Price Analysis of Stratis, Zcash, Bitshares, Steem, Antshares | Hacked: Hacking Finance
user

Analysis

Price Analysis of Stratis, Zcash, Bitshares, Steem, Antshares

Posted on .

Price Analysis of Stratis, Zcash, Bitshares, Steem, Antshares

Introduction

This article was posted on Wednesday, 08:00, UTC.

The smaller coins have been following the majors lower in the strong correction of the past few days, as the correlation between the coins jumped and the main swings were concerted in the different currencies. Yesterday’s re-test was slightly different, as some of the coins started diverging from Bitcoin and Ethereum, while the huge drops in Dollar terms provided buying opportunities for long-term investors in the case of the already consolidating small cap coins. The short-term trends remain negative and volatility will likely remain high on the coming days, but a less hectic environment would be a bullish sign.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

Stratis (STRAT)

Stratis/BTC, 4-Hour Chart Analysis

Stratis held up well compared to Bitcoin during the sell-off, remaining inside the long-term consolidation pattern that we have been monitoring. The coin held above the 0.00215 level on the BTC chart, and the long-term support near $5.75 against the USD. The declining short-term trend remains intact and positions playing the bounce should be kept small, as volatility is still expected to stay rhigh.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

 

Zcash (ZEC)

ZEC/BTC, 4-Hour Chart Analysis

ZEC broke through several strong support levels during the correction on both the BTC chart and the more volatile USD chart. The long-term picture favors more consolidation, as the coin was hitting new highs just recently, and it entered the correction in an overbought state. Short-term traders should wait with new long positions while long-term investors could at to their existing positions if thecurrency re-tests its recent lows.

ZEC/USD, 4-Hour Chart Analysis

Bitshares (BTS)

BTS/BTC, 4-Hour Chart Analysis

Bitshares slipped below the key 0.0001 level that acted as support before the correction, and it found support right at the 61.8% Fibonacci-retracement level, where it currently trades. The coin is still in its advancing long-term trend, with the trendline being slightly above 0.00008, providing a possible final target for the correction, and a good entry point for long-term investors.

Steem (STEEM)

Steem/BTC, 4-Hour Chart Analysis

Steem broke below the 0.00075 level during the correction, and dipped below the other crucial support near the 0.00066 level, but the coin rebounded strongly above that zone. The declining short-term trendline is intact and although Steem is below the long-term trend-line. a quick rally would trigger a new buy signal.

Antshares (ANS)

ANS/BTC, 30-Min Chart Analysis

Antshares was already in a steep short-term downtrend when the correction began, and it dipped below the 0.002 level two days ago, but remained well above the lows yesterday. The 30-min chart is already on a buy signal, and a break above the 0.003 level would further confirm the uptrend. The 0.00315 and 0.004375 levels serve as targets for the rally, while a break below the short-term trendline at 0.0025 would warn of further consolidation.

Featured image from 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.



Feedback or Requests?

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR manwell44

    Posted on 9:02 pm June 29, 2017.

    thanks so much for including ANS 🙂

  • View Comments (1) ...
    Navigation
    The team:
    Dmitriy Lavrov
    Analyst
    Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
    Jonas Borchgrevink
    Founder
    Jonas Borchgrevink is the founder of Hacked.com and CryptoCoinsNews.com. He is a serial entrepreneur, trader and investor. He shares his own personal journey on Hacked.com. // -- Discuss and ask Read More
    Mate Csar
    Analyst
    Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive Read More
    Mati Greenspan
    Analyst
    Senior Market Analyst at Etoro.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
    Rakesh Upadhyay
    Analyst
    Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use Read More
    Pamela Meropiali
    Account Manager
    Pamela Meropiali is responsible for users on Hacked.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Read More
    Joseph Young
    Journalist
    Joseph Young is a finance and tech journalist & analyst based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering Read More
    Financial repression; this term has to the defining factor of…