Connect with us

Recommendations

Trade Recommendation: Ethereum

Published

on

The Ethereum/US Dollar pair (ETH/USD) launched its bull run on November 23, 2017 when it broke out of $400 resistance. With a solid base between $200 – $400, the market skyrocketed to as high as $1,419.96 on January 13, 2018. In less than two months, the pair grew by almost 255%. Those who bought the breakout and followed the trend were happy to take profits.   

Faced with heavy selling pressure, the market dropped to $757 on January 17. Bottom pickers bought the dip but the rally they inspired could only carry the market to $1,224 on January 28. The lower high was a clear signal that the bull run was over. Market participants responded by taking profits or cutting their losses. As a result, the market created a series of lower highs and lower lows until recent price action.  

Technical analysis show that Ethereum/US Dollar appears to be bottoming out at $400 support. This comes after the pair may have capitulated on March 18 when it printed over 375% of its average daily volume. In addition, volume also spiked on March 29 and March 30 when the pair went below $400 support. This suggests that bulls are coming out to buy the support.

The strategy is to buy as close to $400 as possible. If bulls defend the support, they will create a base before moving to our target of $620. Sell immediately once target is hit because the pair will most likely range trade to repair its technical damage. The process may take a month.

Daily Chart of ETH/USD on Coinbase

As of this writing, the Ethereum/US Dollar pair is trading at $421.44 on Coinbase.

Summary of Strategy

Buy: As close to $400 as possible.

Target: $620

Stop: $360

 

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.

Rate this post:

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.
5 votes, average: 3.80 out of 55 votes, average: 3.80 out of 55 votes, average: 3.80 out of 55 votes, average: 3.80 out of 55 votes, average: 3.80 out of 5 (5 votes, average: 3.80 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 201 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.




Feedback or Requests?

12 Comments

12 Comments

  1. dopezone

    April 11, 2018 at 4:18 pm

    I allways wonder. You advice to buy @ $400. It’s now about $420-430. Do you advice here to wait for it to go lower? Or is this the right time to buy?

  2. Kiril Nikolaev

    April 11, 2018 at 4:35 pm

    Good question. I would say it’s up to the investor’s discretion. Essentially trying to buy as close to 400 as possible will depend on your risk tolerance and personal circumstances. If you’re really risk averse then buying at no more than just a bit over 400 would be appropriate. If you’re less risk averse then buying at 420 may work for you, knowing that you’re taking a higher risk.

  3. jasharma

    April 11, 2018 at 9:22 pm

    Hellp Kiril, I always follow your advice before investing. But I am confused how long should I hold it? I have bought WAVES yesterday but it still hasnt reached the expected value yet. Can you please advice how to go about in this kind of situation?

    • Kiril Nikolaev

      April 11, 2018 at 9:45 pm

      I usually write in what time frame I think the asset will reach the target. In this one I believe I left it out, but when range trading it’s usually a fairly short period of time. In this case I think Waves will hit the target in less than a month. Keep in mind, these recommendations are just my opinion of what I think may happen based purely on technical analysis.

  4. jasharma

    April 11, 2018 at 9:49 pm

    Your recommedations have always helped me take right decision. Would be great if you post how long we should HODL a particular coin. On my personal front it helps people like me a lot!

    Thanks again Kiril for guidance!

    • Kiril Nikolaev

      April 11, 2018 at 9:56 pm

      Personally I HODL all my coins. I do not day trade with cryptos. By definition, HODL is when you’re holding your cryptos for a long time and riding through the day to day volatility and not selling. I’ll consider writing some long term trade recommendations based on fundamental analysis instead of purely technicals. Thanks for the idea.

      • fermera_dany

        April 12, 2018 at 10:55 am

        “I’ll consider writing some long term trade recommendations based on fundamental analysis instead of purely technicals”

        Now that would be really great. I managed one such portfolio, which is 4 MO old now and I consider hodling it for a long time.

        I would be very interested to see your top 5-10 picks to hold for the next few years.

        Cheers

  5. jasharma

    April 11, 2018 at 9:58 pm

    Also can you guide us in Short trading?

    • Kiril Nikolaev

      April 11, 2018 at 10:02 pm

      That’s more risky than buying cryptos, even in today’s market environment. Might consider it very rarely

  6. jasharma

    April 11, 2018 at 10:03 pm

    Thanks for the advice. even I will avoid it.

  7. jasharma

    April 11, 2018 at 10:04 pm

    Just last query? How long should ETH HODL? can this hike happen this month?

    • dopezone

      April 12, 2018 at 8:28 am

      He said so in his post:
      “The strategy is to buy as close to $400 as possible. If bulls defend the support, they will create a base before moving to our target of $620. Sell immediately once target is hit because the pair will most likely range trade to repair its technical damage. The process may take a month.”

You must be logged in to post a comment Login

Leave a Reply

Recommendations

Trade Recommendation: TRON

Published

on

The TRON/US Dollar (TRX/USD) pair has been in a downtrend since it failed to take out resistance of $0.085 on May 6, 2018. This showed market participants that the pair was not yet ready to launch a major bull run. As a result, investors dumped positions to either cut their losses or preserve gains.

TRX/USD has been in a downtrend for over two months now. However, long-term investors shouldn’t lose sleep because a reversal appears to be in sight.

Technical analysis show that Tron/US Dollar is very likely to bottom out at support of $0.03. We have several reasons to support this view.

First, $0.03 is the market’s strongest support. Bulls have successfully defended this level since February 2018. More importantly, TRX/USD has always bounced whenever it hit the support. This is an area where demand exceeds supply.

Second, TRX/USD is creating a falling wedge pattern. At $0.03, the pair would be at the narrowest point of the wedge. By then, an explosion would be inevitable. We believe the explosion would have a bullish bias considering that demand is very likely to be high at $0.03.

Lastly, both the daily RSI and MACD are flashing bullish divergence signals. This indicates that the market is gaining strength.

The strategy is to buy as close to $0.03 as possible. If the market can stay above this level, bulls will likely inspire a rally to our initial target of $0.05. Take that out and the market has an easier path to $0.06.

The process may take more than a month.

Daily Chart of TRX/USD on Bitfinex

As of this writing, the TRX/USD pair is trading at $0.0356 on Bitfinex.

Summary of Strategy

Buy: As close to $0.03 as possible.

Target: $0.05 and then $0.06.

Stop: $0.0295

 

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.

Rate this post:

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.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 201 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: ZRX

Published

on

The 0x/Bitcoin (ZRX/BTC) pair started another bull run on April 17, 2018 when it took out resistance of 0.0001. This triggered the rounding bottom pattern on the daily chart. The breakout pushed the pair to as high as 0.000219 on May 10. ZRX/BTC sharply corrected from that point. The good news is that it appears that the corrective period is over.

Technical analysis show that 0x/Bitcoin has taken out resistance of 0.000155. This activated the small cup and handle continuation pattern on the daily chart. The breakout was validated by heavy volume and a strong rally to 0.00018629 on July 15. In addition, technical indicators look healthy. The MACD and the RSI are not flashing any bearish signal.

Furthermore, ZRX/BTC looks bullish long-term. It appears to be in a very wide ascending channel. So far, the pair has respected both support and resistance levels.

Lastly, the pair seems to be respecting support of 0.000155. ZRX/BTC dropped to as low as 0.00014816 but bulls were quick to respond and reclaim the support.

The strategy is to buy the dip as close to 0.000155 as possible. If ZRX/BTC manages to stay above this level, bulls are likely to inspire a rally to our target of 0.00022.

The process may take less than a month.

Daily Chart of 0x/Bitcoin on Binance

As of this writing, the ZRX/BTC pair is trading at 0.00015585 on Binance.

Summary of Strategy

Buy: As close to 0.000155 as possible.

Target: 0.00022

Stop: 0.00015

 

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.

Rate this post:

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.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 201 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: Decred

Published

on

The Decred/Bitcoin pair (DCR/BTC) launched its bull run on May 11, 2018 when it took out resistance of 0.01. This triggered the large inverse head and shoulders reversal pattern on the daily chart. The breakout pushed the pair to as high as 0.015 on June 14. DCR/BTC has been correcting since. However, this can be your chance to buy the breakout.

Technical analysis show that the uptrend of DCR/BTC is very much alive. We have several reasons that support this view.

First, the market plummeted to as low as 0.009 on July 13. This should have triggered many stop losses but the low volume during this pullback shows that investors have strong hands. Their faith in the market was so strong that the technical breach did not bother them. The market established a bullish higher low at 0.009 and rallied.

Second, the rally was accompanied by bullish signals from technical indicators. The daily RSI sharply bounced after registering oversold readings. Plus, the daily MACD reveals a bullish cross. Lastly, the 4-day, 8-day, and 21-day moving averages are attaching to the daily candle’s body while trending up.

The strategy is to buy the dip as close to 0.0095 as possible. If the market manages to stay above this level, bulls are likely to inspire a rally to our initial target of 0.014. Take that out and the market can achieve the target of the inverse head and shoulders at 0.016.

The process may take more than a month.

Daily Chart of Decred/Bitcoin on Bittrex

As of this writing, the DCR/BTC pair is trading at 0.0098 on Bittrex.

Summary of Strategy

Buy: As close to 0.0095 as possible.

Target: 0.014 first and then 0.016.

Stop: 0.009

 

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.

Rate this post:

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.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 201 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.




Feedback or Requests?

Continue Reading

5 of 15 Seats Available

Learn more here.

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending