QASH (QASH)
$0.055006 (-6.32 %) View coin |
Dragonchain (DRGN)
$0.053060 (0.63 %) View coin |
VeChain (VET)
$0.006469 (-8.18 %) View coin
Newsletter
03 September 2018

3 coins to keep an eye on | Issue #6

Hello everyone!

Many altcoins have begun to provide bullish setups. Some have already made impressive short-term gains after the massive losses of this year’s bear market.

In this week’s issue, we take a look at three coins with significant events in the upcoming week which also have charts suggesting trend reversal.

While these coins may provide short-term long opportunities, on higher time frames we are still in a significant bear trend. This may be the point of maximum financial opportunity to catch the start of new trends, but nothing is guaranteed. Keep your stops tight!

@tradeprophet


QASH (QASH)

QASH (QASH)

Price
0.226785 USD (-7.58 %)
0.00003126 BTC (-6.66 %)

Market Cap
79 374 675 USD
10 941.00 BTC

Volume (24h)
850 957 USD
117.30 BTC

Trade
Huobi

In mid-August, price broke through QASH’s long-term downtrend supply line and began to slowly climb.

Since then price has gradually climbed with an impulse through local resistance and confirming this resistance as support. During the last week, price began to form a potential bull flag above the previous resistance, and under the next resistance.

The Tom Denmark sequential indicator printed a TD9 candle on the Decemeber 2017 low, which has provided support for this flag. Another TD9 candle was printed near the end of August under the resistance immediately above price created by June’s weekly lows. This created boundaries for the bull flag structure in which price is ranging.

Additionally, the guppy indicator’s trader EMAs are beginning to cut through the investor EMAs.

The compression of the investor EMAs also hints that high volatility is incoming, so traders should be cautious as they take positions.

The faster investor EMAs are beginning to curl up, suggesting that longer-term traders have stopped selling. This further suggests that this bounce may be a genuine reversal and re-accumulation is occurring.

On Tuesday, Quionex and Qryptos will merge to form the Liquid exchange. QASH will provide significant utility on the Liquid exchange for paying fees, services, and more - similar to BNB.

This week may provide a low-risk entry opportunity for optimistic traders as the trend reversal  suggested by technical analysis coincides with the significant catalyst given by the launch of QASH’s primary use case.


Dragonchain (DRGN)

Dragonchain (DRGN)

Price
0.204924 USD (-3.09 %)
0.00002825 BTC (-2.62 %)

Market Cap
48 858 437 USD
6 735.00 BTC

Volume (24h)
485 370 USD
66.90 BTC

Trade
Fatbtc

After nine months in a downtrend, DRGN is beginning to show its most convincing signs yet of reversal.

The Williams Fractals indicator has printed a steady series of higher highs and lows since mid-August. This can often be an early indicator of trend reversal.

Price has begun to compress under the second resistance after flipping the first resistance into support, while also continuing its steady several week uptrend.

The MA13 created a bullish cross over the MA30 last week, which is the the first bullish cross of these MAs in nearly five months. The last time they crossed, price climbed 55% within a week and a half before resuming the downtrend.

The release next Sunday of the SlumberSwap application built on DRGN may provide enough catalyst to keep price climbing through the week.


VeChain (VET)

VeChain (VET)

Price
0.017819 USD (-2.47 %)
0.00000246 BTC (-2.06 %)

Market Cap
988 137 830 USD
136 205.00 BTC

Volume (24h)
19 142 186 USD
2 638.55 BTC

Trade
Binance

Like many other altcoins, VET broke its downtrend in mid-August with an aggressive bullish impulse and doubled in price over a few days. Since then it has been consolidating under resistance while setting consistent higher lows.

Price may be forming a bullish ascending triangle with a failed breakout that was rejected by resistance and formed a TD9 which has provided more resistance.

Price could also be viewed as beginning to form a rising wedge. This is typically a bearish pattern. Price would need to break the current local highs and resistance to confirm this wedge, which would provide an intra-week long scalp opportunity.

The conflicting sentiment of the two patterns forming may reflect the markets uncertainty of what Wednesday's announcement will bring. An “announcement of partnership with an automobile giant” will be given, which could provide an immensely bullish catalyst.

Alternatively, this announcement could be exceptionally disappointing, and lead to continuation of the higher-timeframe downtrend.

The clean upward trend of the last few weeks, and previous resistance turned support provides a level which traders who expect the news to result in bullish continuation can use to define risk for a long entry.

Newsletter
11 March 2019
3 coins to keep an eye on | Issue #28
Bitcoin's price has been steadily creeping upward for the last month. The altcoin marketcap has also climbed with Bitcoin, although still has not broken December 2018's high. However, a number of coins are showing impressive gains. Despite the recent euphoria, it may be wise to trade with caution. Bitcoin is currentl...
No upcoming event.

3 coins to keep an eye on 👀