Crypto.com Coin (CRO)
$0.060024 (-1.59 %) View coin |
Maker (MKR)
$622.07 (-3.94 %) View coin |
TomoChain (TOMO)
$0.602860 (2.38 %) View coin
Newsletter
24 December 2019

3 coins to keep an eye on | Issue #61

Hello everyone!

Last week, the Bitcoin bulls rallied for a 16.34% gain after tapping support at the overlap of weekly orderblocks around $6515 - which is where last November’s plunge originated.

The price crashed into the top of the range at the cluster of weekly closes around $7550 - but failed to break upward from the bear flag formation. This ceiling might hint at a drop during the upcoming week.

Altcoin bulls were less enthusiastic, suffering a four billion dollar marketcap loss as the altcoin marketcap dropped from $65 billion to $61 billion.

While we wait through yet another indecisive consolidation period, here are three coins to keep an eye on with events on CoinMarketCal during the upcoming week.

@tradeprophet


Crypto.com Coin (CRO)

Crypto.com Coin (CRO)

Price
$0.034914 (-4.41 %)
฿0.00000477 (-1.51 %)

Market Cap
$435 639 409
฿59 576.59

Market Cap
$6 660 103
฿910.81

Exchange
Binance

Trend traders watching CRO since August might have fallen asleep from boredom as the price wobbled sideways through its range. If so, they missed the recent breakout.

A bullish TK cross on the Ichimoku cloud (just over a week ago) suggested bullish momentum. Then, last week, bulls crashed through the range’s final resistance around 0.00000479. 

Immediately after, a brief retest appears to have confirmed the resistance’s flip to support as a bull flag began forming.

The price is currently struggling with resistance from the Ichimoku cloud’s kijun, as well as a weekly orderblock hovering overhead. However, inside this weekly orderblock is an overlap of two daily orderblocks. This overlap gives a reasonable target for bulls speculating on possible news from this Friday’s joint AMA.


Maker (MKR)

Maker (MKR)

Price
$441.55 (-5.02 %)
฿0.06038440 (-2.05 %)

Market Cap
$441 546 321
฿60 384.40

Volume (24h)
$4 784 095
฿654.26

Exchange
Binance

After a played-out uptrend that began in August, MKR hangs at a make-or-break point. This setup gives both bulls and bears potential (but still unconfirmed) opportunities.

Not content with punching through resistance around 0.063 in early November, the bulls assaulted a weekly orderblock starting at 0.078735. This level provided stiff resistance and faded the bulls’ enthusiasm, resulting in the price’s gradual bleed to the previous 0.63 breakout level.

The overlap of daily and weekly orderblocks at this breakout level provided some support on last week’s first test - but for how long will it hold? 

A break of this level might leave bears targeting probable support at the daily orderblock and S1 around 0.0495. On the other hand, if this level holds, bulls might look for a short-term play focusing the weekly orderblock and pivot around 0.069.


TomoChain (TOMO)

TomoChain (TOMO)

Price
$0.582217 (0.46 %)
฿0.00007964 (2.86 %)

Market Cap
$39 110 265
฿5 349.96

Volume (24h)
$16 929 597
฿2 315.83

Exchange
Binance

December 8th marked the start of a stunning liftoff from TOMO, with the price printing an over 202% gain within a week.

As seasoned traders would expect, the frenzied pump has begun to cool off. Currently, it’s testing support at the daily orderblock around 0.00007286 (which shares its EQ with a crucial weekly level).

So far, this zone has provided support during the first test and could be the foundation for a forming bull flag - which would hint at further bullish continuation.

If bears take control and break this support level, another probable support is near the previous resistance at the weekly level and daily orderblock around 0.0000498. Otherwise, the current zone provides an excellent entry for bulls expecting continuation - especially if TOMO lets any fuel for hype slip during Friday’s joint AMA.

Newsletter
20 January 2020
3 coins to keep an eye on | Issue #65
Last week was another win for the bulls as BTC continued climbing. A 13.86% gain at the highest point at $9169 and a close with a 6.41% gain at $8698 flooded the market with euphoria. However, a quick drop right to $8450 before the close hints at weakness. It's unclear if this is the calm before a reversal, or whether the bul...
Newsletter
18 November 2019
3 coins to keep an eye on | Issue #56
Last week, Bitcoin dropped 7.85% as it continued its gentle descent after the failed retest of the prior supporting orderblock around $9750. The price is currently resting on a pivotal level marked by the top of the daily orderblock around $8420, testing it for support. If this level doesn't hold, a much more significant d...
Newsletter
11 November 2019
3 coins to keep an eye on | Issue #55
During the last two weeks, Bitcoin retested the previous support of the summer's distribution zone. Last week, the 9.65% drop confirmed this as a failed retest, and the price continues to bleed downwards gradually. Instead of dropping along with Bitcoin, the altcoin marketcap is continuing to hold steady around $80 billion...

3 coins to keep an eye on 👀