IOST (IOST)
$0.005036 (-3.92 %) View coin |
Monero (XMR)
$126.05 (-5.23 %) View coin |
0x (ZRX)
$0.343343 (-4.37 %) View coin
Newsletter
25 November 2019

3 coins to keep an eye on | Issue #57

Hello everyone!

During this last week, Bitcoin’s price plunged faster than the bulls’ tears, dropping over 20% to $6785. Possible support lies at a daily orderblock ranging from approximately $6200 to $6475, but more secure support is at the confluence of a daily and a weekly orderblock between $5627 and $5784.

Bears may get another chance at entry if price retests old support at the bottom of a weekly and a daily orderblock between $7432 and $7094 - but the price could simply continue dropping. Meanwhile, the altcoin marketcap has taken a $17 billion nosedive along with BTC.

It’s been a harsh week for crypto bulls - but here are three coins to keep an eye on that have events on CoinMarketCal during the upcoming week.

@tradeprophet


IOST (IOST)

IOST (IOST)

Price
$0.004923 (2.73 %)
฿0.00000068 (1.66 %)

Market Cap
$59 150 068
฿8 163.76

Volume (24h)
$37 677 191
฿5 200.12

Exchange
Binance

IOST’s price has been steadily plunging since April 2019. Still, traders may have an opportunity to play a range that may be forming.

After setting a low at 0.00000045 during the end of October, the price has retraced upward to test an overlying weekly orderblock around 0.0000008. 

Bulls met resistance on both tries to break upwards, creating a double top at the weekly order blocks EQ and leaving the Ichimoku cloud on the verge of creating a bearish TK cross.

However, potentially strong support does rest underneath at the confluence of a weekly and several daily orderblocks around 0.00000054. If a range forms, this level is likely to be the bottom. 

Traders hoping to play a range can look forward to the incoming bullish Ichimoku cloud twist along with the staking pool launch on Saturday as inspiration for a move upward.


Monero (XMR)

Monero (XMR)

Price
$50.68 (2.81 %)
฿0.00701349 (1.38 %)

Market Cap
$878 059 028
฿121 503.57

Volume (24h)
$155 239 353
฿21 481.63

Exchange
Binance

Although it has not fallen as fast as many other altcoins, XMR has also had a less-than-glamorous year - holding a steady downtrend since late April.

A low at 0.00603251 during late October did result in a rebound nearly reaching to resistance at a weekly and daily orderblock around 0.007913. While this attempt did technically set a higher local high, the price is currently retracing.

If the price breaks down through the weekly level at 0.00687325, it’s likely to test the daily orderblock around 0.00647643. Bulls optimistic about this Saturday’s protocol upgrade and eyeing the significance of the RSI’s current zone may want to consider an entry in this zone.


0x (ZRX)

0x (ZRX)

Price
$0.247015 (0.46 %)
฿0.00003409 (-0.39 %)

Market Cap
$148 716 310
฿20 525.48

Volume (24h)
$54 666 227
฿7 544.91

Exchange
Binance

Since early September, ZRX has been a cash cow for bulls as it nearly doubled in value. 

The price is currently trapped just under a weekly and daily orderblock with lower boundaries around 0.00003735. However, the trend suggests it may continue upward, as an ascending triangle forms under this resistance.

The recent bullish TK cross gives support to a bullish bias for a continued uptrend, and the decreasing volume suggests that sell pressure near the resistance may be drying up. 

The 0x V3 proposal going live today provides more fundamental support for bulls, who may want to eye entries along the current short-term bullish trendline.

No other news.
No upcoming event.

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