Bitcoin Cash (BCH)
$291.66 (-0.64 %) View coin |
NEO (NEO)
$17.76 (0.49 %) View coin |
Zilliqa (ZIL)
$0.031778 (10.38 %) View coin
Newsletter
03 Jun 2019

3 coins to keep an eye on | Issue #34

Hello everyone!

Bitcoin’s recent parabolic advance is beginning to show signs of slowing as it fights resistance near last July’s peak. It’s still unclear whether a pullback will be coming, or if euphoria will continue to fuel this surge.

The altcoin marketcap has hovered in the same range for the last two weeks. This may be the result of traders waiting for Bitcoin to stabilize before the start of an altseason.

Here are three short-term plays with events during the next two weeks listed on CoinMarketCal. They may offer opportunities to traders waiting for Bitcoin to cool down and kick off an altcoin market rally.

@tradeprophet


Bitcoin Cash (BCH)

Bitcoin Cash (BCH)

Price
$432.04 (-3.25 %)
฿0.05049860 (-0.95 %)

Market Cap
$7 697 936 431
฿899 760.06

Volume (24h)
$1 813 075 488
฿211 918.21

Trade
Binance

BCH has been in an uptrend for all of 2019. Currently, it is consolidating under a daily orderblock formed during the last spike upward.

Price is some distance above the longer term trendline, which leaves room for a drop. However, the last time price touched the weekly zone below, we saw a sharp bullish reaction. This also formed the start of a shorter term bullish trendline.

A breakout of the overlying support could reach up to the daily orderblock around 0.072 if previous patterns repeat. The launch of the P2P marketplace on Tuesday could start providing the momentum for another move upward.


NEO (NEO)

NEO (NEO)

Price
$13.43 (-4.78 %)
฿0.00156955 (-2.32 %)

Market Cap
$872 840 801
฿102 020.50

Volume (24h)
$555 914 847
฿64 977.15

Trade
Binance

From early April to the middle of May, NEO’s price plummeted to dismal levels below previous lows.

Price may have recently found a bottom at 0.001209. The bounce from this level formed a higher low at 0.001346 and has held so far. Price continues to consolidate and form an ascending triangle under a weekly level providing resistance.

The Ichimoku cloud is also showing some bullish signs. A recent bullish TK cross has just occurred. The lagging span is also poised to break through the current price, which provides more support to the bulls.

Traders looking to capitalize on any excitement caused the mainnet upgrade today may want to begin looking for entries in the current region and target the daily orderblocks above.


Zilliqa (ZIL)

Zilliqa (ZIL)

Price
$0.020607 (0.09 %)
฿0.00000241 (2.06 %)

Market Cap
$179 019 675
฿20 924.41

Volume (24h)
$52 773 651
฿6 168.36

Trade
Binance

ZIL’s recent price action is similar to NEO, with a significant drop during the first part of Q2. A possible bottom has formed in the last couple of weeks at 0.0000025.

Price is currently testing the overlying daily orderblocks that provide resistance. The first resistance was broken through, but the second resistance held. Price is presently consolidating under these levels and forming an ascending triangle.

A third breakout could reach the orderblock near the previous lows at 0.00000347. Higher volume suggests buyers are stepping in at these levels.

This may make it an excellent time for traders expecting more bullish activity - possibly fueled by the release of the smart contract - to begin looking for favorable risk-reward entries.

No other news.
No upcoming event.

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