New NFT Collections
Alephium (ALPH)
Alephium (ALPH)
$1.93 (-10.17 %) View coin |
Chia (XCH)
Chia (XCH)
$19.57 (-2.47 %) View coin |
FINSCHIA (FNSA)
FINSCHIA (FNSA)
$19.41 (-8.05 %) View coin
Newsletter
10 Jun 2024

3 coins to keep an eye on | Issue #289

Hello everyone!

Last week, Bitcoin traded in a 6.5% range before closing near $69,650—about 2.8% higher than the week's opening price.

The altcoin marketcap climbed with Bitcoin, rising from $1.19 trillion to $1.2 trillion. 

Keep an eye on these three coins with upcoming events as BTC bulls struggle near Q1's high.

Follow on Twitter: @tpcharts


Alephium (ALPH)

Alephium (ALPH)

Price
$1.90 (2.08 %)
฿0.00002742 (2.02 %)

Market Cap
$152 853 172
฿2 203.51

Volume (24h)
$1 789 394
฿25.80

Supply
197 999 684 (Max)
80 361 686 (Available)

ALPH retraced 59% from its April high before last week's bullish impulse from the downtrend's low.

June 4th created a bullish daily gap that could offer support. This gap spans from $1.8200 to $1.5991.

This gap's high, which confluences with the 9 and 18 EMAs, might see sensitivity on a retest. Near the gap's midpoint, May 31st's daily swing high at $1.7237 may offer a more precise support level.

If bulls fail to hold this support, relatively equal lows near $1.4491 could be the target. The unfilled part of January's monthly bullish gap rests under this low, overlapping with January 4th's daily bullish gap.

If bulls can hold the nearest support through potential volatility caused by Wednesday's Rhône Activation, bear's stops above June 5th's swing high at $2.2089 might be the target. This high is inside May 6th's bearish daily gap, making this level more likely to offer resistance.

A break through this possible resistance may reach for bears' stops above relatively equal highs up to $2.4349. These highs are inside the confluence of March 18th's bullish weekly rejection and April 22nd's bearish weekly gap.


Chia (XCH)

Chia (XCH)

Price
$28.40 (-0.84 %)
฿0.00040943 (-0.90 %)

Market Cap
$299 134 888
฿4 312.28

Volume (24h)
$15 361 609
฿221.46

Supply
31 529 323 (Max)
10 529 401 (Available)

Last week, XCH created a sharp 17% drop that swept the current consolidation range's lows.

If this drop was merely a sweep of bulls' stops and not the start of a more extended downtrend, the price could find support between $28.197 and $27.5700. This level is near the midpoint of June 7th's daily wick tail. Price action near this level during any volatility accompanying Thursday's fork might hint at the following price leg's direction.

A close below this possible support increases the odds of a move to attack bulls' stops under June 7th's swing low at $25.9616. Bulls rejected bears near this price on November 20th. However, a lack of untested higher-timeframe support under this low may lead to a more significant bearish move.

Resistance begins nearby at $29.2802 at June 7th's daily gap low. Inside this broad daily gap, May 20th's swing low at $29.3124, May 19th's bullish daily rejection at $29.6520, and June 2nd's swing low at $30.2885 could offer more precise resistance levels.

If bulls push through this resistance, the next higher-odds resistance is $31.4006. At May 30th's daily gap low, this level rests above bears' stops at relatively equal daily swing highs near $31.2707 and inside May 27th's bearish distribution.


FINSCHIA (FNSA)

FINSCHIA (FNSA)

Price
$27.81 (-1.00 %)
฿0.00040103 (-1.02 %)

Market Cap
$219 857 228
฿3 168.05

Volume (24h)
$613 518
฿8.85

Supply
7 903 118 (Max)
7 903 016 (Available)

Since May 13th, FNSA's price soared 52%, filling bearish weekly gaps from April 8th and April 1st.

Following this rally, the price began plummeting toward possible support near May 27th's bullish weekly gap starting at $27.3778. This level is near the 40 EMA and inside May 29th's weekly accumulation.

If the price breaks through this support - perhaps encouraged by traders "selling the news" of Monday's upgrade - bulls' stops under daily swing lows at $25.6111, $25.4939, 2$5.1413, and $24.7185 are in jeopardy. 

A sweep of these stops could see a pause or bounce at May 15th's bullish daily gap near $24.1009. However, bulls looking for entries might be cautious near this level since bulls' stops under relatively equal lows reaching back to January rest under this possible support, offering a downward draw on price.

If bears pause their selling, a potential retracement upward may find resistance near $29.2328. This price is at the low of June 7th's bearish gap and near April 24th's significant swing high.

If today's (June 10th) high fails to reach June 8th's low, a new bearish daily gap will form under June 7th's bearish daily gap that could also create resistance.

A break through this resistance might attack bears' stops above June 7th's swing high at $30.7344. This high is inside June 4th's bearish daily gap, which may create resistance.

However, if the price reaches this high, the odds increase that bulls will dig into June 3rd's long bearish daily wick, beginning near $33.0725. The lower half of this wick could create the most robust resistance.

No other news.
No upcoming event.

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