Monero (XMR)
$47.29 (-0.85 %) Просмотреть монету |
Ethereum (ETH)
$132.65 (-0.09 %) Просмотреть монету |
IOST (IOST)
$0.002970 (-0.58 %) Просмотреть монету
Newsletter
25 февраля 2019

3 coins to keep an eye on | Issue #27

Hello everyone!

Bitcoin concluded an otherwise cheerful week for the bulls with a saddening 11% plunge in a matter of hours.

The trend for the month is still bullish since a lower low has not yet been set. Still, this shows some weakness in the recent bullish activity.

The overall altcoin market cap has closely mirrored Bitcoin’s price action. The steady climb for the last two weeks was followed by significant losses at the end of the week, which dropped price under the most recent consolidation period.

It’s possible that this is the end of the short-term bullish overall market trend. However, as of today, it’s still too early to jump to any conclusions.

In the meanwhile, here are three top 100 coins with events occurring in the next two weeks on CoinMarketCal that may provide traders with entry opportunities during this retracement.

@tradeprophet


Monero (XMR)

Monero (XMR)

Price
$49.65 (-1.03 %)
฿0.01286511 (-1.69 %)

Market Cap
$835 044 667
฿216 356.36

Volume (24h)
$70 458 912
฿18 255.59

Trade
Binance

XMR has been ranging between rising support at a significant weekly level and consistent resistance since the beginning of 2019.

After an SFP near the beginning of February, the price has made a series of higher lows. These are gradually climbing into the daily resistance that has so far held the price down. This price action is forming a bullish ascending triangle.

Above the daily resistance lies a weekly resistance zone, which is likely to hold the price down should it break through the daily zone.

It seems likely that price will continue to create the ascending triangle with the upcoming hard fork encouraging bulls.

Traders looking to play the range can place bids along the bullish trendline and take profits along the daily resistance. If a breakout occurs, then the EQ of the weekly resistance zone provides another excellent target.


Ethereum (ETH)

Ethereum (ETH)

Price
$138.90 (-1.27 %)
฿0.03598897 (-1.91 %)

Market Cap
$14 585 333 605
฿3 778 995.03

Volume (24h)
$5 119 676 009
฿1 326 485.27

Trade
Binance

Over the month of February, ETH showed impressive gains of approximately 50%. However, it did not go untouched by the market’s dip yesterday.

A quick tap of the weekly level and a previous R1 was followed by a drop in price below the most recent consolidation block. This block is likely to provide some resistance if price climbs again.

However, below the current price is an overlap of the current and previous pivots, which creates a zone near the top of a bullish orderblock. If the price holds above this region, the bullish trend can be considered as remaining intact.

A range is likely to form here for at least some time - unless bears overtake the entire market again. However, it’s possible that the Constantinople hard fork this Wednesday and hype for the upcoming EthCC conference will provide a catalyst for a rally and continuation of the bullish trend.

Traders looking to profit from the probable range and upcoming event hype may wish to buy near the pivot and take profits near the confluence of the orderblock and R1, which are likely to form the top of the range.


IOST (IOST)

IOST (IOST)

Price
$0.007717 (9.01 %)
฿0.00000200 (7.35 %)

Market Cap
$92 710 512
฿24 020.88

Volume (24h)
$17 094 131
฿4 429.01

Trade
Binance

IOST’s dump from a significant weekly zone in reaction to yesterday’s market panic was supported exactly at the previous low marked by the confluence of the William’s fractal and bullish trendline.

A probable daily resistance marked by a bullish orderblock hovers just above the current price. If this resistance fails to hold, another probable resistance lies near 0.000002 at the most recent bearish orderblock.

Traders anticipating a continuation of the uptrend encouraged by the v1.0 mainnet launch today may wish to buy in the current region and aim for profits near 0.000002.

In a best-case scenario, the price may break through the local resistances and retest the weekly level that rejected it earlier this week.

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3 coins to keep an eye on 👀