Algorand (ALGO)
$0.522870 (-7.44 %) ‘ビューコイン' |
Ampleforth (AMPL)
$1.16 (3.96 %) ‘ビューコイン' |
Golem (GLM)
$0.129352 (3.31 %) ‘ビューコイン'
Newsletter
16 11月 2020

3 coins to keep an eye on | Issue #104

Hello everyone!

Bitcoin closed last week's candle just under the $16,000 resistance, 3.13% higher than its weekly open. Aggressive bears continue to hunt short opportunities as bulls suspect re-accumulation.

The altcoin marketcap climbed alongside Bitcoin from $153 billion to $164 billion, then ended the week near the weekly range's midpoint near $159 billion.

Despite fear from altcoin volatility during sudden Bitcoin bursts, profits may begin to flow into altcoins during the upcoming weeks, especially if the cycle mimics the Q4 2017 bullrun. 

This volatility could give traders and investors excellent entries for a potential altseason. Here are three coins to keep an eye on with events listed on CoinMarketCal during the next two weeks.

@tradeprophet


Algorand (ALGO)

Algorand (ALGO)

Price
$0.263750 (-1.72 %)
฿0.00001618 (-3.61 %)

Market Cap
$210 871 036
฿12 957.50

Volume (24h)
$85 007 730
฿5 213.77

Exchange
Crypto.com

Since it's mid-August high, ALGO has retraced just over 70% from its highs, potentially shaking even the strongest of top-buyers from their positions into the hands of accumulating whales.

Since September, the price has consolidated in a range. The end of October brought a sudden dip under the low at $0.263, accumulating sellers' positions in weekly support starting at $0.232.

The price has reclaimed the broken low, crossing over the November open before meeting resistance near the last movement's midpoint. This move could signal that early November was accumulation before a more extensive move upward.

Shorter-term, bulls could look for entries near the November monthly open at $0.2486 while targeting recent highs near $0.2976 and $0.3254. 

If the bulls can sustain this trend, a third target rests at the equal highs and resistance near $0.376.


Ampleforth (AMPL)

Ampleforth (AMPL)

Price
$1.01 (-6.20 %)
฿0.00006167 (-7.97 %)

Market Cap
$170 108 504
฿10 452.74

Volume (24h)
$2 603 444
฿159.66

Exchange
Crypto.com

AMPL has been ranging since October but might be setting up for a short-term bullish move.

Today (November 16th), the price swept stops under the November monthly open at $1.024 before quickly reclaiming this level. This sweep could show that larger players are preparing to push the price upward.

This level's confluence with the 70.5% retracement level, which is often an excellent area to look for continuation entries, supports the bullish argument for accumulation. Another sweep of the November open into probable support near $0.9534 could give an excellent entry.

Shorter-term traders could take early profits near possible resistance near $1.0864 and $1.2721. If bulls pierce these levels, the relatively equal highs near $1.3651 are the next probable target.


Golem (GLM)

Golem (GLM)

Price
$0.103293 (1.38 %)
฿0.00000633 (-0.53 %)

Market Cap
$102 180 515
฿6 267.03

Volume (24h)
$7 942 980
฿487.13

Exchange
Crypto.com

After lazily consolidating through the end of September, GNT's volatility suddenly spiked as the low at $0.0795 was purged in early November before an 87% surge upward.

Since then, the price has retraced to under the Q4 open - possibly creating a similar accumulation setup to this month's purge-to-surge under the November monthly open.

Bulls could enter in the current region or on a stop run - perhaps triggered by Thursday's migration - into probable support near $0.0954. Less aggressive traders could look for a flip of the Q4 open into support before hunting lower-timeframe entries.

The resistance starting near $0.1255 provides a first target. A break of this level is likely to proceed to the swing high at $0.145. Longer-term, the August swing high near $0.175 provides another bull-trend target.

No other news.
‘今後の予定はありません。'

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