3 coins to keep an eye on | Issue #217

BDX has shown erratic price action as it drifted down 42% from its August high.

The price is hovering over relatively equal daily lows near $0.04142. Traders selling the news of Monday's integration could help push the price below these lows to run bulls' stops.

If this sweep happens, the price might find support near $0.04057. This level is the origin of January's enormous and immediately rejected wick upwards. It's also near where bulls rejected bears on the weekly chart in early January.

If this level breaks, bulls might find more support near $0.03880. Bulls also rejected bears near this level in early December on the weekly chart. The daily chart also shows that bulls rejected bears here on January 6th.

A steeper drop to run stops under the $0.03720 weekly swing low might reach near $0.03500. This level is near the middle of December 7th's long wick down. It's also near the rounded $0.0350 and $0.0335 levels.

The closest resistance might exist near $0.04456. At this level, bears rejected bulls on the weekly and daily charts during the week of December 19th. It's also just above a daily swing high at $0.04434, where some bears are likely to have placed their stops.

Above this level, December 10th's massive upward wick makes resistance unclear. August's bearish rejection of bulls at $0.05832 and the midpoint of January's wick near $0.06350 could have higher odds of providing resistance.

HBAR mimics Bitcoin's price action, rallying 127% from its lows to run bears' stops above multiple swing highs.

The price encountered resistance near $0.0756. Bears rejected bulls at this price on the monthly chart in July. This level could continue to provide resistance.

Support might exist near the current price, at $0.0689. This level, down to $0.0608, saw accumulation before early November's run on bulls' stops. It also contains a large daily gap and the 9 EMA. Traders selling the news of Thursday's testnet reset could help push the price into this level before a potential leg upward.

If the rally continues, bulls may be aiming for bears' stops above the $0.0845 weekly swing high. The weekly chart shows an unfilled gap from this level to $0.0874. 

A sustained climb could reach the broad monthly gap from $0.0983 to $0.1303. Inside this monthly gap, the weekly gap from $0.1110 to 0.1245 and the daily gap from $0.1219 to $0.1245 could show more sensitivity.

If the price falls through the closest support from $0.0689 to $0.0657, $0.0507 may be next. Bulls bought at this level before the price ran their stops after December's opening. It's also near the 40 EMA.

KAVA jumped 123% from its January low, reaching resistance beginning near $0.987.

This resistance is a monthly and weekly gap reaching up to $1.308. Inside this level, old swept lows at $1.123 and a daily gap from $1.162 to $1.330 may offer more sensitivity. Trader selling as Kava 12 launches might help this level to hold.

However, possible support rests just below. Bulls bought near $0.996 before December's drop. This area also has confluence with the 9 and 18 EMAs and a daily gap. The proximity of this support and resistance could prompt a choppy consolidation.

If bears break through this support, $0.765 may be next. This level is near the midpoint of December's accumulation. It's also the lower half of a weekly gap and the origin of January's rally.

A move below this level might be aiming for bulls' stops under the $0.514 swing low. If so, the price could find support near $0.486, where bulls rejected bears on the monthly chart in March 2020.

If the rally continues through resistance instead, $1.637 could be the next target. This area is near an untested distribution before Q4 2022's drop. It's also multiple relatively equal weekly highs from September 2022, where bulls may have clustered their stops.