Pundi X (NPXS)
$0.000145 (-3.80 %) View coin |
Dent (DENT)
$0.000220 (-2.86 %) View coin |
Lisk (LSK)
$1.35 (-2.10 %) View coin
Newsletter
27 August 2018

3 coins to keep an eye on | Issue #5

Hello everyone!

Bitcoin’s uncertain short-term future holds the market in a state of limbo (when lambo?) as some altcoins hint at reversal.

You may want to keep an eye on these three coins which have events in the upcoming week.

Although counter-trend trades are risky, you may be able to catch a small bounce - or even the start of a new trend.

@tradeprophet


Pundi X (NPXS)

Pundi X (NPXS)

Price
0.001871 USD (14.32 %)
0.00000028 BTC (12.10 %)

Market Cap
181 921 482 USD
27 050.00 BTC

Volume (24h)
12 259 838 USD
1 822.92 BTC

Trade
Hotbit

Price began to stabilize in late July between 0.0000002 and 0.0000003 after breaking the downtrend supply line.

Since then, price has accumulated for approximately a month, printing a TD9 on Tom DeMark’s sequential indicator. This candle often functions as support or resistance. In this case it supported consolidation.

In the latter half of August, price set its first higher low, printing not only a Williams fractal pattern which suggests reversal, but also an inverse head-and-shoulders - which could be the bottom. It remains to be seen whether a higher high will be printed.

Price did close over the daily countback line twice, which can serve as a long entry signal. Additionally, the Chaikin Money Flow indicator just crossed zero, which suggests the downtrend may be over.

It seems unlikely that a major drop in price will occur before the airdrop snapshot, since most holders will want to maximize their snapshot balance.


Dent (DENT)

Dent (DENT)

Price
0.003164 USD (-1.44 %)
0.00000047 BTC (-2.09 %)

Market Cap
54 544 963 USD
8 107.00 BTC

Volume (24h)
12 601 599 USD
1 873.00 BTC

Trade
Kucoin

A handful of coins have recently been in a short-term uptrend. DENT is one of these coins.

Since the middle of August, DENT’s price has been steadily climbing after the daily closed through the countback line and retested it for several days.

The guppy indicator’s faster “trader” EMAs have begun to enter the slower “investor” EMAs. This suggests that this bounce may become more than a simple dead cat bounce and could progress into a full-blown trend reversal.

In the last few days, DENT’s trajectory began to aggressively lift off the previously steady trend demand line - a possible sign that FOMO is beginning to engage.

A massive spike was aggressively rejected when it tapped the next resistance zone, but this may have helped to clear supply as the supply was absorbed by buyers in the zone below.

DENT is likely to print a TD9 in the first resistance zone, which may provide an entry opportunity in the resulting consolidation.

The exact date on which the apps will be released is unknown. It is possible price may collapse on the news, but so far the bullish trend has been very stable.


Lisk (LSK)

Lisk (LSK)

Price
5.00 USD (0.67 %)
0.00074298 BTC (-0.19 %)

Market Cap
547 090 802 USD
81 347.00 BTC

Volume (24h)
10 226 110 USD
1 520.52 BTC

Trade
Binance

In mid-August, LSK abruptly reversed trend and nearly doubled in price.

Since then, the guppy’s faster “trader” EMAs have pierced the slower “investor” EMAs on the daily, which indicates a trend reversal may have occurred.

Because of the massive daily reversal candle, many traders are likely to have missed the optimal entries dictated by their trading strategies. An opportunity for sidelined traders to join in the apparent trend reversal may present itself in the next week.

Underneath price is a bullish orderblock which formed around two TD9 candles in the downtrend. A bullish impulse originated in this consolidation zone last week.

If price retraces to the supporting orderblock before Core 1.0 is released on the mainnet, a tap of the orderblock could provide support for a bounce to confirm a bullish higher swing low and suggest continuation of the uptrend.

Alternatively, if Core 1.0 is released before price retraces to the orderblock, traders “selling the news” may exhaust sellers as price reaches the orderblock. This would provide bulls with little resistance to resume the uptrend.

A longer-term catalyst for a bullish trend to continue is the LSK decentralized exchange launch and sidechain withdraw/deposit, which is planned for release in October.

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...
Newsletter
18 November 2019
3 coins to keep an eye on | Issue #56
Last week, Bitcoin dropped 7.85% as it continued its gentle descent after the failed retest of the prior supporting orderblock around $9750. The price is currently resting on a pivotal level marked by the top of the daily orderblock around $8420, testing it for support. If this level doesn't hold, a much more significant d...
Newsletter
30 September 2019
3 coins to keep an eye on | Issue #49
Bitcoin's move that we've all been waiting for finally happened last week. After consolidating for nearly three months, Bitcoin dropped 23% over a few days before finding some stability in the weekly orderblock around $8,000.  This drop may be a shakeout before another move up, but bears currently have the upper hand....

3 coins to keep an eye on 👀