EOS (EOS)
$2.53 (-1.69 %) View coin |
Waves (WAVES)
$2.54 (1.78 %) View coin |
Verge (XVG)
$0.004072 (-3.75 %) 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.

Newsletter
31 August 2020
3 coins to keep an eye on | Issue #93
The market's mood may have been more volatile than Bitcoin's price this week as it trapped bears near the bottom of its 6.48% range before climbing to $11,709, a mere $55 above the weekly open at $11,654. The altcoin marketcap dipped alongside BTC, from $151 billion to as low as $145 billion before ending the week higher a...
Newsletter
17 August 2020
3 coins to keep an eye on | Issue #91
Bitcoin continued sweeping higher, passing through an 8.45% range from the lows near $11,200 up to the weekly close at $11,914. This 2% higher weekly close led to an explosive bullish move today as bulls broke critical resistance at early August's highs near $12,120. Will the BTC breakout hold for the next leg up, temporar...
Newsletter
10 August 2020
3 coins to keep an eye on | Issue #90
Bitcoin's 9% upward grind culminated with an upward explosion last night after the week closed 5.49% higher. Another bullish week for Bitcoin could be in the works, with a higher weekly close triggering higher-timeframe longs for some traders. Meanwhile, the altcoin market has continued to pump euphorically, although Bitco...

3 coins to keep an eye on 👀