0x (ZRX)0x (ZRX) buy signal @ $0.27
0x was one of the best performing cryptocurrencies of 2019 until it got smacked down lower in June 2019. It then proceeded to give back all of the gains it made from the 2018 lows and then continued to make new all-time lows until August 2019. Some bullish signs 0x will, perhaps, take on another bullish phase and lead some of its peers. One signal that buyers will find positive is 0x’s continued testing of the current dominant downtrend angle. Currently, 0x is in a pullback after experiencing a nice +36% gain – until getting halted against the dominant downtrend angle. However, this pullback could be just the catalyst we need to see a new and powerful bull move occur on 0x’s chart. If 0x can rally higher to the 0.26 value area, then a buy signal would generate at a break of the double top at 0.26.
Buy Signal @ $0.27
Zcash (ZEC)Zcash (ZEC) Buy Signal @ $56
We’ve looked at Zcash’s performance several times over the past few weeks. Its price action has been extremely bullish with buyers in clear control since the beginning of 2020. We’ve seen Zcash more than double from its prior low of 26. And buyers continue to get in on the dips in the market and help maintain Zcash at these higher valuations. Shockingly, Zcash is now trading at the same value as Litecoin (LTC)!. Currently, Zcash is experiencing the same condition as the broader cryptocurrency market: consolidation. No market can move up forever, so pauses are expected and normal. But from the look of Zcash’s current Point & Figure chart, the pause may not last for very long. There is a symmetrical triangle on the chart, which creates very interesting trading possibilities. If Zcash moves higher and forms a double top at 55, then we have a clear buy signal just above that double top.
Buy Signal @ $56
Komodo (KMD)Komodo (KMD) buy signal @ $0.69
During the last three to four months of 2019, Komodo was one of just a few cryptocurrencies registering strong and persistent gains. Those gains were quickly wiped out in November 2019. However, Komodo has signaled some strong buying and has done well in the current bullish environment. I’ve left one of the ideas on this chart that show an entry we looked at back in December 2019, a buy signal that yielded some excellent gains. Notice that the December 2019 entry at 0.60 has now turned into a support zone. The most recent buying push on Komodo’s Point & Figure chart has seen it top out at the 0.68 value area, creating a double-top. This does create an excellent opportunity though. One of the single most significant multiple tops that you can find on any Point & Figure chart is the triple-top. When triple-tops are broken, prices move hard and they move fast. If Komodo can move back to 0.68 and form a triple-top, then all we need to do is wait for the next X higher and we have our buy signal. When the triple-top does break, expect to see some very high prices generated in a very fast timeframe.
Buy Signal @ $0.69