Rising Cryptocurrency Analysis: Digibyte, Zcash, Bytecoin, Golem, Bitshares | Hacked: Hacking Finance
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Rising Cryptocurrency Analysis: Digibyte, Zcash, Bytecoin, Golem, Bitshares

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Rising Cryptocurrency Analysis: Digibyte, Zcash, Bytecoin, Golem, Bitshares

Introduction

This article was posted on Thursday, 15:10, UTC.

After yesterday’s look at Stratis, Siacoin, Steem, Factom, and Lisk today we take a look at another five up and coming coins. Again some of these are sporting several 100% of gains, but the risks associated with them are also higher, trading volumes are lower than on the more established coins, which could lead to sudden spikes in the prices so always control position sizes!

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Digibyte(DGB)

DGB/BTC, 4-Hour Chart Analysis

DGB has been consolidating for a week after its strong rally in the first days of the month, and it has built up a short-term base between 0.00001575 and 0.00001750 compared to BTC. The MACD indicator is almost back to neutral territory, pointing to a likely break-out in the next few days, although more consolidation is possible. Should the coin break above the 0.000022 resistance, a re-test of the prior high would be expected.

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Zcash (ZEC)

ZEC/BTC, 4-Hour Chart Analysis

Zcash has been consolidating even longer on both the BTC and the USD charts after running into strong resistance at the $300 level. The coin recently broke out above that level on the Dollar chart but, so far, failed to initiate a strong move to new highs. On the BTC chart, the 0.115 resistance seems to be the key level to watch. In the case of a break-out, the $350 $380 levels are the primary targets in the ZEC/USD pair.

ZEC/USD, 4-Hour Chart Analysis

Bytecoin (BCN)

BCN/USD, 4-Hour Chart Analysis

Bytecoin is the coin with the lowest trading liquidity among the top 10 coins by market capitalization, so relatively large spikes should be expected in the price. The coin has been consolidating in a narrowing pattern for more than two weeks, and it’s now getting close to a major convergence zone, with the volatility constantly decreasing. A break-out from the consolidation pattern is possible in the next couple of days, with strong resistance levels at 0.0000018 and 0.0000028 against BTC.

Golem (GNT)

GNT/USD, 4-Hour Chart Analysis

Golem is also in a lengthy consolidation pattern since spiking to 0.00026 in late-May. The 0.000205 level has been acting as strong resistance in the last two weeks, while the 0.0001750 level supported the price, further resistance is ahead at 0.000225 before a re-test of the prior high.

Bitshares (BTS)

BTS/USD, 4-Hour Chart Analysis

Bitshares is on the move today, as it broke-out from its consolidation pattern with huge volume, and surged above its prior highs in the BTC pair at 0.0000515. The coin failed to hit the primary Fibonacci resistance at 0.00006 so far, as it pulled-back towards the recent high. The MACD is bullish after the deep correction, and the rally could reach further targets at 0.000065 and 0.000068 in BTS/USD.

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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 mike118118

    Posted on 11:29 pm June 8, 2017.

    Nice to see other coins being analysed, keep up the good work.

  • user

    AUTHOR pradz

    Posted on 6:59 am June 10, 2017.

    Mate,
    I wrote in to Jonas a few weeks ago regarding analysis on low-value coins for smaller traders and i see that materialized here. Thanks much for this.

    It helps. Looking fwd to future commentary on the same.

  • user

    AUTHOR Ritesh Sheth

    Posted on 7:10 am June 10, 2017.

    Hi Thanks for the analysis of other coins, great work, I got a suggestion for VOX coin, hope may be coming it has great potential. As it is from gaming industry. Your Analysis would be great. Tha. thanks anyway

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