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Trade Recommendation: Cardano/Ethereum

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Our trade recommendation for the Cardano/Ethereum (ADA/ETH) pair on June 24, 2018 achieved its target in less than a month. ADA/ETH climbed as high as 0.00039879 on July 19. Those who followed the recommendation grew their investments by around 30%.

As expected, ADA/ETH pulled back after the short rally. We believed it was due for one more leg down before it could launch a bull run. So far, ADA/ETH is following the script.

Technical analysis show that ADA/ETH is about to break out of a large symmetrical triangle pattern on the daily chart. This view comes after the pair completed the five waves of the triangle. Currently, ADA/ETH is trading at the apex of the triangle and near the resistance. Bears are working hard to keep market control but it’s just a matter of time before bulls run them over.

That’s because the daily RSI is about to explode as well. If bulls continue to respect the RSI support, then that should trigger a break out in momentum, volume, and price.

The strategy is to buy the breakout at 0.00034 after ADA/ETH generates volume of 30 million Cardano units. Overall altcoin sentiment remains bearish, which is why many are still shorting the market. ADA/ETH needs buyers to absorb the selling pressure.

A convincing breakout may take the market to our target of 0.00057. The process may take a month.

Daily Chart of Cardano/Ethereum on Binance

As of this writing, the Cardano/Ethereum pair is trading at 0.00033146 on Binance.

Summary of Strategy

Buy: Breakout at 0.000034 with volume of 30 million Cardano units.

Target: 0.00057

Stop: 0.00032 after the breakout.

 

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 (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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3.6 stars on average, based on 247 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Trade Recommendation: TRON

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The TRON/Bitcoin (TRX/BTC) dropped to as low as 0.00000259 on August 16, 2018. At that price level, the market was down by over 87% from the 2018 peak of 0.00002047. Fortunately for TRX/BTC, 0.0000026 is a buy zone. Bulls used this level back in December 2017 as a staging ground to launch its parabolic run. Now, we’re seeing bulls use it to reverse the market’s trend.

Technical analysis shows that TRX/BTC took out resistance of 0.00000375 on October 7, 2018. This triggered the breakout from an inverse head and shoulders pattern on the daily chart. The breakout looked convincing as well. On October 7, the market printed volume that’s over 156% of its daily average. The price action attracted breakout traders who helped push the pair to 0.00000429 on October 9.

The rally, however, was seen as an opportunity by those who bought the bottom to take profits. As a result, TRX/BTC dropped to 0.00000333 on October 11. This price movement may be concerning because the pair went below the breakout level. The good news is the 30-day moving average came to the rescue as it acted as a reliable support. Bulls relied on it to lift the market above the breakout.

In addition, the daily RSI appears to be already in an uptrend. It has been generating a series of higher highs and higher lows indicating that bulls are gaining significant strength.

The strategy is to buy the breakout as close to 0.00000375 as possible. As long as the market is above this level, it will attract more breakout traders and bargain hunters. They will help push TRX/BTC to our target of 0.0000048.

The process may take a month.

Daily Chart of TRON/Bitcoin on Binance

As of this writing, the TRON/Bitcoin pair is trading at 0.00000386 on Binance.

Summary of Strategy

Buy: The breakout as close as 0.00000375 as possible.

Target: 0.0000048

Stop: 0.0000035

 

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 (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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3.6 stars on average, based on 247 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Trade Recommendation: Lisk/Ethereum

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The Lisk/Ethereum pair (LSK/ETH) took out resistance of 0.01 on August 15, 2018. This enabled the market to break out from the large falling wedge on the daily chart. The breakout ignited a rally that saw the pair climb to as high as 0.01952549 on September 9. In less than a month, LSK/ETH grew by over 95%.

The tremendous surge in such a short period of time emboldened breakout players and bottom pickers to take profits. As sellers dumped positions, the market dropped to 0.01366334 on September 22. The good news is that this dump is giving us an opportunity to buy the dip. Those who missed the breakout rally can get in while the market is still in the early stages of its bull run.

Technical analysis shows that LSK/ETH is creating a bullish flag on the daily chart. It appears that the consolidation is still ongoing and a breakout is not yet on the horizon. Actually, the market just respected the resistance of the flag. This provides us with the chance to bottom fish the market.

In addition, the daily RSI is also respecting immediate resistance of 56. This is another clue that LSK/ETH has more downside potential before it can resume its uptrend.

The strategy is to buy on dips as close to 0.012 as possible. LSK/ETH has a firm support at that level. The market will likely use it to stage a breakout rally. Once the breakout from the pattern is complete, the pair will likely move to our target of 0.025.

The process may take more than a month.

Daily Chart of Lisk/Ethereum on Binance

As of this writing, the Lisk/Ethereum pair is trading at 0.0143 on Binance.

Summary of Strategy

Buy: As close to 0.012 as possible.

Target: 0.024

Stop: 0.011

 

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 (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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3.6 stars on average, based on 247 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Trade Recommendation: Ontology/Ethereum

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The Ontology/Ethereum pair (ONT/ETH) breached resistance of 0.0045 on August 16, 2018. This triggered the breakout from the falling wedge pattern on the daily chart. The price action reversed the market’s trend and enabled the pair to climb to as high as 0.009756 on September 12.

At that price, breakout players and bottom fishers started to take profits. The selling drove the market down to 0.007775 on September 21. While this price movement might have forced those who bought the top to cut their losses, the reality is that the market is very bullish. We have technicals to support our claim.

Technical analysis shows that ONT/ETH is creating a large bullish pennant on the daily chart. This pattern indicates that the market is currently consolidating. Nevertheless, the uptrend remains intact.

In addition, technical indicators are showing that the consolidation is about to end. First, the daily RSI appears to have generated a higher low at 46. With a higher low in place, bulls have the room to rally without immediately flashing oversold readings. Furthermore, the volume is gradually declining. This shows that sellers are losing ammunition.

The strategy is to buy the breakout as close to 0.0088 support as possible. As long as the market respects the support of the pennant, it has to momentum to rally to our target of 0.014.

The process may take a month.

Daily Chart of Ontology/Ethereum on Binance

As of this writing, the Ontology/Ethereum pair is trading at 0.008998 on Binance.

Summary of Strategy

Buy: As close to 0.0088 as possible.

Target: 0.014

Stop: 0.0085

 

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 (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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Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
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3.6 stars on average, based on 247 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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