3 coins to keep an eye on | Issue #104

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.

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.

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.