As many other altcoins, TRON has been creating series of lower highs and lower lows since May 2018. This series was interrupted in mid-August once the 8-month low was made. The low prompted the coin to make a bounce, although a shallow bounce. The price returned again to re-test the lows and it bounced again. However, the price is still trading below the...
Ethereum is bearish. The coin is in the free fall mode since May 2018 and it doesn't look like the end is near. Since then the price managed to breach all kind of supports - horizontal, trend lines, Fibonacci etc. There is only one support left before we may re-visit the all-time lows. And this is the biggest support since the fall has started. The zone between...
Since creating a short-term high in the first week of January, EOS has been retracing with a series of lower highs and lower lows. In August, this series was interrupted as the short term low was made. Since then, the price action has been trapped within a triangle, thus, creating a potential bearish pennant. This formation is a continuation pattern that marks a...
Litecoin is attempting to break the 7-month old trend line. After creating the series of lower highs and lower lows, the price created a hammer candlestick pattern. After the price pushed below the support trend line, it closed above the trend line. This pattern is a bullish reversal candlestick pattern, made up of just one candle, signaling the end of a...
The Ripple bounced off the horizontal support line in mid-August. However, the coin did not continue to test the key trend line, which added to the overall bearishness of the Ripple. Inability to test the trend line again means that new swing lows are probable. Currently, we are still wedging and space is getting tighter and tighter. In a few days, there will be...
As correctly analyzed, Monero broke above the trend line resistance and corrected higher. We wrote on Aug 27 that "...the 100 DMA is approaching the horizontal resistance and IF Monero gets eventually there, we may have a confluence of two huge resistance players - horizontal line and 100 DMA, around 0.01770". As a result, the coin did exactly the same, moreover,...
As analyzed in the early August, Stratis breached through the 0.000270 support and tested 161.8% Fibonacci extension support. The price eventually closed below the 161.8% extension but it bounced back and created a parallel channel with a series of higher lows and higher highs. After the coin failed to break above the channel resistance, it pushed lower through...
As per our analysis in the mid-August, Cardano has been moving towards the Fibonacci 127.2% extension support after breaching the key short-term horizontal support around 0.0000170. The coin also performed a perfect re-test formation - breaks the support, closes comfortably below and returns to re-test the support, now in the form of a resistance. This offered...
After creating a big bearish move from the recent highs, Vertcoin has spent last month in the consolidation zone. Meanwhile, the coin has developed a bearish pennant formation. Pennant pattern forms when the price rallies sharply, then moves sideways or slightly to the downside. If the consolidation of the price movement takes place in the form of the channel then...
Dash broke above the 4-month trend line resistance last week. After the breakout occurred, price action comfortably closed above the trend line resistance. In such occasions, the price either moves upside in almost a vertical manner (this happens in strong uptrends) or the price comes back to the crime scene and re-tests the broken resistance, now in the form of a...
After being trapped in the parallel channel for more than 8 months, TRON finally broke out of it. The move to the upside was not an impulsive one, but the price still trades comfortably outside of the channel. The consolidation took place and the price action has formed the descending triangle. The descending triangle is a bearish formation that usually forms...
Ethereum has now entered the 7th consecutive bearish month. A series of the lower highs and lower lows has continued as the price action fails to move and close above the down slipping trend line. A couple of weeks ago the coin also pushed through the 127.2% Fibonacci support zone, and it is now approaching the key 161.8% Fibonacci support zone. Moreover, in the...
#Litecoin has broken the 6-month resistance trend line and has come down now to re-test the trend line resistance line, now in the form of the support. After the fifth test of the trend line, the price action pushed and closed comfortably above the trend line. A re-test will either result in an impulsive move higher as the new bulls ride the new trend or will come...
NANO is one of the rare altcoins that is currently in the process of creating a bullish structure. The coin broke the 6-month trend line resistance two weeks ago and the follow up was impressive. It pushed higher without coming back to re-test the trend line, which signals that uptrend is strong. Still, there is a room for the coin to come back and re-test the...
DigiByte is currently rebounding after breaking the triangle for the second part. The first break resulted in the price returning to inside part of the triangle, testing the upper resistance line, ultimately failing and returning to the downside, but now with a more substantial break. As the price has consolidated below the triangle now, the opportunity may be...
If you read and followed our suggestion from the August 13 in regards to potential bounce in Ripple, you made some good money. We stated that "Those who are looking for a bounce, place your stops against the 161.8% extension zone. The first potential profit-taking zone can be 0.000560". The result? The coin went briefly below the 161.8% extension support, created...
NEO is finding itself in a similar situation to other coins as it is currently testing key resistance trend line. Given the importance of this trend line i.e. 5 touches on the daily chart in the time window of 8 months, the trend line can be regarded as the bull/bear line that will determine the direction of the price action in the next weeks/months. Another...
After creating a series of the lower lows, #XMRBTC has found a support in the familiar place - a major supporting trend line. For the fourth time in a year and a half, the coin bounced off of a supporting trend line. Currently, the coin is pushing higher and trying to clear the next resistance, a minor down slipping trend line connecting swing highs during the...