Ethereum (ETH)
$376.67 (-4.79 %) View coin |
Bankera (BNK)
$0.001591 (-4.10 %) View coin |
Neblio (NEBL)
$0.602926 (-3.37 %) View coin
Newsletter
07 January 2019

3 coins to keep an eye on | Issue #23

Hello everyone!

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 marketcap setting higher lows in the short term and hinting at an ascending triangle.

Meanwhile, traders waiting for Bitcoin’s next big move after this consolidation period may be interested in these three altcoins from CoinMarketCal’s hot list which have events in the upcoming week.

@tradeprophet


Ethereum (ETH)

Ethereum (ETH)

Price
$153.14 (-0.25 %)
฿0.03797940 (-4.27 %)

Market Cap
$15 964 151 790
฿3 959 114.25

Volume (24h)
$2 957 293 432
฿733 409.62

Trade
Binance

During the last three weeks, ETH’s USD pair has charged into a substantial rally during which price doubled. Price is currently consolidating inside the last bullish orderblock.

One hint that price may continue upward for at least a short period is the ascending triangle being printed on the RSI. A breakout of this triangle on the RSI is likely to foreshadow a similar jump in price.

Traders wishing to capitalize on speculation from this Friday’s hardfork may find favorable risk-reward ratios near the current levels when targetting the smaller daily bearish orderblock just above - or aim further for the significant weekly levels and orderblock near November’s high.


Bankera (BNK)

Bankera (BNK)

Price
$0.004375 (5.79 %)
฿0.00000109 (1.16 %)

Market Cap
N/A
N/A

Volume (24h)
$59 956
฿14.87

Trade
HitBTC

BNK launched into an incredible rally in December during which price nearly tripled. Since then, the price has retraced to the .5 Fibonacci retracement line for consolidation.

It’s possible that price is following the typical “market maker’s pattern”, where price drops several times after a rally, distributing at each point, and reaching a bottom near the previous bottom.

However, with today’s exchange launch and a potentially more bullish market in the near future, it’s also possible that price is consolidating before resuming the upward trend. The long lower wicks of the last few days as price retested the bearish breaker block suggest some interest from bulls.

Traders wishing to play the current range, or anticipating bullish trend continuation based on interest from the exchange launch may wish to enter near the lows of the last few days while targeting as high as the bearish orderblock near 0.0000013.


Neblio (NEBL)

Neblio (NEBL)

Price
$1.36 (0.45 %)
฿0.00033688 (-3.64 %)

Market Cap
$18 901 951
฿4 687.69

Volume (24h)
$156 189
฿38.73

Trade
Binance

While one of the few coins to maintain a strong bullish trend over the past few months, NEBL is currently encountering some resistance at a higher-timeframe pivot. This may present an opportunity for traders who wish to enter the bullish trend.

Dips in price to the EQ of the last bullish orderblock during this distribution at the pivot may offer good entries when targetting resistances up to the orderblock at October’s highs.

NEBL’s Tachyon network upgrade will occur at block 387028, which is projected for sometime around this Saturday. This may provide enough interest to encourage bulls to continue their momentum upward.

The official multi-client testnet for the long-awaited first phase of Ethereum 2.0 is now live. Ethereum developers expect the testnet, named Medalla, to be the final testing stage before the mainnet launch of Ethereum 2.0, barring any setbacks. If no problems arise, the Beacon Chain could arrive as...
This month the popular NFT marketplace, OpenSea crossed 20,000 total users since it first launched in June 2018. OpenSea has become the go-to website for auctioning rare crypto or token-based assets. The platform currently lists over 10 million assets across 300 types broken down into the following...
Ethereum 2.0 developers released the technical specifications for the latest and perhaps the last Phase 0 multi-client testnet on Wednesday. This testnet, codenamed Medalla, will be the fourth such network launched by Afri Schoeden and crew, following the likes of the late Schlesi and Witti as well ...

3 coins to keep an eye on 👀