BitTorrent (BTT)
$0.000301 (-2.31 %) View coin |
Kyber Network (KNC)
$0.992857 (-2.03 %) View coin |
Horizen (ZEN)
$5.62 (-3.04 %) View coin
Newsletter
24 February 2020

3 coins to keep an eye on | Issue #70

Hello everyone!

After a violent struggle through a nearly 11% range, Bitcoin's weekly candle from last week closed a mere 0.6% above where it started. A 6.4% drop from its open has bulls arguing for a spring setup, while bears may be hoping for a retest before a decline.

The altcoin marketcap enjoyed a small climb from its weekly start at $101 billion, up to $111 billion, before ending the week near $108 billion.

While the overall direction of the market hangs in limbo, here are three coins with events on CoinMarketCal in the upcoming week to keep an eye on.

@tradeprophet


BitTorrent (BTT)

BitTorrent (BTT)

Price
$0.000459 (-6.12 %)
฿0.00000005 (-2.86 %)

Market Cap
$97 441 769
฿10 166.99

Volume (24h)
$82 432 219
฿8 600.90

Exchange
Huobi

The bulls have been winning BTT's Q1, getting almost 77% gains since the low on January 8th. However, February's explosion in price is beginning to show some weakness.

The weekly EQ near 0.00000006 proved too strong for the bulls to crack, and this resistance sent the price plummeting down. As the price dropped, the weekly level in the upper 0.00000005's triggered hesitation from the bears.

However, this level wasn't strong enough to support the price as it plummeted through the overlap of several weekly orderblocks. The next probable area for bulls to make a stand is at the overlap of several weekly orderblocks near the lower 0.00000005's. 

The R1 at this level gave support once. If it provides support again - possibly encouraged by Wednesday's mainnet beta and Tuesday's live discussion - bulls could target the R2 and beyond.


Kyber Network (KNC)

Kyber Network (KNC)

Price
$0.570036 (0.09 %)
฿0.00005948 (2.74 %)

Market Cap
$102 173 079
฿10 660.65

Volume (24h)
$31 224 369
฿3 257.92

Exchange
Huobi

KNC gave bulls excellent 380% gains during the last eight months - with 88% from a surge during February.

But, for how much longer will this trend continue? The price has run into resistance at the monthly level around 0.00006893. Just above this level are a weekly orderblock, daily orderblock, and another monthly level, which will likely provide more resistance.

A sharp pullback to the trendline, daily orderblock, kijun, and last resistance around 0.00004807 could give bulls an entry to target the next assault on the monthly level. Next week's exposure at EthCC next week and Tuesday's exchange listing could help this level hold.

If the price breaks this trendline, another possible support is at the daily orderblock around 0.0000357, giving bulls a chance to profit on a trendline retest.


Horizen (ZEN)

Horizen (ZEN)

Price
$11.08 (-6.86 %)
฿0.00115597 (-3.52 %)

Market Cap
$94 086 717
฿9 816.92

Volume (24h)
$1 629 751
฿170.05

Exchange
Huobi

ZEN's 285% climb since October 2019 has been impressive, but its strength is becoming questionable. In December, volatility began to surge - although the bulls did continue to print higher highs and higher lows. 

For another higher high, bulls will need to break through the last resistance at R1 - giving them a shot up to the daily orderblock at 0.00148815. However, they'll need to make it through a resistance area around the monthly level and pivot near 0.0012810. 

The price is currently testing support at the monthly open near 0.0011882. If this level breaks, the next probable support is at the trendline and daily orderblock near 0.00108898.

Bulls have some fundamental reasons to stay hopeful, including Wednesday's upgrade, Tuesday's AMA, and a series of Weekly Insider reports over the upcoming Thursdays.

Newsletter
20 July 2020
3 coins to keep an eye on | Issue #87
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3 coins to keep an eye on 👀