Enjin Coin (ENJ)
$0.180641 (4.34 %) View coin |
SOLVE (SOLVE)
$0.134262 (0.27 %) View coin |
Zcoin (XZC)
$4.20 (0.42 %) View coin
Newsletter
08 July 2019

3 coins to keep an eye on | Issue #37

Hello everyone!

Bitcoin’s charge upward has been halted for the last week as price consolidates around the overlap of weekly orderblocks near $11,500.

Last time price consolidated during this year’s move upward, the action resumed when the Ichimoku cloud’s lagging span touched the candles. If this pattern continues, this consolidation could last for up to two weeks.

Meanwhile, the marketcap of the altcoin market is holding relatively stable. A mini-altseason could be in the cards if Bitcoin continues moving sideways.

Keep an eye on these three coins with events on CoinMarketCal during the next week.

@tradeprophet


Enjin Coin (ENJ)

Enjin Coin (ENJ)

Price
$0.121782 (-4.06 %)
฿0.00001031 (-8.39 %)

Market Cap
$94 463 537
฿7 994.98

Volume (24h)
$6 772 891
฿573.23

Exchange
Binance

Although ENJ has been in a downtrend since March, on a higher timeframe, it is still in an uptrend. At the end of June, the price touched the long-term bullish trendline where it passed through a weekly orderblock. 

This is a promising place for a reverse in the shorter-term trend, particularly if last week’s low in the recent daily orderblock holds. A break in the RSI’s pivot could provide an early hint of a rise in price.

Traders looking to capitalize on bullish incentive from today’s ecosystem upgrade may wish to target short-term potential resistances at the daily orderblock around 0.000017, and the daily and weekly orderblock just above around 0.000019.


SOLVE (SOLVE)

SOLVE (SOLVE)

Price
$0.310452 (-11.77 %)
฿0.00002628 (-15.32 %)

Market Cap
$101 553 904
฿8 595.07

Volume (24h)
$9 403 759
฿795.89

Exchange
Binance

On the weekly chart, SOLVE is showing hints of a bullish reversal. The daily chart indicates considerably more noise, including a month-long downtrend during June.

It’s possible that June’s downtrend has recently reversed in a weekly orderblock. A two-week movement upward met resistance at the Ichimoku cloud’s kijun, but this could turn into a bullish tenkan-kijun cross in the near future.

The current region might provide support with the confluence of daily orderblocks around 0.000025 and the tenkan line. If this fails, other possible supports lie at daily orderblocks around 0.000015 and 0.00001. 

Tuesday’s announcement could provide excitement to create a higher low in the current area and spur price upward.


Zcoin (XZC)

Zcoin (XZC)

Price
$11.60 (1.65 %)
฿0.00098209 (-3.25 %)

Market Cap
$91 436 894
฿7 738.81

Volume (24h)
$2 292 454
฿194.02

Exchange
Binance

After a half-year consolidation period, XZC began showing volatility. A move up turned into a move down until price found a low near 0.0008 and set a higher low near 0.0009.

This volatility created a c-clamp setup on the Ichimoku indicator, which often results in a short move to close the gap between the tenkan and kijun. If this plays out, yet another higher low will form, creating a stronger bullish trend.

This scenario could also result in the daily price could even begin trading above the cloud - creating a much more bullish chart. This requires a break of the resistance at the top of the cloud and weekly orderblock near 0.0014.

On a higher timeframe, this Thursday’s launch of the new privacy protocol Sigma could provide the catalyst for a much longer-term move upward.

Newsletter
05 August 2019
3 coins to keep an eye on | Issue #41
After an indecisive July, bulls began pushing Bitcoin up for five consecutive days.  It's still unclear whether this is the move that will lead to a continuation of the bullish trend on a higher timeframe, but the price did break the pivot around $10,600 with no hesitation. The altcoin marketcap has barely budged, ...
Newsletter
29 July 2019
3 coins to keep an eye on | Issue #40
Bitcoin dangles on the edge of the precipice. A move up or down could significantly affect the bearishness or bullishness of the chart - but the final direction remains to be seen. Meanwhile, the altcoin marketcap has held relatively steady for the last week. Many altcoin charts are beginning to look more bullish and may g...
Newsletter
08 April 2019
3 coins to keep an eye on | Issue #30
Bitcoin finally gave us the anticipated significant move. Bulls bathed in the tears of bears as price rocketed over $1000 upwards. This move induced a short-lived panic in the altcoin market. Many traders were able to enter at bargain prices, while others found their stops run and charts filled with ruined price action. ...

3 coins to keep an eye on 👀