Chainlink (LINK)
$2.30 (1.29 %) View coin |
NULS (NULS)
$0.198003 (-2.73 %) View coin |
Waves (WAVES)
$0.958446 (-0.81 %) View coin
Newsletter
17 June 2019

3 coins to keep an eye on | Issue #35

Hello everyone!

Bitcoin is off to the races again after a month-long consolidation period.

The break of resistance at $8800 could trigger another wave of euphoria, with the area around $9800 posing a reasonable target.

The altcoin marketcap also continues to trend upward gently. The news of Binance restrictions for US customers destroyed some promising charts, but more opportunities are available.

Keep an eye on these three of the top 100 coins listed on CoinMarketCal with events during the next two weeks.

@tradeprophet


Chainlink (LINK)

Chainlink (LINK)

Price
$1.90 (14.52 %)
฿0.00020499 (11.93 %)

Market Cap
$665 666 696
฿71 748.14

Volume (24h)
$152 969 987
฿16 487.70

Trade
Binance

After a retest of the lows in early May, LINK went parabolic with an over 300% gain. The current retrace is testing the previous highs near 0.00017, which is also the .618 Fibonacci retrace.

If this pullback continues, another possible support zone lies around 0.000145. This zone is formed by a daily orderblock that overlaps a weekly orderblock from mid-March. It also provided the source for the last dramatic spike upward.

If all else fails, a third confirmed support zone can be found at the overlap of two weekly orderblocks and two daily orderblocks between 0.00012 and 0.00013.

Bullish action seems likely with Oracle demonstrating LINK at the CloudEXPO 2019.


NULS (NULS)

NULS (NULS)

Price
$0.974656 (0.71 %)
฿0.00010505 (-0.50 %)

Market Cap
$69 178 785
฿7 456.36

Volume (24h)
$13 064 650
฿1 408.16

Trade
Binance

NULS began a short accumulation phase in early May that was followed by a breakout through resistance. Price discovered the next confirmed resistance near at a daily orderblock near 0.000135.

A range is forming inside a weekly orderblock. Attempts to dive lower were countered by the bulls. This can be seen by the wicks touching support in the daily orderblock near the previous resistance around 0.0001.

It remains to be seen whether the old resistance around 0.0001 will hold as support. However, the new website launch today may provide some catalyst for this level to hold, making it a promising entry for the next leg upward.


Waves (WAVES)

Waves (WAVES)

Price
$2.48 (3.09 %)
฿0.00026735 (1.64 %)

Market Cap
$248 045 241
฿26 735.28

Volume (24h)
$40 057 079
฿4 317.51

Trade
Binance

WAVES is drifting toward a low set in early August 2018 after a horrific downtrend beginning in April.

Volume has been gradually dropping off as price entered the weekly orderblock marking the bottom of the last market cycle. This suggests that panicking bears are becoming exhausted - as bulls silently accumulate.

Price is hovering around the orderblock’s EQ at 0.00028. It’s unclear whether this will be the bottom, or if 2018’s lows will be broken.

However, the current zone does provide a probable support area. This could form the bottom of a range during an accumulation phase.

The upcoming node release increases the chances that bull create a bottom soon, which could offer an excellent entry for a forthcoming range spawning a new market cycle.

Newsletter
02 March 2020
3 coins to keep an eye on | Issue #71
The move we've been waiting for finally happened last week, as BTC plunged to close 14.48% below its open. The trendline through the consolidation zone around $8475 provided a temporary bottom, but will it hold? The altcoin marketcap crashed alongside BTC, losing 18% from $106 to $87 billion during the week. While we wa...
This report is part of a weekly series where we will explore the mechanics behind major Open Finance protocols and evaluate them on a fundamental basis. You can view prior reports here. The narrative behind open financial protocols burst onto the scene in 2019. Over the course of the year we saw ne...
Newsletter
07 January 2020
3 coins to keep an eye on | Issue #63
Last week, Bitcoin bulls and bears struggled over an 8% range. The sides were equally matched, with Bitcoin only closing 0.66% lower than the preceding week. This week begins with some signs of strength, and Bitcoin seems poised to strike the top of the range around $7733. Consolidation under resistance, a bullish TK cross...

3 coins to keep an eye on 👀