IOST (IOST)
$0.005146 (-7.80 %) View coin |
Waves (WAVES)
$2.84 (-3.93 %) View coin |
WAX (WAXP)
$0.037353 (-3.27 %) View coin
Newsletter
25 March 2019

3 coins to keep an eye on | Issue #29

Hello everyone!

Bitcoin is likely to make a significant move during the next two weeks as the bullish trendline intersects the strong resistance near $4200.

While many altcoins have made substantial gains, a plunge in Bitcoin’s price may bring an end to the current altcoin market rally.

Here are three coins from CoinMarketCal with events during the next two weeks that may provide opportunities as we wait for the market to decide on its next move.

@tradeprophet


IOST (IOST)

IOST (IOST)

Price
$0.008199 (-4.72 %)
฿0.00000204 (-3.98 %)

Market Cap
$98 498 095
฿24 560.81

Volume (24h)
$42 983 390
฿10 718.05

Trade
Binance

IOST has held a bullish trend throughout quarter one. A failed attempt to break resistance in mid-February has resulted in a month-long consolidation period under resistance.

So far, the price has found support at the EQ of an underlying weekly level. A recent bullish impulse from this support met with resistance again but did print a higher high - preserving the bullish trend.

Potential support at the intersection of the bullish trendline and the underlying resistance may provide an entry for traders anticipating bullish continuation.

This intersection should occur around the time that the “secret weapon” is released. This “secret weapon” may provide the incentive for bulls to break through resistance to continue the uptrend.


Waves (WAVES)

Waves (WAVES)

Price
$2.74 (-0.79 %)
฿0.00068367 (-0.45 %)

Market Cap
$274 176 220
฿68 366.71

Volume (24h)
$7 319 728
฿1 825.20

Trade
Binance

After a stellar rise at the end of Q4 2018, WAVES price has slowly formed a descending wedge for nearly three months.

This is typically a bullish pattern with a target traditionally near the  .618 Fibonacci retracement. So far, the price has failed to break out of the wedge on high volume.

However, it has drifted sideways through the wedge’s upper bound. Still, it continues to be suppressed by the pivot formed by the EQ of daily and weekly levels.

Underneath the current price is a weekly level which may provide support and an entry for traders if a stop run occurs before a bullish trend.

The end of the ongoing Vostok airdrop snapshot, as well as the upcoming airdrop, could provide the catalyst for the price to finally break out.


WAX (WAXP)

WAX (WAXP)

Price
$0.057899 (-5.56 %)
฿0.00001444 (-4.74 %)

Market Cap
$54 580 692
฿13 609.87

Volume (24h)
$518 194
฿129.21

Trade
Bittrex

An exceptionally bullish month for WAX met with several days of confirmed resistance at 0.000017.

Price is currently consolidating in the zone under a daily bearish orderblock from December and over a weekly pivot level.

This pivot formed resistance for much of Q1 2019. If the price is able to hold this level, it would confirm this resistance as support and possibly provide the base for the next leg upwards.

Traders anticipating bullish continuation prompted by WAX’s exposure at the Goldman Sachs Disruptive may wish to enter near this underlying pivot.

One potential target near a weekly level 0.000019 provides an excellent risk-reward entry for entries near the current level.

No other news.
No upcoming event.

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