Insight Chain (INB)
$0.441107 (-0.70 %) View coin |
ThoreNext (THX)
$0.049474 (-51.07 %) View coin |
Waves (WAVES)
$1.13 (-0.53 %) View coin
Newsletter
07 October 2019

3 coins to keep an eye on | Issue #50

Hello everyone!

Bitcoin wobbles in a tight 10% range after its massive plunge in late September. So far, it’s found support in May and June’s orderblocks, but price action is beginning to show classic signs of distribution in a market cycle.

Similarly, the altcoin marketcap has held relatively stable around $70 billion during the last week. A marketwide rally soon seems unlikely, so here are three coins with events on CoinMarketCal during the next week to keep an eye on.

@tradeprophet


Insight Chain (INB)

Insight Chain (INB)

Price
$0.342395 (0.15 %)
฿0.00004201 (-1.17 %)

Market Cap
$119 804 770
฿14 698.26

Volume (24h)
$13 111 128
฿1 608.54

Exchange
Binance

After a relatively dormant Q2 and Q3, INB may be beginning to gear up for a bull run. The price has broken out of an accumulation zone near 0.00003338 and is beginning to climb aggressively.

However, the sudden surge has pushed the RSI into overbought territory, which may signal a cool-off period incoming. This pause could give traders a chance to enter on a dip as price hovers around the EQ of a weekly orderblock near 0.000043.

If the price does retrace, orders placed around the daily orderblock at 0.0000366 could provide an excellent entry for traders targeting the current resistance - with the possibility of reaching the daily orderblock near 0.0000735. The mainnet launch this Thursday could provide the catalyst for a continued bull run.


ThoreNext (THX)

ThoreNext (THX)

Price
$7.45 (-1.71 %)
฿0.00091396 (-2.85 %)

Market Cap
$161 301 537
฿19 789.29

Volume (24h)
$132 978
฿16.31

Exchange
Binance

At first glance, the unusual THX chart looks quite mysterious. However, a break upward could be coming shortly.

A bullish trendline beginning in late July (before price rocketed upward) should collide with the current consolidation zone around 0.000922 later in October. The trendline in this current region is also supported by a daily orderblock, giving it extra strength.

The long lower candle wicks in this range show that buyers are aggressively purchasing every dip, suggesting that someone is expecting a further rise in price. It’s unclear whether a breakout or significant decline will happen in the next week, but the swap could give traders a chance to catch sudden drops and turn an immediate profit or accumulate before further bullish continuation.


Waves (WAVES)

Waves (WAVES)

Price
$0.903465 (0.33 %)
฿0.00011084 (-1.01 %)

Market Cap
$90 346 522
฿11 084.17

Volume (24h)
$13 334 885
฿1 635.99

Exchange
Binance

A relatively peaceful August and September for WAVES could be leading up to an incoming breakout.

Price has been ranging from the bottom of a weekly orderblock at 0.0001308 down to a weekly level at 0.0001022. So far, resistance at the weekly level around 0.0001122 has kept price trapped, but the bulls’ current third attempt to breakthrough may be different.

The Ichimoku cloud’s kijun is potentially flipping from resistance to support for the first time since May. It remains to be seen whether this will hold, but the new monetary policy could help push price through the current resistance and reach up to the next resistance (or beyond) at 0.0001308.

Newsletter
13 April 2020
3 coins to keep an eye on | Issue #74
Last week was less volatile in Bitcoin, despite the price climbing 10.61% from its lows at $6,750 to reach as high as $7,466. However, the weekly close hinted at weakness by only closing 1.91% higher than its open - leading to an immediate dump. The altcoin market cap saw a brief surge from $68 billion to $76 billion by mi...
Newsletter
02 December 2019
3 coins to keep an eye on | Issue #58
Brief euphoria gripped the bulls last week as Bitcoin's price rocketed up 20% from last November's dump level around $6618. However, the initial test of the previous support at $7933 appears to be a failed retest, providing bears with an excellent entry. This move is also the next piece of a classic distribution pattern. I...
Newsletter
17 June 2019
3 coins to keep an eye on | Issue #35
Bitcoin is off to the races again after a month-long consolidation period. The break of resistance at $8800 could trigger another wave of euphoria, with the area around $9800 posing a reasonable target. The altcoin marketcap also continues to trend upward gently. The news of Binance restrictions for US customers destroy...

3 coins to keep an eye on 👀