Chainlink (LINK)
$8.07 (11.93 %) View coin |
Neo (NEO)
$11.21 (6.39 %) View coin |
Siacoin (SC)
$0.003384 (1.23 %) View coin
Newsletter
02 March 2020

3 coins to keep an eye on | Issue #71

Hello everyone!

The move we've been waiting for finally happened last week, as BTC plunged to close 14.48% below its open. The trendline through the consolidation zone around $8475 provided a temporary bottom, but will it hold?

The altcoin marketcap crashed alongside BTC, losing 18% from $106 to $87 billion during the week.

While we wait to see if BTC consolidates sideways or makes another sudden move, here are three altcoins to keep an eye on with events on CoinMarketCal this week.

@tradeprophet


Chainlink (LINK)

Chainlink (LINK)

Price
$4.18 (2.66 %)
฿0.00047340 (0.26 %)

Market Cap
$1 463 213 391
฿165 690.01

Volume (24h)
$456 222 783
฿51 661.34

Exchange
BinanceHuobi

LINK set records earlier this month as it smashed through the previous 2019 highs. Bulls anxious to join this price discovery may have an entry coming soon.

After settings its first new high, the price dropped to the R2 resistance, confirming it as support. This test launched another aggressive surge giving bulls a nearly 38% return.

The current retracement is approaching a daily orderblock around the tenkan and .618 Fibonacci retracement. This level is also the approximate area of this last high, which could turn to support - especially if this Tuesday's Crypto.com listing provides some bullish momentum.

If this region fails to hold, another entry might be at the monthly level around 0.00040181. This area also has the monthly and weekly R1, another daily OB, kijun, and bullish trendline, all of which are likely to provide support.


Neo (NEO)

Neo (NEO)

Price
$11.75 (1.73 %)
฿0.00133097 (-0.58 %)

Market Cap
$829 104 197
฿93 885.34

Volume (24h)
$829 382 329
฿93 916.83

Exchange
Binance, Huobi

February gave NEO a nearly 40% pump to the monthly and weekly pivot, followed by a somber retracement of the entire climb. This decline might provide bulls with a chance to enter.

The monthly level and daily orderblock around 0.00122073 stopped the drop before it could set a new low. Currently, the daily pivot and a daily orderblock with a lower boundary at 0.001327 are forming resistance. 

However, the monthly open appears to be providing some support, and the price is closing above the Ichimoku cloud. This level also created a bullish trendline, which could offer more support.

If the price does reclaim this level, probable resistance lies above at the overlap of two daily orderblocks around 0.00143698. Thursday's Neo Live could provide some catalyst for the bulls to either break the resistance or hold the new support.


Siacoin (SC)

Siacoin (SC)

Price
$0.002271 (0.35 %)
฿0.00000026 (-1.97 %)

Market Cap
$94 968 240
฿10 741.34

Volume (24h)
$1 659 368
฿187.68

Exchange
BinanceHuobi

February's pump gave SC bulls a stunning 143% return, but this surge has cooled off - giving bears a shot to profit and bulls a chance to enter.

While not dropping as fast as NEO, SC's price looks ready to plunge further as it tests the current support at the monthly level. The Ichimoku cloud created a bearish TK cross last Saturday, adding more weight to the bears' case.

If the monthly level breaks, probable support is at the daily orderblock and monthly level around 0.00000022. If this level also breaks, the price may find support at the weekly orderblock's top at 0.00000019, where the bullish move began.

Bulls entering in any of these areas could target the resistance at the monthly pivot at 0.00000036, or the top of the weekly orderblock at 0.00000030. Tuesday's brainstorming session could lead to news or a rumor that gives price some momentum in either direction.

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3 coins to keep an eye on 👀