Tezos (XTZ)
$2.68 (4.97 %) View coin |
TRON (TRX)
$0.018300 (-1.33 %) View coin |
Enjin Coin (ENJ)
$0.179979 (1.12 %) 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.

Newsletter
06 July 2020
3 coins to keep an eye on | Issue #85
It's been a slow week for Bitcoin's longer-term trend traders as they wait for the price to make a move from the magnetic $9100 region. After covering a 4.2% range during the week, last week's candle closed a mere 0.43% lower - possibly signaling the end of June's downtrend? Meanwhile, the altcoin marketcap spent last week...
Newsletter
15 June 2020
3 coins to keep an eye on | Issue #82
Early June's breakout-buying bulls had a rough time this week as Bitcoin fell another 4.36% to its close after covering a nearly 10% range from top to bottom. The altcoin market cap dropped alongside Bitcoin from $97 billion to $93 billion - just as many altcoin charts began to look ready for a breakout. While we wait f...
Crypto exchange Coinbase has rolled out Tezos staking rewards for customers based in the UK, France, Spain, and The Netherlands. Customers will now be able to earn an estimated ~5% annual return on their otherwise idle XTZ holdings by keeping these funds on the exchange. The announcement fits withi...

3 coins to keep an eye on 👀