Sun. Aug 7th, 2022

RavenCoin (RVN)

Ravencoin (RVC)

RavenCoin is one of those altcoins that you don’t understand why it does what it does. It is just one of the myriad many other platforms or network-based tokens, but RavenCoin experiences a significant number of big moves compared to its peers. From yesterday (December 3rd, 2019) to today, Raven coin has gained over +20%, and it appears it may be continuing that move. The daily chart above shows price move above both the Kijun-Sen and Tenkan-Sen, with the Chikou Span just below the candlesticks. I am waiting to add to my current long positions when the daily close is above the VPOC and the Cloud, as well as having the daily Chikou Span above the candlesticks and Cloud. I continue to observe this particular altcoin because it has very, very similar signs of shadow-like accumulation that you would see in a small or micro-cap stock on the US stock market. Monitoring the volume across the various exchanges is key to this analysis, and I may complete a full article over this particular altcoin at some point in the near future.

Buy entry @ $0.03245

 

Zcash (ZEC)

Zcash (ZEC)

Zcash has, in my opinion, been one of the biggest losers since Bitcoin reached its high in December 2017. Zcash has consistently outperformed its peers in its ability to create new all-time lows on a nearly monthly basis. It’s hard to believe that at one point, Zcash was trading around $1,000 a coin! From a short term perspective, though, Zcash looks like it may have a good entry coming up. The 4-hour chart above shows a strong bullish engulfing candlestick, with the current close above the Tenkan-Sen. As with RavenCoin’s chart above, I am going to wait until both price, and the Chikou Span is above the Cloud. The RSI and Composite Index are currently registering some positive moves with sharp slopes higher, so we may see this condition occur over the next two trading days. A short entry would happen with a break of the newest all-time low that was made as recently as November 24th, 2019. On the fundamental and bullish side of Zcash, Coindesk reported that the Zcash Foundation had funded an extremely decentralized messaging app, Cwtch.

Buy entry @ $29.25

Short entry @ $24.98

 

Ontology (ONT)

Ontology (ONT)

Ontology had been one of the better performing altcoins of 2019 but has since retraced the majority of its significant gains it saw. It had a massive 100% gain over 3 days back in late October but has since fallen back to those pre-pump levels. The daily chart above shows some near term bullish activity though. If the Chikou Span can move above the cloud at $0.72, that would put price above the daily Tenkan-Sen. We may also see enough momentum to put price above the Kijun-Sen as well. Closer to the $0.85 value area, we can see that the Cloud ahead is very thin. The goal would be to trade above the $0,84 value area before December 17th because that is when the Cloud gets demonstrably thicker. The near term resistance here is the daily Tenkan-Sen and VPOC at the $0.63 value area.

Buy entry @ $0.74

Short entry @ $0.5104

 

By Dov Herman

Dov is a Blockchain and Forex trading enthusiast, who spends most of his time trading and examining software who are related to cryptocurrencies and forex trading. You can follow on Dov’s reviews and articles here on TrustedBrokerz and across the web.