Ethereum (ETH)
Ethereum (ETH)
$1 310.71 (-1.17 %) Ver moneda |
Monero (XMR)
Monero (XMR)
$141.68 (-4.58 %) Ver moneda |
World Mobile Token (WMT)
World Mobile Token (WMT)
$0.195181 (-0.01 %) Ver moneda
Boletin de Noticias
08 ago. 2022

3 coins to keep an eye on | Issue #193

Hello everyone!

Last week, Bitcoin covered a 5.3% range before closing the week near $23,200 - about 0.4% lower than the week's opening price.

The altcoin marketcap closed slightly higher, unlike Bitcoin. Last week, it rose from $646 billion to $654 billion. 

Keep an eye on these three coins with upcoming events as Bitcoin tests late July's price action as possible support.

Follow on Twitter: @tradeprophet


Ethereum (ETH)

Ethereum (ETH)

Price
$1 807.21 (5.61 %)
฿0.07487735 (1.35 %)

Market Cap
$216 825 196 151
฿8 983 952.40

Volume (24h)
$13 043 955 426
฿540 445.64

Supply
120 012 288 (Max)
120 014 045 (Available)

ETH is retracing its April to June decline. So far, it's retraced approximately 25% of the drop in anticipation of September's Merge.

A broad area of inefficient trading on the monthly chart, from $1,972.58 to $2,709.26, is likely to provide resistance. 

The upper half of this zone, beginning near $2,145.29, may provide stronger resistance. Here, inefficient trading on the weekly chart, old swing lows, and the 50% retracement of H2 2022's drop converge.

Closer to the current price, $1,784.79 to $1,859.84 may provide the next speedbump for bulls. This level is near the low of previous inefficient trading on the weekly chart in March 2021. It's also just above more recent inefficient trading on the weekly and a recent daily swing high. 

The outcome of Thursday's Goerli Merge, the last testnet before ETH's mainnet merge, could determine whether this level holds as resistance or turns to support.

A pocket of inefficient trading on the daily chart, from $1,685.26 to $1,662.79, may provide the closest support. Here, the 9 EMA and the midpoint of late July and early August's bearish move converge. If the price continues to rally in the earlier part of this week, this level may move higher by the middle of the week.

If this possible support fails, the next support might be near the 40 EMA, from $1,570.48 to $1,493.11. Old swing lows, previous inefficient trading on the weekly chart, and inefficient trading on the daily chart add confluence to this level.

A steeper drop may be aiming for stops under the daily swing low near $1,356.17. From $1,336.07 to $1,197.79, bulls might find support inside accumulation preceding inefficient trading on the weekly chart.

If the price drops below this level, it may be aiming for stops under June's low. If so, bears may be targeting an area from $881.56 to $758.74. This zone marks the low end of inefficient trading on the monthly and weekly charts.


Monero (XMR)

Monero (XMR)

Price
$167.72 (-0.78 %)
฿0.00693304 (-4.99 %)

Market Cap
$3 038 845 033
฿126 192.95

Volume (24h)
$127 553 305
฿5 272.74

Supply
N/A
18 147 820 (Available)

XMR is rallying to fill in pockets of inefficient trading left during its June decline.

The closest resistance is at $167.80. This area of inefficient trading on the weekly and daily charts is near the 61.8% retracement of June's move. It rejected the price on Sunday, but the price is rechallenging it.

If it breaks, the next pocket of inefficient trading from $178.60 to $182.10 may be the next target. This zone is also near the high of inefficient trading on the weekly and the 78.6% retracement of June's move.

It's reasonable to expect the price to reach this zone by Saturday's Network Upgrade. Traders selling the news might help this level to hold as resistance and prompt a more significant retracement.

In the longer term, bulls could be targeting bears' stops above the significant weekly swing high near $204.50. This zone also shows inefficient trading on the monthly chart. If this resistance breaks, the next bullish target may be another area of inefficient trading on the weekly chart from $233.50 to $229.80.

The closest support might be near the current price, from $166.40 to $162.03. This area is at the end of July's accumulation high.

If this level breaks, a drop under the August monthly open might find more buyers near $152.30. This area shows accumulation, would run bulls' stops under recent swing lows, and fill in a tiny pocket of inefficient trading. It also has confluence with the high of previous inefficient trading on the weekly chart.

A steeper drop might reach inefficient trading on the weekly chart, from $135.70 to $133.80. This zone is also near the bottom of previous inefficient trading from June and lines up with old swing lows from Q1 2022.


World Mobile Token (WMT)

World Mobile Token (WMT)

Price
$0.225854 (4.40 %)
฿0.00000936 (-0.07 %)

Market Cap
$61 695 640
฿2 556.27

Volume (24h)
$600 304
฿647.85

Supply
2 000 000 000 (Max)
273 166 304 (Available)

WMT has been consolidating since its 81% drop from March until mid-May. 

Currently, it is challenging resistance near a zone of inefficient trading on the daily chart from $0.2448 to $0.2389. This zone is near the July monthly open. After Tuesday's snapshot, traders might sell their tokens and help this level to hold as resistance.

The price may be reaching for swing highs near $0.2724. Above these highs, several pockets of inefficient trading on the daily chart could continue drawing the price upward between roughly $0.2724 and $0.3186. Bulls might remain cautious about entering longer trades until they reclaim the high of this zone.

On a reclaim of this zone, bulls might aim for the swing high near $0.3548. This level, up to $0.3956, shows inefficient trading on the monthly and weekly charts that the price may want to fill.

The 9, 18, and 40 EMAs converge near $0.2238. This area may also show inefficient trading on the daily chart after Monday's close and could provide the closest support for a rally.

Slightly lower, an area from $0.2106 to $0.2060 might also provide support. It's near the current swing's initial accumulation on the daily chart and the high of accumulation on the weekly chart.

If this level breaks, it could signal a more significant drop. No historical price action exists under July 13th's low, which may be the first target. Beyond this low, recent price swings' 50% extensions align near $0.1250 and may provide the next downside targets.

No other news.
No hay evento próximo.

3 coins to keep an eye on 👀

Subscribe to receive a weekly selection of 3 coins to watch closely, based on upcoming events and technical analysis.