Waves (WAVES)
$1.30 (-8.47 %) View coin |
Zilliqa (ZIL)
$0.007044 (-5.08 %) View coin |
Pundi X (NPXS)
$0.000193 (-4.16 %) View coin
Newsletter
28 January 2019

3 coins to keep an eye on | Issue #25

Hello everyone!

Bitcoin concluded the past week with a non-committal candle. The tiny body and long upper and lower wicks accompanied relatively low volume show uncertainty in the market. A large player could push the market either way, but the most probable outcome lies with the current trend - down.

The altcoin market shows similar indecision as it finishes the week with a relatively flatlined marketcap.

Until Bitcoin receives an impulse in either direction, the most rational play for traders this week is likely to look for coins with bullish trends and upcoming events. Here are three coins with hot events this week that may present opportunity.

@tradeprophet


Waves (WAVES)

Waves (WAVES)

Price
$2.66 (-3.82 %)
฿0.00076791 (-0.53 %)

Market Cap
$265 879 340
฿76 791.18

Volume (24h)
$29 185 016
฿8 429.21

Trade
Binance

A noteworthy bull run at the end of Q4 has relaxed into a consolidation period for WAVES over the last month.

Despite hovering in a relatively tight range for most of January, technical indicators show some bullish signs for WAVES, suggesting this may be a re-accumulation period.

The MFI has steadily increased without a corresponding increase in price, which suggests that money is continuing to enter the market. This often results in built up pressure, which can explode upwards.

We can see a tiny falling wedge forming on the RSI - which may foreshadow a bullish impulse - over the last few days as WAVES approaches the bottom of the bullish Ichimoku cloud, which has so far served as a general support region.

The airdrop snapshots beginning this Friday provide an incentive for holders to dig their heels in and hold the line. Additionally, more significant updates are expected by the end of the week, which may encourage bulls to push price upward.


Zilliqa (ZIL)

Zilliqa (ZIL)

Price
$0.020814 (-7.24 %)
฿0.00000601 (-3.61 %)

Market Cap
$171 476 662
฿49 525.83

Volume (24h)
$30 394 163
฿8 778.43

Trade
Binance

Another coin presenting an impressive bullish trend throughout December and January, ZIL has finally begun to encounter some resistance as the MFI indicates profit taking.

The previous three attempts to break this resistant on the daily chart were rejected, but just below lies anticipated support on both the price chart and the RSI.

If this support at the confluence of the pivotal weekly level and bullish trendline holds, it may present an excellent opportunity to join the uptrend as an ascending triangle forms.

ZIL’s mainnet is expected to launch by the end of January. Following the launch is an AMA with the ZIL team. These events may help support the continuation of the uptrend.


Pundi X (NPXS)

Pundi X (NPXS)

Price
$0.000652 (17.38 %)
฿0.00000019 (18.54 %)

Market Cap
$108 677 658
฿31 388.24

Volume (24h)
$38 176 331
฿11 026.07

Trade
Binance

This past week saw the breakout of a massive falling wedge formed by NPXS for over six months.

The overbought MFI suggests that a pullback may occur soon. A logical place for this pullback to test would be the upper boundary of the falling wedge, which also has confluence with a bullish orderblock.

Below this orderblock is a pivot zone. This resistance was confirmed as support with a touch before the breakout, and may serve as support again should the price drop this low.

By Thursday, an announcemnet of the F(X) mainnet plan is expected. An anticipation of this announcement may be what prompted this breakout, and may also support continued support from the bulls.

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
30 September 2019
3 coins to keep an eye on | Issue #49
Bitcoin's move that we've all been waiting for finally happened last week. After consolidating for nearly three months, Bitcoin dropped 23% over a few days before finding some stability in the weekly orderblock around $8,000.  This drop may be a shakeout before another move up, but bears currently have the upper hand....

3 coins to keep an eye on 👀