Tezos (XTZ)
$1.56 (-4.90 %) View coin |
TRON (TRX)
$0.011383 (-1.06 %) View coin |
Enjin Coin (ENJ)
$0.084927 (-1.85 %) View coin
Newsletter
05 August 2019

3 coins to keep an eye on | Issue #41

Hello everyone!

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, although many altcoins plummeted as soon as Bitcoin began to move. 

While waiting for charts to paint opportunities for longer-term altcoin trends, here are three coins with events listed on CoinMarketCal that may provide short-term opportunities.

@tradeprophet


Tezos (XTZ)

Tezos (XTZ)

Price
$1.38 (-3.87 %)
฿0.00011764 (-11.34 %)

Market Cap
$913 135 269
฿77 688.63

Volume (24h)
$11 676 627
฿993.44

Exchange
Binance

After a two month downtrend, XTZ found a bottom near 0.00007963 in late June. 

The initial movement upward met with resistance at the EQ of a daily orderblock near 0.00011432, but the second attempt surged through this resistance last week.

Price is hovering above two significant weekly levels but pinned down by resistance from an orderblock at 0.00013593.

If these weekly levels support the price, a range is likely to form under the orderblock and on the weekly levels, offering traders scalping opportunities during the next week. If this level fails to hold, strong support can be expected at the overlap of daily orderblocks starting 0.00011446.

It seems likely that this bullish trend will continue, as XTZ’s Coinbase Pro Listing today opens the door to more investors.


TRON (TRX)

TRON (TRX)

Price
$0.023181 (3.74 %)
฿0.00000197 (-4.48 %)

Market Cap
$1 545 742 003
฿131 510.17

Volume (24h)
$434 510 285
฿36 967.70

Exchange
Binance

TRX has been in a steady decline for nearly all of 2019, and recently broke a critical support zone around 0.00000265.

While a longer-term reversal during the next week seems unlikely, a short-term bounce may be incoming. The last several times that the RSI broke 30 a short relief period occurred. 

The price is currently in an orderblock from TRX’s initial explosion in December 2017, and RSI is dipping below 30. These factors, in conjunction with the Sun Network Mainnet launch on Saturday, could provide a short-term long in the current area.


Enjin Coin (ENJ)

Enjin Coin (ENJ)

Price
$0.078208 (-2.59 %)
฿0.00000665 (-10.19 %)

Market Cap
$60 695 753
฿5 163.93

Volume (24h)
$2 613 752
฿222.38

Exchange
Binance

A short-term bounce could be in the cards this week for ENJ. A significant weekly level lies below the price, starting around 0.00000457. A little closer, at 0.00000633, is a daily orderblock.

These could provide support for a quick long position. Similar to TRX, the price has been bouncing or forming a range when the RSI becomes oversold. 

With the RSI entering oversold this week, potential supports just below, and the addition of ERC-1155 support, it seems likely that an opportunity may present itself for bulls to enter with a target in the daily orderblock around 0.00000790.

Members of the Steem community have planned to launch a new network, called Hive, this Friday to act as an alternative to the embattled Steem blockchain. As a fork of its Steem predecessor, Hive will airdrop its native HIVE tokens (as well as Hive Dollars) to all existing Steem accounts; all except ...
Yesterday, we spotted an anomaly in the supply curve of Tezos. On Jan. 29, almost 9 million new XTZ (about 1.3% of the reported supply at the time) entered into the circulating supply. Since the annual issuance rate of Tezos sits around 5.5% (with small variations in either direction), this signific...
With the recent market turmoil most large cryptoassets saw their year-to-date (YTD) returns turn negative. Bitcoin is now down 15.85% while Ethereum is down 0.95%. The two outliers, BitcoinSV and Tezos had seen dramatic jumps in price earlier this year leaving them still in the green YTD. Messar...

3 coins to keep an eye on 👀