EOS (EOS)
$2.47 (4.34 %) View coin |
Waves (WAVES)
$1.13 (-0.41 %) View coin |
Verge (XVG)
$0.006943 (-4.55 %) View coin
Newsletter
02 December 2019

3 coins to keep an eye on | Issue #58

Hello everyone!

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. If the bears continue to control the market, then the next potential support level to watch on is at the weekly orderblock around $5488.

Meanwhile, the altcoin marketcap accompanied Bitcoin’s surge with a $7 billion gain from $61 billion to $68 billion - despite the major altcoins showing signs of weakness. As Bitcoin’s local downtrend continues and the altcoin market shows indecisiveness, here are three coins with events listen on CoinMarketCal during the upcoming week for traders to keep an eye on.

@tradeprophet


EOS (EOS)

EOS (EOS)

Price
$2.69 (-3.27 %)
฿0.00036808 (-1.94 %)

Market Cap
$2 532 074 866
฿346 966.21

Volume (24h)
$1 668 162 081
฿228 585.61

Exchange
Binance

Longer-term trend traders waiting for an opportunity from EOS have been impatiently tapping their fingers - but range traders have had a fantastic chance for profit.

The bulls and bears continue their struggle between the strong resistance at the range’s upper bound (marked by the EQ of a weekly orderblock near 0.000416) and the support at the lower bound (created by the overlap of weekly orderblocks around 0.000351). The price is currently trading above the Ichimoku cloud, which suggests a moderately bullish bias. 

As the price hovers in the middle of the range, bears can relish a high chance of success from opening shorts (fueled by OKEx’s release of EOS/USDT futures trading) near the daily orderblock around 0.0003946. Bulls may want to eye entries at potential support near the top of the daily orderblock at 0.0003694.


Waves (WAVES)

Waves (WAVES)

Price
$0.593182 (-2.20 %)
฿0.00008128 (-0.97 %)

Market Cap
$59 608 520
฿8 168.06

Volume (24h)
$10 197 203
฿1 397.31

Exchange
Binance

The euphoria of late 2017 has turned to despair for WAVES investors - but a short-term reversal may be in the works.

The price is potentially forming a double bottom (with a slightly higher second low) around 0.0000811. This double bottom has yet to be confirmed but should be considered by both bulls and bears.

Meanwhile, confirmed resistance is at the EQ of the daily orderblock at 0.0000955. Probable resistance rests in the daily orderblock around 0.0000911, providing a target for bulls planning short-term trades.

Bulls should beware of a break lower - but may want to consider the c-clamp pattern forming on the Ichimoku cloud as encouragement for short-term longs. Meanwhile, the Waves Exchange launch provides some fundamental justification for the possible double-bottom to be confirmed.


Verge (XVG)

Verge (XVG)

Price
$0.003904 (3.37 %)
฿0.00000054 (4.04 %)

Market Cap
$62 797 067
฿8 604.98

Volume (24h)
$2 583 111
฿353.96

Exchange
Binance

XVG’s plunge to doom that began in early 2018 may be turning into a curved bottom. A s a recent bullish impulse in mid-November propelled the price into consolidation under resistance, forming the right side of the curve.

Currently, a bullish flag is forming at the top of the impulse’s staff. This flag might hint at another move upward. 

The weekly orderblock providing resistance has provided strong resistance - but traders might consider the price’s reclamation of the pivot, forming the bottom of the range between 0.00000051 and 0.00000054, as a sign of strength.

Otherwise, if this flag’s support fails to hold, bulls optimistic about Friday’s listing on Bitfare may want to consider an entry near the daily orderblock at 0.00000042 while bears short a retest of the range.

A relatively new research report that examines the on-chain traffic of the EOS, Tezos, and XRPL networks has gained some attention due to a recently released article from Decrypt. While the study states each chain is capable of supporting a high transaction throughput, it determined that only a smal...
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...
Block.one, the firm that launched the EOS blockchain, has announced plans to start putting its 100 million EOS holdings to use next month by actively staking and voting on the network. Up until this point, the company has remained neutral regarding which network participants get voted into the covet...

3 coins to keep an eye on 👀