3 coins to keep an eye on | Issue #296

DASH is rallying after sweeping August 2023's lows.

Last week, the price filled and found support inside July 8th's bullish weekly gap. The 9, 18, and 40 EMAs converge near $27.0748, where bulls accumulated on July 25th and July 28th. This area could support a retest, perhaps triggered by traders selling the news of Tuesday's release.

If this support breaks, the next support might exist near $25.7136. On July 25th, bulls rejected bears at this price inside July 8th's bullish weekly gap, starting the current rally.

The price is testing possible resistance at $27.5923, at July 21st's candle tail low, where bears distributed before last week's retracement. The opening and closing of July 21st's candle at $28.0226 and $28.3413 may see more sensitivity.

Bears' stops above July 21st's swing high at $28.8927 could continue drawing the price upward through the closer resistance. Above this high, the unfilled part of July 3rd's bearish weekly gap and June 7th's bearish daily gap might see profit-taking before a move to bears' stops above April 24th and May 24th's relatively equal daily swing highs at $32.4147.

After the rally in early July, EOS retraced into late June's consolidation range. This range preceded July 4th's run through September and October 2023's lows.

June's consolidation could support price, although there are no clear signs that a new bullish price leg is beginning. Traders selling ahead of Wednesday's hardfork might encourage a dip lower to possible support near $0.5570, where bulls rejected bears on July 25th.

Below this possible support, bulls' stops under July 25th's swing low at $0.5361 mark another line of potential support. This low confluences with the unfilled part of July 13th's bullish daily gap, reaching $0.5267.

The price is struggling with resistance at $0.5802, which is the opening of July 24th's daily candle. This candle saw distribution before July 25th's aggressive drop. Bears' stops above July 27th's daily swing high may encourage a push deeper into this level, potentially reaching the 40 EMA. 

A close over this high could increase the odds of a bullish continuation to bears' stops above July 24th's swing high at $0.6076. Above this high, bulls might begin taking profits near July 20th's bearish rejection at $0.6094, creating resistance.

However, bears' stops above relatively equal swing highs at $0.6199 and $0.6229 may draw the price higher into June 17th's bearish daily gap.

TON consolidated in a wide range through the latter part of Q2 and Q3.

Last week saw a strong move lower toward bulls' stops under July 5th's daily swing low at $6.38. Monday's announcement could create volatility that resumes this bearish move or makes a bullish reversal. Price's respect or disrespect of possible support at July 25th's bullish daily rejection of bears at $6.62 might indicate the next move's direction.

Bulls' stops at July 5th's swing low and May 23rd's swing low at $6.38 and $6.00 are bears' targets if this possible support breaks. Bordering May 23rd's low, the unfilled part of May 9th's bullish daily gap adds confluence, potentially creating at least a slight bounce.

Above, July 25th's small bearish daily gap at $6.95 offers the first line of resistance near July 8th's weekly low. If this week's low remains below July 15th's weekly low at $7.00, this region may develop into a bearish weekly gap, creating stronger resistance. The 9, 18, and soon 40 EMAs add confluence to this level.

If the price breaks this resistance, it could find its next obstacle near the 40 EMA's current price and July 18th's bearish distribution at $7.09. Slightly above this price, July 21st's bearish daily gap at $7.22 might provide more sensitivity. However, a move this high has reasonable odds of bullish continuation to multiple relatively equal swing highs up to June's monthly high.