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2 Explosive Altcoins That are Undervalued – Buy the Dip

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There is a lot said about the high market cap cryptocurrency coins. I wanted to go over 2 undervalued coins that could be on the verge of exploding upward. Let’s get right to it.

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Coin 1: NLC2


NoLimitCoin (NLC2)



Reasons to Watch

1. NoLimitCoin is currently ranked 98 according to Coinmarketcap. When a coin makes it into the top 100 it starts getting a lot more attention. Once it hits the top 50, it will be analyzed by a lot of the top investors. It’s good to get a position in a coin before it crosses the top 50 threshhold. While altcoins are get the crapped kicked out of them NLC2 is moving up against the grain. If you look at the rankings you will see most coins in this range have gotten hammered this week from the upcoming bitcoin fork. However, NLC2 has gained 3% in the last 24 hours as of now.

2. NoLimitCoin has a beta product out that is currently being used. In an industry where almost 80% of altcoins don’t even have a product released yet this is a very good sign.

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3. NoLimitCoin has not hit the biggest exchanges yet. It currently has a market cap of $42,020,962 currently. I would expect this to rise when they hit a major exchange such as Bittrex or Binance.

Looking at the 6-month chart you can see that there was a downtrend, however, over the past couple of days the trend has begun to change. What you don’t want to do is buy a coin when it is at its highest point so you want to look at altcoins that have the potential to explode up in a parabolic rise when something major happens to it. As I said earlier, NoLimitCoin has not hit the top major exchanges yet so it has a very good chance to increase its market cap and jump considerably. It has a working product and has just released a new UI (User Interface) which partly contributed some to the spike. NLC2 has a strong community behind it and a lot of its bigger marketing plans have not even been fully implemented as this point from what I gather from the community. This is one to watch as I believe they are releasing more features to their product in the near future.

Coin 2: PIVX


Pivx (PIVX)

If you look at PIVX you will see it has been on a downtrend as well (Most altcoins have been). This is another coin that is currently undervalued. If you look at the monthly chart you can see that the MACD line is crossing upwards over the signal line. The signal line is the 9-day EMA (Exponential Moving Average). When the MACD (Moving Average Convergence Divergence). MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. What this means is that PIVX could go on a bullish (upward trending) run. For those that may not know, the MACD and the Signal line are the two lines that are under the candle chart. These two indicators are incredibly useful when studying coin charts to help you decide the current direction of the coin. What is also important to look at is the volume which you see as gray bars directly under the candle chart.

Reasons to Watch and Buy

1. PIVX stands for Private Verified Instant Transaction. PIVX is a privacy coin. If you look at other privacy coins you will see that they do amazingly well. Coins such as Monero, Dash, ZCash, Verge. PIVX is a 100% Proof of Stake coin which means it doesn’t rely on miners and rewards through Proof of Stake. So it depends on masternodes to verify transactions. Users can buy into the coin and after buying so many coins be eligible to own a masternode and get rewarded for helping with the stability and processing of coin transactions. This coin has the potential to follow in the footsteps of Dash coin as it was forked from Bitcoin just as Dash. Dash now has a $2 Billion dollar market cap while PIVX is at $153 million. This is very undervalued coin in my opinion.

2. PIVX is a true privacy coin. Unlike Bitcoin where all transactions and addresses are store on a public ledger where anyone could possibly trace the address to a person, PIVX has implemented a protocol called Zerocoin which allows block-level chain anonymity. I don’t know about you but if I had millions of dollars I wouldn’t want my transactions to ever be traced back to me. PIVX prevents that from happening.

3. PIVX just released the final version of their wallet. They are delivering their product which is a big deal as a lot of companies are nothing more than a whitepaper and a fancy website. They are currently working on more security features as well as a completely encrypted, secure chat system within the wallet.

4. PIVX is currently being considered by Binance.com to be added to their exchange. This would definitely affect the price.

5. PIVX allows you to buy coins in order to receive a masternode. You will get paid just for maintaining this masternode as it will be used to process PIVX user transactions. You can also earn interest on any amount of PIVX you have as long as it is in your PIVX active wallet. So you will be getting paid to hold PIVX coins as well as enjoy profits as the coin rises in value on the exchanges as well.

That’s all I have for now but I will continue analyzing coins in my upcoming articles. CryptoDayTrader out…

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5 Comments

5 Comments

  1. fermera_dany

    November 4, 2017 at 7:56 pm

    I like this new additional type of articles.

    Thank you.

  2. nomiaqil

    November 5, 2017 at 10:43 am

    I like the roadmap of NLC, if they’re able to stick to it.

  3. DominicPaul

    November 6, 2017 at 12:11 am

    If its not on the major exchanges, how do you buy it?

    • Kent Hamilton

      November 6, 2017 at 12:29 am

      Hey, NLC2 is on these exchanges in order of volume. You can see this info on Coinmarketcap as well. Just because they are not on the major exchanges doesn’t mean they are not on any exchange:

      1 YoBit
      2 Cryptopia
      3 C-CEX
      4 Cryptopia
      5 CoinExchange
      6 Novaexchange

      YoBit and Cryptopia are decent exchanges. The good thing is that the price may jump once it does hit a major exchange such as Bittrex or Binance

      PIVX is on Bittrex and they are currently trying to get listed on Binance

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Altcoins

Trade Recommendation: XMR/BTC Pair Throwback

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The XMR/BTC market (Monero) has been in downtrend on the hourly chart after posting a high of 0.0225 on December 6 and failing to hold critical support at 0.02. It went to as low as 0.0145 on December 8 before respecting RSI at 32 where it established support. The market used the new support level to rally and generate one higher low after the other. It recently attempted to reclaim support at 0.02 but was repelled by bears. Currently, the market is trading around 0.019 levels where it appears to have created another higher low.

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Technical analysis shows a large reversal pattern in the hourly chart that can take the XMR/BTC pair to 0.025. Even though the market failed to breach resistance at 0.02, investors should not see it as a failed breakout. What we’re seeing is a throwback which is a temporary retreat in price. Throwbacks are common in breakout plays and are often seen as a bullish signal. The next time the market attempts to breach 0.02 resistance, it has a much better chance of breaking it with conviction.

The strategy is to buy breakout at 0.02 with immediate stop at 0.0189.

Hourly XMR/BTC Chart on Poloniex

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As of this writing, XMR/BTC is trading at 0.018714 on Poloniex.

Summary of Strategy

Buy: breakout at 0.02

Target: 0.025

Stop: move below 0.0189 after buying breakout at 0.02.

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Altcoins

Trade Recommendation: FCT/BTC Bullish Reversal

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The market reach its all-time high back in June this year when FTC/BTC (Factom) reached 0.01463162. Unfortunately, the pair wasn’t able to sustain its momentum. It created a lower high several days later at 0.01066744 which signalled investors to take profits or cut their losses. As a result, the market tumbled and lost 93.17% in value from its all-time high. Such a tremendous loss would have created an atmosphere of despair in the market. Usually, that’s when the savviest traders come in.

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Technical analysis reveals that the worst is behind the pair. FCT/BTC touched support at 0.001 on the daily chart twice and respected it on both occasions. This is a good indication that the market has found a reliable support level. In addition, hourly chart shows that a large reversal pattern is underway. The pair may have retreated when it nearly touched 0.002, but it generated a new higher low in the process at 0.00156566. The throwback is a bullish signal that enables the pair to gather momentum to break resistance at 0.002.

The strategy is buy on breakout at 0.002. Breach that level and the market reclaims 0.003. Sell that level because it is a strong resistance.

Hourly FCT/BTC Chart on Poloniex

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As of this writing, FCT/BTC is trading at 0.001738 on Poloniex.

Summary of Strategy

Buy: breakout at 0.002

Target: 0.003

Stop: move below 0.0018 after buying breakout at 0.002.  

 

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

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Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Altcoins

Trade Recommendation: ETC/BTC Pair Bottoming Out

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The ETC/BTC market has been in a downtrend after it generated a high of 0.00931529 in June and failed to hold support at 0.006 on Poloniex. Bears repelled any meaningful rally and sent the market to as low as 0.00129881. Fortunately for the bulls, it appears that the pair may have found its bottom.

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Technical analysis shows signs of selling exhaustion. First, ETC/BTC went into extreme oversold territory when the price reached 0.00129881. Second, and more importantly, the market revisited that level recently after it corrected from its move above 0.003. When the pair tested support, 0.00129881 was held even though the volume was twice its daily average on Poloniex. These indicators suggest that the pair has bottomed out.

The strategy is to buy between 0.00129881 and 0.002. Take note: the market is still in a downtrend, but there’s an opportunity to generate profits by trading the range. Sell when the market touches 0.0032.

Daily ETC/BTC Chart on Poloniex

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As of this writing, the market price of ETC/BTC is 0.00179752.

Summary of Strategy

Buy: between 0.00129881 and 0.002

Support: 0.00129881

Target: 0.0032

Stop: Move below 0.00129881

 

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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