Cardano (ADA)
$0.082364 (1.63 %) View coin |
Cosmos (ATOM)
$4.21 (1.64 %) View coin |
Augur (REP)
$13.44 (-1.19 %) View coin
Newsletter
27 July 2020

3 coins to keep an eye on | Issue #88

Hello everyone!

The past week brought some signs of life to Bitcoin. The price climbed over 11% from its lows to its highs before closing almost 8% higher than the week before.

Meanwhile, the altcoin marketcap surged almost 15% alongside Bitcoin from $103 billion to $118 billion by the weekend.

While we wait to see if this week brings more sideways action in Bitcoin around $10k, here are three coins with events this week on CoinMarketCal to keep an eye on.

@tradeprophet


Cardano (ADA)

Cardano (ADA)

Price
$0.141663 (-5.46 %)
฿0.00001383 (-10.28 %)

Market Cap
$3 672 907 693
฿358 450.80

Volume (24h)
$738 741 920
฿72 096.19

Exchange
Huobi

After bouncing from the supports highlighted in June 8th's newsletter, ADA has gone on to climb another nearly 128% - but will this be the top?

The price halted abruptly in early July as it encountered previous support from April 2019's bull run. A wick above this level, which marks the range highs, led to a close inside the range. This price action often hints at a move toward the range lows.

Bulls could look for entries on a sweep of the equal lows at 0.00001259 or the range low at 0.00001202. If the price then closes within the range, this could give an excellent entry to target the April 2019's highs at 0.00001944.

Bears planning to short the euphoria of the Shelley Hard Fork could look for entries near the range highs, and target from the range EQ to as far as the orderblock around the yearly level at 0.00001095.


Cosmos (ATOM)

Cosmos (ATOM)

Price
$3.69 (-4.77 %)
฿0.00036049 (-9.65 %)

Market Cap
$704 363 453
฿68 741.08

Volume (24h)
$124 826 035
฿12 182.17

Exchange
Huobi

The first half of July saw incredibly bullish price action in ATOM, with bulls printing a steady stream of upwards daily candles reaching over 90%.

The monthly level and pivotal structure from January's highs provided enough resistance for bears to step in and force a 50% retracement during the last few weeks.

Bulls looking for a chance to enter and target the last highs have multiple levels in this area from which to choose, with the monthly level and previous resistances at 0.0003172 and 0.0003707 potentially being more significant.

Bears expecting traders to continue selling the news could look for an entry after a test confirming that the monthly level at 0.0004036 flipped from support to resistance.


Augur (REP)

Augur (REP)

Price
$22.45 (-1.73 %)
฿0.00219141 (-6.93 %)

Market Cap
$246 999 472
฿24 105.47

Volume (24h)
$28 912 095
฿2 821.62

Exchange
Huobi

Last August's REP buyers have seen a volatile year as the price gradually chopped upward by nearly 260%. Is more potential upside in sight now that the bulls broke a key resistance?

Two monthly from 0.002263 to 0.002029 contained a lengthy consolidation during late 2018 before 2019's bull run. This week, the price is testing this significant region for support after an aggressive breakthrough from below.

Bulls could look for support - perhaps fueled by the Augur V2 release - near the monthly level at bullish trendline at 0.002029. Potential targets are at the monthly level at 0.002263, previous highs at 0.002745, and beyond to probable resistance at the supply trendline.

Bears fading the excitement could wait for the monthly level at 0.002263 to turn to resistance while targeting probable support at 0.001661.

Cardano completed its long-awaited Shelley hard fork today, transitioning its blockchain from a federated network managed primarily by the Cardano Foundation to a community-run protocol. The new Shelley mainnet introduces Cardano’s proposed Proof-of-Stake (PoS) layer, which allows users to contribut...
Augur, a decentralized prediction market and one of the first ICOs and projects built on Ethereum, launched its v2 protocol today. It will operate in parallel to Augur v1 and will require token holders to manually migrate their REP tokens. The upgrade includes modifications to improve the user exper...
At a panel held at the Unitize blockchain conference, representatives from the Cosmos, Polkadot, and Terra networks unveiled Anchor, a new DeFi savings product built on Terra that offers yield on stablecoin (Terra) deposits powered by staking rewards from PoS blockchains. The protocol will take thos...

3 coins to keep an eye on 👀