Ampleforth (AMPL)
$0.738008 (-0.11 %) View coin |
UMA (UMA)
$10.28 (0.83 %) View coin |
NEM (XEM)
$0.116726 (7.28 %) View coin
Newsletter
07 September 2020

3 coins to keep an eye on | Issue #94

Hello everyone!

It's been a rough week for the bulls as Bitcoin plummeted over 18% through critical support near $11,100. Bears call for targets down to 7k while bulls call for targets at 12k. Still, traditional markets are likely to determine the outcome.

Meanwhile, the altcoin marketcap suffered a 23 billion loss from $155 billion to $132 billion before recovering to end the week near $141 billion.

While we wait to see what the upcoming week brings, here are three coins with events on CoinMarketCal during the upcoming week to keep an eye on.

@tradeprophet


Ampleforth (AMPL)

Ampleforth (AMPL)

Price
$0.689284 (1.39 %)
฿0.00006872 (3.27 %)

Market Cap
$142 935 779
฿14 250.85

Volume (24h)
$20 369 797
฿2 030.89

Exchange
Huobi

After AMPL rocketed 400% during June and July, a full retrace launched another 300% pump - and another full retrace - during the last week of August and the beginning of September.

The price is currently in the accumulation range between the weekly levels at 0.60 and 0.74. Daily highs and long stops rest at 0.91, just below probable resistance at the 2020 yearly open at 1.006.

Bears expecting more selling pressure from buyers trapped near the top could target the weekly lows at 0.53, with entries near the current range's high or after a pump to the yearly level.

Bulls expecting hype around the Beehive V2 launch could enter near support at 0.60 with targets at the top of the range, the 2020 yearly open, and beyond to the Q2 2020 open.


UMA (UMA)

UMA (UMA)

Price
$15.09 (5.85 %)
฿0.00150494 (7.28 %)

Market Cap
$826 126 450
฿82 365.68

Volume (24h)
$15 585 451
฿1 553.89

Exchange
Huobi

The last week of August brought a surge of interest in UMA, pushing the price up past the monthly level around 23.28.

Then, September saw a retracement of price to the area between the .786 and .618 Fibonacci retracements. This area is often an excellent zone to hunt entries before another potential bullish move. 

The price has already begun climbing, with the monthly level at 15.73 recently turning to support as bulls climb toward a previous weekly high at 17.6. 

Bulls anticipating growth from today's Kucoin listing could target the recent daily high near 19.84 with entries on low timeframes in the current area.

Bears could enter shorts at the weekly level at 17.6 or on a loss of support at the 15.73 monthly level while targeting the previous weekly lows near 9.99.


NEM (XEM)

NEM (XEM)

Price
$0.121827 (-1.10 %)
฿0.00001215 (1.03 %)

Market Cap
$1 096 445 109
฿109 316.73

Volume (24h)
$104 560 947
฿10 424.84

Exchange
Huobi

Along with this week's other picks, XEM also pushed up over 317% during July and August before retracing to the Q4 2018 open. 

This quarterly open also marks the approximate EQ of the last move up. So far, this area has held as support, pushing the price up toward resistance at the monthly level near 0.14 with moderate bullish volume.

Bulls might long a reclaim of this level while targeting the previous weekly highs near 0.17 and beyond, fueled by encouragement from Monday’s progress milestone.

Bears could short weakness at the current resistance near 0.14 or rejection of the weekly highs near 0.17. Conservative targets range from the weekly low at 0.10 to as low as the 2019 yearly open at 0.063.

With the markets running hot, crypto exchange listings have seemingly become a catalyst for price movements. It’s almost 2017 all over again. The trend is readily apparent when looking at Coinbase’s most recent additions. Nearly every new listing has seen a substantial boost in price on the day Coi...
Newsletter
17 August 2020
3 coins to keep an eye on | Issue #91
Bitcoin continued sweeping higher, passing through an 8.45% range from the lows near $11,200 up to the weekly close at $11,914. This 2% higher weekly close led to an explosive bullish move today as bulls broke critical resistance at early August's highs near $12,120. Will the BTC breakout hold for the next leg up, temporar...
News
13 August 2020
The Current State of YAM
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3 coins to keep an eye on 👀