3 coins to keep an eye on | Issue #305

MPLX soared 136% from its September 9th low, purging bears' stops above Q1, Q2, and Q3's relatively equal highs near $0.4309.

The price is testing possible support near $0.4665, in the upper wick of September 25th's accumulation. This wick has higher odds of being sensitive if a new rally is about to begin because the price has tested September 25th's daily candle several times. Traders "selling the news" of Monday's release could suppress the price in the near term, leading to a rally later in the week.

If this support breaks, $0.4413 could be the next level to provide a bounce. Reaching this level will offer bulls' stops under Saturday's swing low at $0.4419 to bears. It also confluences with the 9 EMA, September 24th's now-filled bullish daily gap, and July 22nd's swept swing high.

Resistance may begin near $0.5017, where bears rejected bulls on September 27th as September 28th's swing high formed. This resistance might reach approximately $0.5183, near the midpoint of last week's candle wick. It may also soon become the midpoint of September's candle wick.

A breakthrough at this level might see a touch of the next resistance near $0.5332, where bears rejected bulls on the four-hour chart on  September 28th. However, a move to this level has reasonable odds of continuing to sweep September 28th's swing high at $0.5687.

PEPECOIN faltered after its rally reached 114% from its September low, sweeping bears' stops above July and August's relatively equal swing highs.

The price is testing support near $3.0985, where bears rejected bulls on August 25th. It's reasonable to expect the price to dip deeper into this support - likely before Wednesday's burn begins - sweeping bulls' stops under September 27th's swing low at $3.0441 and testing September 19th's bullish gap at $2.9872. This region has confluence with the 18 and 40 EMAs.

A retracement might find support in September 17th's bullish daily gap at $2.6754. More robust support could exist inside this gap at the confluence of September 3rd's high at $2.5640, where accumulation began during the week of September 2nd before the rally.

Pushes higher might initially struggle to break resistance at $3.2962, where bulls rejected bears on September 26th before creating a swing high. After Monday's candle closes, this level may become the approximate low of a bullish daily gap from Sunday if Monday's high stays below Saturday's low.

Traders might watch the price's behavior near this level to see whether reduced supply from the burn will help increase the price or if the anticipation of the burn has driven the price too high and will lead to a retracement.

If this resistance breaks, September 27th's bearish daily rejection at $3.6953 offers the following resistance line. Bears rejected bulls near this price on September 24th, adding confluence.

A more substantial rally may eventually target June 12th's swing high at $4.3156, reaching June 3rd's bearish daily gap at $4.3400. However, achieving this level might not happen until a much later date.

XDC ground nearly 14% higher through July 29th's broad bearish weekly gap from $0.02972 to $0.02714 throughout September.

The price might encounter significant resistance near $0.02972, especially if traders sell the news of Monday's upgrade. This level marks the distribution low during the week of July 22nd before late July's catastrophic collapse.

A retracement might test the now-reclaimed August 2nd bearish daily gap at $0.02911, offering support. The 9 EMA adds confluence to this level. It's reason for support to spread slightly higher if Monday's low remains above Saturday's high at $0.02917, forming a bullish daily gap.

If the price falls through this support, it may find new support at $0.02838, the high of September 16th's bullish weekly gap and near the 18 EMA. September 18th's bullish daily accumulation inside this level adds additional confluence.

If the rally continues through the nearest resistance, the price will likely aim for bears' stops through daily swing highs at $0.03075, $0.03128, and $0.03162. Above these highs, the midpoint of July 15th's weekly wick and July 17th's bearish daily distribution near $0.03183 might create the next robust resistance.