Cosmos (ATOM)
$2.32 (-2.73 %) View coin |
Holo (HOT)
$0.000349 (-2.06 %) View coin |
Zcash (ZEC)
$36.51 (-2.24 %) View coin
Newsletter
09 December 2019

3 coins to keep an eye on | Issue #59

Hello everyone!

Despite BTC's respectable 9.67% range up to $7,772 during the last week, bears rejected the move upward to reclaim the weekly level. The high around $7,632 was still 1.26% short of the previous weekly high at $7,870, creating a lower high and beginning the pattern for a bearish pennant.

As Bitcoin starting hinting at a bearish move, the altcoin marketcap holds relatively stable with a small climb from $67 to $68 billion. However, this is still a far cry from the $80 billion value boasted at this time last month.

Although trade opportunities might be slim in the current market conditions, here are three coins to keep an eye on with events listed on CoinMarketCal during the upcoming week.

@tradeprophet


Cosmos (ATOM)

Cosmos (ATOM)

Price
$3.88 (-0.87 %)
฿0.00051694 (0.26 %)

Market Cap
$739 251 357
฿98 574.29

Volume (24h)
$202 663 406
฿27 023.83

Exchange
Binance

ATOM has had little respect for the bearish conditions in the rest of the market as it prints a solidly bullish trend (starting in Q3 2019).

Currently, bulls are butting their heads against resistance for the third time around the confluence of daily and weekly orderblocks near 0.00052. Support has recently held twice at the EQ of the daily orderblock near 0.0004677 and previously at the kijun and another daily orderblock around 0.0003912. 

These moves may be forming a rising wedge pattern, which may hint at an upcoming retracement. However, a brief move down may give optimistic bulls a better entry. 

The release of the Cosmos Hub 3 Chain this Wednesday could provide bulls with enough power to break upward and invalidate the rising wedge.


Holo (HOT)

Holo (HOT)

Price
$0.000725 (-0.38 %)
฿0.00000010 (0.69 %)

Market Cap
$117 144 231
฿15 620.41

Volume (24h)
$6 747 609
฿899.75

Exchange
Binance

HOT has left trend traders yawning since setting a low at 0.00000007 in August. On the other hand, range traders have had an exceptional opportunity for profit.

After climbing up to 0.00000013 in October to set a range high, the price has retraced to the range’s pivot level at 0.00000009. Support held here through late October and early November, but that is no guarantee that it will continue to hold on this second test.

If the price breaks down through this pivot level, bulls may want to enter near the all-time low and range bottom at 0.00000007. More optimistic bulls may want to eye entries in the current pivot region and target the top of the range. 

This Wednesday’s AMA may provide some catalyst for a move in either direction.


Zcash (ZEC)

Zcash (ZEC)

Price
$31.24 (4.68 %)
฿0.00416519 (5.24 %)

Market Cap
$250 761 401
฿33 437.38

Volume (24h)
$130 675 954
฿17 424.78

Exchange
Binance

Although ZEC has been in a long-term downtrend, recent market activity suggests that a short rebound might be incoming.

An explosive 11.88% surge upward last week crashed into resistance at the lower boundary of the daily orderblock around 0.00415546, reinforced by the weekly kijun and a pivot. The price briefly retraced almost to the .236 Fibonacci level before stabilizing around the tenkan and a weekly level.

This week has kicked off with a move up into the daily level and orderblock around 0.00400658 - which could lead to the price reclaiming the pivot. If so, a further move upward may be incoming. 

With the Blossom Network Update this Wednesday, bulls might find enough support to recover this critical level.

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...
Top Cosmos contributor, All in Bits Inc. (DBA Tendermint Inc.), announced it would “part ways” with its IBC (Inter-Blockchain Protocol) and Tendermint Core teams. The two groups of engineers will team up to form a new Germany-based company backed by the Interchain Foundation (ICF) to continue their ...
Newsletter
10 February 2020
3 coins to keep an eye on | Issue #68
Bitcoin bulls continue their rampage upward after support held at $9,100. Last week's candle decisively closed over the weekly levels at $9,533 and $9,753 after covering a 12.40% range. Will the momentum continue this week, giving us a candle close over the weekly and monthly levels between $10,300 and $10,400? Meanwhile, ...
No upcoming event.

3 coins to keep an eye on 👀