Cosmos (ATOM)
$2.78 (2.03 %) View coin |
IOST (IOST)
$0.005594 (1.27 %) View coin |
Augur (REP)
$18.47 (0.66 %) View coin
Newsletter
13 January 2020

3 coins to keep an eye on | Issue #64

Hello everyone!

Last week’s 11.42% rise, with a high over 15%, in Bitcoin’s price has flooded the crypto market’s news with bullish headlines. 

The ascending triangle forming along with decreasing volume under resistance at the pivot around $8,465 could be hinting at further bullish continuation - possibly up to $9,000. However, contrarian bears can point at the bullish headlines as a reason for bulls to take caution, along with the target completion of the inverse head-and-shoulders.

Meanwhile, the altcoin marketcap has also enjoyed a modest climb along with Bitcoin from $66 billion to $69 billion.

While we wait for Bitcoin to prove its bullish continuation or drop back down to $7,500, here are three coins with events listed on CoinMarketCal during the upcoming week to keep an eye on.

@tradeprophet


Cosmos (ATOM)

Cosmos (ATOM)

Price
$4.16 (-2.40 %)
฿0.00051467 (-1.26 %)

Market Cap
$793 617 530
฿98 142.40

Volume (24h)
$109 065 255
฿13 487.51

Exchange
Binance

ATOM bulls have decisively held the upper hand since September, giving holders a 268% return by the middle of December. However, the bears on the brink of getting the upper hand.

After several weeks of distribution, the price has pulled back to the confluence of the bullish trendline, S1 support, and daily orderblock around 0.0004837. While the price has so far closed above the trendline, the bearish RSI and second retest of the trendline during the last few days suggest that the trend may be flipping in favor of the bears.

Bulls could point at the Coinbase Pro listing today as a reason for the support to hold and for the perfect opportunity to join before bullish continuation. 

On the other hand, bears might have an opportunity to sell the news for an early retracement entry. A reasonable target is at the probable support at the weekly orderblock, daily orderblock, and S2 near 0.0003884.


IOST (IOST)

IOST (IOST)

Price
$0.005155 (-3.47 %)
฿0.00000064 (-2.23 %)

Market Cap
$61 932 784
฿7 658.89

Volume (24h)
$24 322 583
฿3 007.84

Exchange
Binance

After two months of furiously chopping around an approximately 25% range, IOST may also be poised for a dip.

Last Wednesday’s low on the S1 support at 0.00000057 may have created a bullish trendline, but bulls haven’t proven its strength yet. Bears can point to the RSI’s hidden bearish divergence - created by the high into resistance at the top of the weekly orderblock and the daily orderblock around 0.00000066 - as evidence that the bulls are losing strength.

If the S1 support fails, bears might target the confluence of the weekly orderblock, daily orderblock, and S2 support around 0.00000051 as a likely target. 

On the other hand, positive news from Wednesday's AMA might have bulls eyeing the current region as a prime entry to target the pivot around 0.00000072 or the Ichimoku cloud twist around 0.00000075.


Augur (REP)

Augur (REP)

Price
$9.73 (-0.37 %)
฿0.00120356 (0.57 %)

Market Cap
$107 056 894
฿13 239.15

Volume (24h)
$9 122 189
฿1 128.09

Exchange
Binance

REP holders enjoyed a nearly 94% climb during November, but holders are likely considering jumping ship after the downtrend during the last couple of months.

A steady bleed dropped the price down to the S1 support at 0.001118, and there are few indications that the bears have any plans of giving up soon. Support near the previous resistance that bulls broke in November could turn to support, thanks to the S2 support and overlap of the weekly and daily orderblocks around 0.000998. 

Bulls clinging to hope might try to play a swing from the S1 support up to the daily orderblock overhead near 0.001316. Meanwhile, bears confident with selling the news of the latest Augur app release have some room for profit down to the S2 support, and possibly lower.

Predictions market platform Augur has announced its new and improved platform will launch July 28th. The upgrade brings about a number of changes such as DAI denominated markets, "Invalid" as a tradeable outcome, and a REP price auction. Token holders will need to manually migrate their REPv1 to REP...
Yesterday the Cosmos team and professional validator Figment Networks shared details on Stargate, the next major Cosmos network upgrade. Stargate will introduce the most extensive set of Cosmos changes to date, including new interoperability features and various performance improvements. The headli...
Coinbase’s custody arm has announced clients can now stake their Cosmos (ATOM) tokens through the custodian. The move allows these investors to lock their tokens on the network and collect inflation rewards on their otherwise idle holdings. Coinbase Custody also noted that its Cosmos staking service...

3 coins to keep an eye on 👀