Waves (WAVES)
$1.03 (24.56 %) View coin |
ColossusXT (COLX)
$0.000252 (-14.00 %) View coin |
Benz (BENZ)
$0.000029 (22.00 %) View coin
Newsletter
14 January 2019

3 coins to keep an eye on | Issue #24

Hello everyone!

During the past week, Bitcoin finally broke below the lows of the consolidation zone in which it spent the last week.

Similarly, the altcoin marketcap shows some losses in tight correlation with Bitcoin’s price.

Under the current price of Bitcoin lies a number of high timeframe supports, which offers some hope that this week’s drop will be met with support and more accumulation. This, in turn, will offer a more neutral or bullish future for altcoins.

During the uncertainty of the next week, here are three coins from CoinMarketCal’s hot events list to keep an eye on for bullish movements during the upcoming week.

@tradeprophet


Waves (WAVES)

Waves (WAVES)

Price
$2.76 (7.45 %)
฿0.00076662 (8.38 %)

Market Cap
$275 941 395
฿76 662.30

Volume (24h)
$29 343 864
฿8 152.34

Trade
Binance

WAVES spent the last week in a tight range accumulating under a resistance before breaking out on Sunday.

On lower timeframes, the RSI is well in overbought territory, making it wise to wait for a pullback to enter in anticipation of an upcoming pump for the two events on unspecified dates this week, as well as a partnership announcement next week.

The first horizontal resistance lies some distance above, meaning that a pullback to the previous resistance may provide a good entry opportunity for traders expecting this resistance to turn support.

Watching the RSI resistance level to also turn to support may provide greater confidence when confirming the entry zone.


ColossusXT (COLX)

ColossusXT (COLX)

Price
$0.000396 (-9.93 %)
฿0.00000011 (-7.27 %)

Market Cap
$4 342 240
฿1 206.37

Volume (24h)
$5 582
฿1.55

Trade
Cryptopia

COLX has performed well over the last month while it printed a consistent bullish trend. In the last few days, a strong bullish impulse propelled price over the resistance lying above.

Supporting this bullish trend are the OBV indicators, which shows movements closing mimicking the price action, and

This resistance forms a common setup that is likely to serve as support for the price, as the bullish candle punched straight through it in a single impulse. If this region turns to support then it provides a reasonable entry for traders wishing to join the bullish trend.

This pump may be in anticipation of this week’s events for COLX, which includes the listing on CoinPulse today.


Benz (BENZ)

Benz (BENZ)

Price
N/A
N/A

Market Cap
N/A
N/A

Volume (24h)
N/A
N/A

Trade
STEX

The limited history and highly erratic movements of BENZ make it is a difficult coin to chart.

However, an exceptionally high volume candle appeared last Wednesday as price hovered near the all-time low.

Assuming that this candle is not a misrecording of data, this may suggest that a large player has entered the market - sometimes indicating significant action will soon take place.

Since the unusually high volume candle, the price has consolidated under the horizontal resistance near the middle of the range. If a pump is coming, perhaps fueled by Tuesday’s event, this area can provide a reasonable risk-reward for traders targetting the downtrend line or beyond.

Newsletter
02 December 2019
3 coins to keep an eye on | Issue #58
Brief euphoria gripped the bulls last week as Bitcoin's price rocketed up 20% from last November's dump level around $6618. However, the initial test of the previous support at $7933 appears to be a failed retest, providing bears with an excellent entry. This move is also the next piece of a classic distribution pattern. I...
Newsletter
07 October 2019
3 coins to keep an eye on | Issue #50
Bitcoin wobbles in a tight 10% range after its massive plunge in late September. So far, it's found support in May and June's orderblocks, but price action is beginning to show classic signs of distribution in a market cycle. Similarly, the altcoin marketcap has held relatively stable around $70 billion during the last wee...
Newsletter
17 June 2019
3 coins to keep an eye on | Issue #35
Bitcoin is off to the races again after a month-long consolidation period. The break of resistance at $8800 could trigger another wave of euphoria, with the area around $9800 posing a reasonable target. The altcoin marketcap also continues to trend upward gently. The news of Binance restrictions for US customers destroy...

3 coins to keep an eye on 👀