ICON (ICX)
$0.351641 (0.10 %) View coin |
IOST (IOST)
$0.006395 (-1.01 %) View coin |
v.systems (VSYS)
$0.025098 (1.63 %) View coin
Newsletter
26 August 2019

3 coins to keep an eye on | Issue #44

Hello everyone!

Bitcoin has continued to hammer at the support around $9,900 during a relatively uneventful week. As volume drops off, a move comes closer - but will it be a move up to test resistance in the upper $11,000’s, or a drop through the weakened support to test the next level in the upper $8,000s?

Meanwhile, the altcoin marketcap continues to hover between $87 billion and $82 billion. Many coins are suggesting they’ve reached a local bottom and may begin an uptrend, but this could also be the fakeout before a drop even lower.

Here are three coins with events for this week listed on CoinMarketCal to keep an eye on as the market waits.

@tradeprophet


ICON (ICX)

ICON (ICX)

Price
$0.233270 (-0.57 %)
฿0.00002262 (-2.50 %)

Market Cap
$114 393 418
฿11 094.34

Volume (24h)
$19 967 483
฿1 936.53

Exchange
Binance

Q2 and Q3 have been remarkably bearish for ICX as holders continue to dump their last coins. This bearish trend could be about to change.

A short move down during late July and early August found a bottom at 0.0000161. Since August 9th the price has been in a short-term bullish trend, which a higher low confirmed at 0.0000176. A recent bullish tenkan-kijun cross on the daily Ichimoku indicator further supports this bullish movement.

The first attempt by bulls on the resistance at the weekly orderblock around 0.000027 was defeated, but a bullish daily orderblock rests below at the former resistance near 0.00002. If the price drops this low, this gives traders optimistic about ICX’s upcoming events an excellent risk-reward entry. 

Traders may also want to keep an eye on the Ichimoku cloud’s lagging span, as a breakthrough price could mark the beginning of a more aggressive bullish trend.


IOST (IOST)

IOST (IOST)

Price
$0.008333 (0.10 %)
฿0.00000081 (-1.90 %)

Market Cap
$100 113 519
฿9 709.41

Volume (24h)
$29 472 244
฿2 858.34

Exchange
Binance

Like many other altcoins, IOST suffered a devastating Q2 and Q3. Also like many other altcoins, this downtrend could be reversing with a recent slightly higher low that forms a double bottom at 0.00000070.

The current triangle’s uptrend and downtrend lines converge in approximately two weeks, which means that a move soon is likely. Price is currently trapped under the EQ of a bearish daily orderblock but is likely to find support at the confluence of the underlying bullish daily orderblock, bullish trendline, and most recent low around 0.00000073. 

This confluence of bullish factors could develop into a longer-term bullish trend with IOST’s upcoming releases, including the Dex.top release this week, other dApps, and official IOST network release.


v.systems (VSYS)

v.systems (VSYS)

Price
$0.191021 (2.36 %)
฿0.00001853 (0.12 %)

Market Cap
$341 810 791
฿33 150.19

Volume (24h)
$15 329 127
฿1 486.68

Exchange
Binance

A relatively short history means that VSYS is making critical moves that will define its future. After an incredible listing spike, the price found support at 0.00001731 and formed a range reaching up to 0.00002171. 

This support continues to be assaulted daily by bears. This constant battering may have weakened the support, but it so far continues to hold.

Resistance lies above at the daily orderblock around 0.0000195. It’s still unclear whether the price will break support or resistance first, but the OKEx listing this Tuesday may give some extra power to bulls. Meanwhile, traders may be able to profit from playing this range.

Newsletter
25 May 2020
3 coins to keep an eye on | Issue #79
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Newsletter
27 January 2020
3 coins to keep an eye on | Issue #66
Despite a 6.29% drop from its high to its low, Bitcoin closed the week with a mere 0.89% drop at $8621 from its open at $8799.  Although the current short-term momentum is upward, weekly and monthly resistance lies just overhead - leaving bulls unsure if a move up is coming, and bears ready to take advantage of any si...

3 coins to keep an eye on 👀