The most watched rising stars of the crypto-market experienced a steep correction together with the majors, and they are still in the same boat as Ethereum and despite the lower level of correlation today. Stratis, Steem, and Bitshares held up well compared to BTC during the decline, while Zcash got hit harder, although the coin was overbought at the beginning of the move after its recent rally. Antshares is in a different “rhythm” as it just entered a short-term correction after a healthy rally.
STRAT/BTC, 4-Hour Chart Analysis
Stratis is still inside its consolidation pattern that we have been monitoring for weeks now, and it might be ready to try a break-out, as the declining short-term trendline is converging with the key value zone just above 0.0025 that has dominated trading in the last couple of days. The MACD is showing neutral readings, and short-term traders would get a buy signal above the 0.0029 level.
ZEC/USD, 4-Hour Chart Analysis
ZEC dropped sharply during the correction, and the short-term technical picture is still shaky, with the declining trend being intact. The coin might need more corrective action before it can launch a rally, and the re-test of the 0.0011 level compared to BTC and the $270 level on the USD could be the next move for ZEC.
ZEC/BTC, 4-Hour Chart Analysis
BTS/BTC, 4-Hour Chart Analysis
Bitshares have been trading in a narrow range between 0.00009 and 0.00010, and it is approaching a strong convergence zone, where the value area, the declining short-term trendline and rising long-term trendline collide in a couple of days. The zone is a good candidate for a take-off zone, although the ongoing correction in ETH and BTC could still postpone the next major move.
Steem/BTC, 4-Hour Chart Analysis
The technical picture hasn’t changed since our last update on the coin, as it still trades below strong resistance and the declining short-term trendline. Steem could still be in for more sideways action, with a possible long-term base developing in the 0.0006 and 0.000675 levels. That zone provides a good opportunity to increase long-term holdings in the coin, but short-term traders.
ANS/BTC, 30-Min Chart Analysis
The star of the recent days exited the short-term rising trend recently, and that signals a correction that could take back the coin to the 0.003 support if the 0.00325 level fails to hold the market. That said, the 30-minute MACD is already back to neutral, and a move above the declining trendline of the correction could mean the resumption of the explosive rise of the volatile coin, so holding on to part of the short-term positions is advised while looking for a re-entry point near the strong support level.
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