Cosmos (ATOM)
$5.50 (3.61 %) View coin |
REN (REN)
$0.319874 (4.68 %) View coin |
Zilliqa (ZIL)
$0.027052 (10.44 %) View coin
Newsletter
05 October 2020

3 coins to keep an eye on | Issue #98

Hello everyone!

Bitcoin's price continues to compress with the week closing near $10,770, a moderate 1.29% drop from it's open. Marketwide uncertainty and a barrage of news with conflicting outcomes left many traders on the sidelines.

The altcoin marketcap ended the week in a neutral state near $141 billion after ranging between $147 billion and $136 billion.

As we wait for Bitcoin to make its move, here are three coins with events listed on CoinMarketCal to keep an eye on.

@tradeprophet


Cosmos (ATOM)

Cosmos (ATOM)

Price
$5.29 (0.63 %)
฿0.00049257 (-0.47 %)

Market Cap
$1 078 942 555
฿100 467.62

Volume (24h)
$286 153 418
฿26 645.67

Exchange
Crypto.com

After a meteoric 245% rise in July alone, ATOM has almost fully retraced and could form a reversal.

The bullish trendline, consolidation area, and 62% fib retracement converge near a former price inefficiency near $4.256. This level provided support - and also provided the base to what many traders may view as a potential inverse head and shoulders pattern reversal.

Bulls might take positions in the current area or on a pullback toward the previous week's low. Targets include a previous week's high and probable resistance levels up to $6.978.

Bears could enter near the bearish trendline and a previous week's high near $5.596. Targets range from the previous weekly low down to price inefficiency near $4.304.


REN (REN)

REN (REN)

Price
$0.265252 (-4.32 %)
฿0.00002470 (-4.92 %)

Market Cap
$234 855 718
฿21 869.00

Volume (24h)
$57 091 835
฿5 316.21

Exchange
Crypto.com

REN's chart tells a similar story to ATOM as late-summer bears claw back the bulls' gains.

However, the bulls found enough strength near the previous yearly high at $0.1549 to create a reversal. A retracement from resistance near $0.2833 could give both bulls and bears an entry.

Probable support near $0.2451 could offer bulls an entry this week. Targets include the previous weekly highs near $0.3206 and potentially beyond to the highs at $0.36.

Bears planning to sell Tuesday's news could enter at the current region while targeting the previous weekly lows at $0.1976 and swing lows at $0.1590.


Zilliqa (ZIL)

Zilliqa (ZIL)

Price
$0.020752 (6.51 %)
฿0.00000193 (4.83 %)

Market Cap
$217 532 348
฿20 255.90

Volume (24h)
$86 750 236
฿8 077.90

Exchange
Crypto.com

ZIL spent the summer consolidating in a massive 100% range and is now swinging toward the range's upper boundary.

After dipping below the lows at near $0.0146, the price began stair-stepping upwards. Bulls found support near $0.0167 and $0.0184 before crossing the previous year's opening level.

Incoming bulls could enter near $.0192, where structures from the yearly open and September's price structures mark probable support. Targets range from the previous swing high near $0.0246 to last year's highs at $0.0278.

Bears could enter on weakness near previous weekly and monthly highs around $0.0235. Probable targets include monthly and weekly lows near $0.0128 and $0.0148.

No other news.
No upcoming event.

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