Lisk (LSK)
$1.39 (0.44 %) View coin |
Nash Exchange (NEX)
$0.908775 (0.37 %) View coin |
Ontology (ONT)
$0.779509 (-2.77 %) View coin
Newsletter
19 August 2019

3 coins to keep an eye on | Issue #43

Hello everyone!

Last week saw a 17.51% drop in Bitcoin’s price as it continues to chop through its range just above the .618 Fibonacci retracement. It’s still unclear whether this is a distribution that will lead to a drop, or whether a bull flag is forming to assault 2017’s highs. 

Meanwhile, the altcoin marketcap continues to steadily decline, with approximately 10 billion in losses over the last week.

While we wait for the next move from Bitcoin - which should happen during the next couple weeks as the current price formation collides with the uptrend line - here are three coins with events on CoinMarketCal to keep an eye on during this week.

@tradeprophet


Lisk (LSK)

Lisk (LSK)

Price
$1.30 (7.00 %)
฿0.00012366 (3.05 %)

Market Cap
$155 538 497
฿14 769.75

Volume (24h)
$4 094 000
฿388.76

Exchange
Binance

After reaching its first local bottom in mid-July, LSK is potentially forming a bottom around 0.00011. Late July’s short downtrend reversed in early August for a short climb into resistance at a daily orderblock and weekly level at 0.0001219.

Price has consolidated under this resistance (a bullish sign), with an abnormally high-volume spike punching through resistance to tap the next daily orderblock above around 0.000145. This shows some weakness from bears.

However, MFI is trending downward during this climb. This means that bulls should use some caution if entering in this region, since this MFI divergence may be hinting at a reversal of the short-term bullish trend and continuation of the longer-term bearish downtrend.

Friday's soft fork may negate this MFI divergence and propel price upward through the resistance.


Nash Exchange (NEX)

Nash Exchange (NEX)

Price
$2.62 (-1.28 %)
฿0.00024875 (-4.40 %)

Market Cap
$94 819 657
฿9 003.96

Volume (24h)
$1 495 965
฿142.06

Exchange
Binance

After a horrific drop beginning in April, NEX spent three months building an ascending triangle - possibly a sign of accumulation before a larger move upward.

So far, bears have held their line at the daily orderblock around 0.00027. This resistance may not hold much longer as the bullish trendline converges with a weekly pivot level. 

It remains to be seen whether this weekly level can provide support for price in preparation to break the overlying resistance. If it fails to hold, the confluence of the bullish trendline and supporting weekly orderblock is likely to preserve the ascending triangle formation.

With the launch of the Nash Exchange coming this Friday, it seems likely that this accumulation period will soon come to a close and large players may push the price upward.


Ontology (ONT)

Ontology (ONT)

Price
$0.785480 (2.47 %)
฿0.00007459 (-1.03 %)

Market Cap
$418 939 888
฿39 782.04

Volume (24h)
$54 243 624
฿5 150.91

Exchange
Binance

ONT’s steady bleed over the summer halted in early August. A double bottom formed one week later, which could hint at a longer-term reversal. 

This double bottom is also accompanied by a strong bullish divergence, which increases the probability that an upward move is coming. A likely first target is at a daily orderblock inside a weekly orderblock at 0.000095, just above the current price. 

If this orderblock is breached, the price could rise as high as the next significant weekly level at 0.00016, which would provide bulls with entries at the current region with excellent profits. Today’s listing on Upbit Indonesia might help propel the price upward as ONT becomes available to a larger market.

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
29 June 2020
3 coins to keep an eye on | Issue #84
It's been another wild week in Bitcoin with the price covering a nearly 10% range - jumping up to short stops at $9,800 before plummeting down to near $8,800. The altcoin marketcap mirrored Bitcoin's movements with its value climbing from $94 to $98 billion, before ending the week near $90 billion. While we wait to see ...
Staking has been a trending theme over the last few years. The high-profile launches Cosmos and Tezos, the rise of staking services, and the noise generated by Ethereum’s long-awaited upgrade have all helped drive the narrative that proof-of-stake (PoS) could be the next evolution of consensus mecha...

3 coins to keep an eye on 👀