Ethereum Classic (ETC)
$7.54 (-2.50 %) ‘ビューコイン' |
Blockstack (STX)
$0.483164 (-3.59 %) ‘ビューコイン' |
Stellar (XLM)
$0.274021 (-7.00 %) ‘ビューコイン'
Newsletter
23 11月 2020

3 coins to keep an eye on | Issue #105

Hello everyone!

Bitcoin covered a nearly 20% range this week, closing the weekly candle near $18,437 - decisively over resistance near $17,178

As the price hovers less than 5% below the all-time high, speculation runs rampant on whether this is the top before a massive retrace or a final trap for bears before a giant bullish weekly candle.

The altcoin market saw an enormous gain this week, rocketing from approximately $159 billion to $197 billion. This climb is likely the result of Bitcoin profit-takers transferring their capital in anticipation of a post-bullrun altseason similar to 2017.

While we wait to see if Bitcoin breaks its all-time high this week, here are three altcoins with events on CoinMarketCal during the next two weeks to keep an eye on.

@tradeprophet


Ethereum Classic (ETC)

Ethereum Classic (ETC)

Price
$6.40 (3.09 %)
฿0.00034378 (-0.10 %)

Market Cap
$744 237 705
฿39 802.05

Volume (24h)
$774 860 341
฿41 609.09

Exchange
Crypto.com

ETC's brief accumulation below the November open exploded upward during the last several weeks before tapping resistance around the weekly level at $6.8793.

Aggressive bulls have found some support near $6.0439, although it remains to be seen whether this level will hold longer-term. The previous swing highs near $5.73 provide a safer entry. However, Sunday's wick into this support may have been the last stop before challenging the next resistance.

A small gap between the daily candles near $5.2195 provides the safest entry for more cautious bulls. However, the price may not visit it for some time if the altcoin market's euphoria continues.

Confirmed resistance near $6.90 provides a reasonable first target. The daily sweep candle near $7.2702 is likely the next stop if the current resistance flips to support.


Blockstack (STX)

Blockstack (STX)

Price
$0.219927 (5.23 %)
฿0.00001181 (1.97 %)

Market Cap
$203 247 975
฿10 870.46

Volume (24h)
$1 241 447
฿66.66

Exchange
Crypto.com

STX rocketed upward by over 106% since the beginning of November after an accumulation phase reminiscent of ETC's current chart. 

Bulls broke multiple significant swing highs in this move but could not close the daily candle above resistance near $0.2752. However, this was enough to create a bullish cross in multiple EMAs, which is likely to draw attention from traders and investors.

Since then, the price has retraced to search for support near the move's base. The first probable support is at $0.1988. A possible stop run below last week's re-accumulation is likely to provide an excellent entry before continuation. If this support breaks, bulls will likely find more substantial support near the November open at $0.1609.

The current resistance near the weekly level at $0.2774 gives a confirmed first target. A break of this level is likely to continue to the highs near $0.31 and $0.3199.


Stellar (XLM)

Stellar (XLM)

Price
$0.108109 (3.41 %)
฿0.00000578 (0.21 %)

Market Cap
$2 272 683 842
฿121 477.32

Volume (24h)
$521 367 162
฿27 867.62

Exchange
Crypto.com

Often correlated with XRP's price movements, it's no surprise that XLM exploded 41% upward in the last few days as XRP pumped.

However, this sudden move created a gap on the daily chart beginning at $0.09619. The price typically fills in these gaps - making it an ideal place for bulls to reload their longs.

Support near $0.08701, just below the daily gap, has confluence with the 70.5% "sweet spot" retracement. This region might provide bulls with an excellent entry before further continuation. If this level fails to hold, the next strong support is near the November open at $0.0777.

In the shorter term, an old level near $0.10555 could provide just enough support for aggressive bulls to collect sell orders before re-challenging the resistance near $0.11383, with the swing high at $0.11948 a likely target. The next target above this level is the probable resistance beginning at $0.12315.

No other news.
‘今後の予定はありません。'

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