traders betting on the longer-term trend. More potentially bullish - but weak - signs are beginning to show themselves, but no clear direction has shown itself yet. The altcoin market has continued in its moderate rally, with the overall marke...
No upcoming event.

3 coins to keep an eye on 👀