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Rising Cryptocurrency Analysis: Stratis, Siacoin, Steem, Factom, Lisk

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A new crop of rising stars seems to be appearing in the crypto-coin market on a daily basis, as ICO’s are taking place in all kinds of segments, while some of the running projects get boosted by the market on favorable news announcements or trading activity. These coins provide good opportunities for traders, but be aware, risks might also be higher, so careful with those margin accounts!

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Thanks to our ICO analysis series, you can get ahead of the curve, and find the winners of the future before they even start circulating. Today, we will take a look at the five of the up and coming coins that are already out in the wild, or actually have been there for quite a while, from a trader’s perspective.

Interested in another small cap coin or coins? Let us know in the comment section, and we will post an analysis in the coming days!

Stratis

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Stratis/BTC, 4-Hour

Stratis crossed the $1 billion market value recently, racing to the 7th place of the market cap list according to Coinmarketcap. If you recall it wasn’t long ago, that Ethereum crossed this mark (earlier this year), and now it is north of $25 billion. The coin has been consolidating since last week’s extraordinary rise, as we expected after running into resistance near 0.0045 on the Bitcoin pair. While the coin is not on a buy signal as of now, it should on traders’ watchlists, as a move out of the short-term pattern could trigger another leg higher in both the BTC and the USD pairas we expected after running into resistance near 0.0045 on the Bitcoin pair. While the coin is not on a buy signal as of now, it should on traders’ watchlists, as a move out of the short-term pattern could trigger another leg higher in both the BTC and the USD pair

Steem

Steem/BTC, 4-Hour Chart Analysis

Steem is also right near the top 10 of the capitalization list following the break-out of a month-long consolidation just a few days ago. The coin surged above the prior high at 0.00075, and got close to 0.001 before entering a short-term correction. That said, Steem remains on a buy signal on the BTC pair, above the prior high. Although this is probably not the best point to enter an investment position, short-term traders could still ride the wave higher, despite the overbought readings on the MACD.

Siacoin

Siacoin/BTC, 4-Hour Chart Analysis

Siacoin is getting close to a possible entry point near the May highs on the BTC pair. Just above the 0.0000053 level, as the current short-trm consolidation pattern carried the coin back to the strong support/resistance zone. The MACD is approaching neutral territory, and although further consolidation is possible, a move out of the correction could set a up a rally towards the prior highs and above that to the 0.00000875 level.

Factom

Factom/BTC, 4-Hour Chart Analysis

Factom ran into resistance just above the 0.012 level yesterday, and it is now probably headed back to test the prior high just below the 0.010 level on the BTC pair. There is a convergence zone with the rising short-term trendline near that zone, which could provide a good entry point for short-term traders. The coin recently broke-out from a lengthy consolidation zone, which could serve as a base for further gains in the coming weeks.

Lisk

Lisk/BTC, 4-Hour Chart Analysis

Lisk exploded above its prior high this week, and quickly reached the 100% Fibonacci-extension resistance. The coin pulled-back off that level, but remains well above the 0.00075 break-out level, while it’s trying to establish a swing low. We expect more consolidation before a break-out above 0.0012, but as a support zone is likely to develop near the 0.00085 Fibonacci level, short-term traders could consider new positions in anticipation  of a break-out.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.7 stars on average, based on 99 rated postsTrader 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.




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19 Comments

19 Comments

  1. jedadoo

    June 7, 2017 at 3:10 pm

    Thank you! I like to see some analysis on some new coins and technologies available.

  2. hidemu

    June 7, 2017 at 3:13 pm

    Don’t forget about XVG Verge

    • Mate Cser

      June 7, 2017 at 3:20 pm

      Thanks for the feedback! Will be included in the next article!

  3. muellerro

    June 7, 2017 at 3:24 pm

    Very interesting coverage. Can anybody tell me how and where these coins be traded?

    • Mate Cser

      June 7, 2017 at 3:31 pm

      They can all be traded at Poloniex!

      • muellerro

        June 7, 2017 at 3:51 pm

        Thanks @Mate Cser!

      • ezra

        June 7, 2017 at 3:55 pm

        I live in NY and poloniex doesn’t work here do you know of any other platform that’s good?

        • Mate Cser

          June 7, 2017 at 4:46 pm

          Bittrex and Kraken also have a wide selection of altcoins!

          • ezra

            June 7, 2017 at 8:31 pm

            Thanks! yes i joined Bittrex just now. kraken also doesn’t seem to work in New York.

        • kaifovo

          June 7, 2017 at 5:21 pm

          In US i use coinbase.com to transfer money and then bittrex.com to trade above mentioned currencies. I’m in TX.

  4. cryptohub

    June 7, 2017 at 3:47 pm

    Could you add XVG,ABY, RDD to your analysis

    • Mate Cser

      June 7, 2017 at 4:42 pm

      Sure, Thanks for the input!

  5. Antaris

    June 7, 2017 at 4:08 pm

    Hi Mate,could you please analize Aragon tokens ?
    Thanks for your great job over here !

    • Mate Cser

      June 7, 2017 at 4:42 pm

      Hi Antaris, We will include them soon1 Thanks for the feedback!

  6. Jorn van Hoorn

    June 7, 2017 at 6:31 pm

    Thanx! What do you think of the fact there’s no cap on the Tezos fundraiser being conducted by the Tezos foundation?

  7. ankoorgupta9

    June 7, 2017 at 7:26 pm

    What are the views on ARK , BAT, BCAP, Byteball, Gnosis

    • Mate Cser

      June 7, 2017 at 7:30 pm

      We will cover those in our coming updates! Thanks!

  8. Ershad

    June 8, 2017 at 8:17 pm

    Hi Mate,

    Thanks for your analysis, I wanted to ask whats the target for Steem? Are we likely to sell $10 in the near future?

    Kind regards,
    Ershad

    • Mate Cser

      June 9, 2017 at 3:46 am

      Hello Ershad,

      I would say that it’s possible, but it’s still a long shot. My guess is late 2017.

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Analysis

Cryptocurrencies: Five Reasons Why The Worst Is Behind

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February 5, 2018 is the day when investor fear was replaced by greed. That marked the current bottom for cryptocurrency prices.  Simple enough to make this claim now that we have had a few good trading days.  But how do we know for sure that the worst is behind?

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Oh if there was a reliable way to measure fear and greed in this nascent crypto world. It could tells us emphatically when market tops and bottoms are occuring, we could make some real digital dough.  True, there are lots of tools that have been tried on traditional markets likes stocks and bonds.  But if these will truly work in crypto land remains to be proven.

Sometimes the most reliable barometer is nothing more complicated than “gut feel”.  Here is what feels encouraging when I apply this test.

The February 5th Bottom

Volatility has been a major feature in crypto trading since day one.  After better than a 7000% appreciation in Bitcoin and Ether in 2017, should a massive correction be a surprise? Between December of last year and February 5th, Bitcoin lost almost two thirds of its value while Ether dropped almost 50%.  We could go on listing every currency but you get the point.

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It this were the infamous Dutch tulip bubble of 1634 the carnage would have continued endlessly.  With crypto, investors collectively found value starting on February 5.  Since then, Bitcoin has gained 50% and Ether about 30%.  That has all taken place in a matter of a two weeks.

This is unprecedented.  When the dotcom price burst in February 2000 the Nasdaq began a 75% fall before hitting bottom in November.  It took fully 14 years before the Nasdaq fully recovered.

Running Scared Of Government

Many investors try to connect the stock market correction with the slide in the cryptocurrency markets.  That would be a mistake because the circumstances are quite different.

The crypto correction and frightening headlines coming from China and Korea about threatened government crackdowns had everything to do with investors heading for the sidelines. This is not to ignore the mechanical influences like the slow transaction speeds etc. But the minute the word government comes into the picture, the worst fears take over.

With the benefit of time, investors are slowly coming to the realization that no government regulation can effectively control ownership of cryptocurrencies. They can however, regulate the operation of exchanges and that is a good thing.  This offers the chance to clean up the bad practices, excessive fees and outright scams which have hurt the individual investor.  

Initial investor reaction to the Chinese and Korean government news reminds us of an important point.  There is no such thing as perfect information in the crypto market.  Even so called professional investors know very little.  The general public are price driven momentum players.  Even erroneous headlines move markets; facts take more time .  

A  Pickup In ICOs

It doesn’t matter if you are dealing with stocks bonds or Bitcoin, when investors are willing to put money in the most speculative sectors, that is a sign of market strength.  Recently we wrote an article noting a precipitous drop in capital raised from ICOs during January.

We used data compiled by ICO Watchlist.  These folks are the only ones collecting data and their numbers don’t alway agree.  But we are using their date consistently for comparative purposes.

From a monthly average of about $400 million during the four peak months of 2017,  January dropped to just $76 million.  Easy to understand, investors lost their confidence in high risk instruments.

Things are beginning to change. With the recovery of major currencies the ICO market is showing new life.  With more than a week left in the month, ICOs have raised over $176 million, according to ICO Watchlist.

These figures exclude the current ICO underway for messaging app Telegram that claims it has raised $850 million thus far in a $2 billion total effort.  If these initial reports prove accurate it would be the largest ICO on record and create bold headlines.

More Hedge Funds Are Coming

According to Autonomous hedge fund money is piling up to between $3.5 and $5 billion marked exclusively for crypto investing.  The rise is dramatic reaching 226 funds globally compared with about half that many as recently as 5 months ago.  At the start of last year there were just 37.

The Negative Headlines Are Gone

There is nothing like raising prices to force the media to seek explanations.  Now instead of naysayers like Warren Buffett being quoted incessantly, CNBC brings on Shark Tank host Robert Herjavec declaring the Bitcoin is “going to skyrocket again” the “blockchain technology is here to stay” and that more government regulation will be the key driver.

CNBC even dragged out an old forecast by Tom Lee prejecting Bitcoin at $25,000 this year and Kay Van-Petersen of Saxo Bank predicting Bitcoin at $100,000.

The market litmus that I call “ gut feel” is hardly scientific.  There are probably analysts of big data that can offer better supporting evidence.  But for now, things are looking pretty good.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.3 stars on average, based on 21 rated postsJames Waggoner is a veteran Wall Street analyst and hedge fund manager who has spent the past few years researching the fintech possibilities of cryptocurrencies. He has a special passion for writing about the future of crypto.




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Analysis

Technical Analysis: Bitcoin Tests Weekend High as Consolidation Continues

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The major cryptocurrencies entered a shallow correction during the weekend, and most of the coins are still trading below their prior rally highs, with only Ethereum Classic registering new highs. BTC is also very close to its Saturday high, as it is still leading the market higher, outperforming both Ethereum and Ripple.

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Bitcoin is still slightly overbought form a short-term perspective and the correction could still continue in the coming days, with key support zones found near $10,000 and between the $9000 and $9200 levels. That said, the price action in the most valuable coin and the broader segment is still in line with the bullish scenario, and we expect the trend to continue after the correction. Above the $11,300 level further resistance is ahead at $13,000 and $14,250.

BTC/USD, 4-Hour Chart Analysis

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Among the other relatively strong coins, Litecoin and Monero are also holding up well, while NEO is also showing short-term strength, diverging slightly from Ethereum which it has been correlating with in recent weeks.

Monero is also trading close to the weekend highs, as is working its way through the overbought short-term momentum readings. The coin is well above the previously dominant trendline, in clear short-term uptrend. Traders and investors could be looking for entry points during the correction, with strong support at $300, $280, and $240.

XMR/USD, 4-Hour Chart Analysis

(more…)

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Analysis

Crypto Update: Market Still on Bullish Track as China, US Closed

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The segment might be in for a long weekend regarding trading activity, as both the US and Chinese traditional markets are closed, for the New Year and Presidents’ Day, respectively. That said, the major coins could still provide important clues about the state of the current uptrend, as the crucial correction that started yesterday is still ongoing, even with some of the currencies showing encouraging relative strength.

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The positive signs that we have been monitoring throughout the rally continue to persist, and as we mentioned yesterday, this pullback is very important in establishing a bullish cycle in the sector after the preceding steep decline.

Correlations remain relatively low, the momentum of the decline stayed muted so far, the leaders of the rally are still behaving well, so bulls could be looking for another leg higher soon.

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BTC/USD, 4-Hour Chart Analysis

Bitcoin is trading slightly below its weekend highs after spiking down towards the $10,000 support yesterday, as the largest coin recovered well following the initial move.

BTC still faces strong resistance near $11,300, with the next major level ahead at $13,000, and as the short-term momentum indicators still have room to correct, the consolidation could continue in the coming days with crucial support below $10,000 found in the $9000-$9200 range.

Ethereum Classic Leading Again

ETC/USD, 4-Hour Chart Analysis

Ethereum Classic continues to spearhead the rally, as the coin already hit a new cycle high above $38 today in early trading, and although the correction, which started before the segment-wide pullback could still continue, the relative strength of the coin is encouraging.

Above the current levels, further resistance is ahead only near $43 and $47, the all-time high for the currency. ETC could be the first major to score a record high after the correction, but long-term investors should be aware that another bullish swing could already carry the coin to overbought momentum readings, with it being already up almost three times off the crash lows, so now we wouldn’t add to long-term holdings.

LTC/USD, 4-Hour Chart Analysis

The other major altcoin are behind ETC in the cycle, with LTC and Monero still being the strongest from a technical perspective. Both coins are still trading in orderly short-term corrections above the previously dominant declining trendline, and they will likely continue to lead the broad rally. Ripple could also be ready for a move after its longer correction, and NEO is still showing surprising in today’s quiet environment, with the rest of the majors being virtually unchanged.

Stay tuned for our detailed technical analysis later on today.

Featured image from Shutterstock

Disclaimer:  The analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.7 stars on average, based on 99 rated postsTrader 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.




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