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Trade Recommendation: Ethereum

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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.

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3.7 stars on average, based on 251 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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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.”

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Trade Recommendation: NEO/Ethereum

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The NEO/Ethereum (NEO/ETH) pair took out resistance of 0.07 on August 31, 2018. This triggered the breakout from the large falling wedge on the daily chart. The price action attracted breakout players and momentum traders who helped push the pair to as high as 0.099934 on September 12.

Although we missed the breakout rally, we’re confident that we’ll be able to buy the dip. After all, NEO/ETH was already trading at extreme overbought territory. It would be foolish to chase a flying altcoin. We’d rather wait for the pullback and see how the market plans to resume its uptrend. It looks like we’re getting the go signal.

Technical analysis shows that NEO/ETH has just taken out resistance of 0.08. This enabled the pair to break out of the bullish pennant on the daily chart. The breakout looks convincing because of serious volume. On October 18, the market breached the resistance with volume that’s over 180% of its average.

In addition, the 30-day, 60-day, and 90-day moving averages are all lining up below the candles. This is an uncommon alignment indicating that the uptrend is strong and healthy.

The strategy is to buy the retest of breakout as close to 0.08 as possible. As long as the market stays above this level, it has all the momentum it needs to rally to our target of 0.115. The process may take a month.

Daily Chart of NEO/Ethereum on Binance

As of this writing, the NEO/ETH pair is trading at 0.081214 on Binance.

Summary of Strategy

Buy: As close to 0.08 as possible.

Target: 0.115

Stop: 0.076

 

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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3.7 stars on average, based on 251 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: Stellar

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Our July 10 trade recommendation for Stellar (XLM/USD) hit its target on July 17 when it went as high as $0.2564. Those who followed the trade suggestion grew their investments by over 40% in one week.

While Stellar overshot our target price and climbed as high as $0.352 on July 25, we were satisfied not to chase the rally. At that point, the market was trading in overbought territory. In addition, it was flashing a bearish divergence. We’re happy to wait for the dip to get our next chance to buy. It looks like that opportunity is presenting itself.

Technical analysis shows that XLM/USD is poised to breach resistance of $0.255. This would trigger the breakout from the large symmetrical triangle on the daily chart. Stellar has been trading inside this pattern since May 2018. A clear breakout should generate a lot of bullish momentum.

Also, the daily RSI is in great shape. It just bounced off support of 37 after flashing overbought readings on September 23. This tells us that the RSI has cooled off so it has the room to accommodate a monster rally.

Last, we’ve been hearing rumors that Coinbase might potentially add Stellar to its exchange. This type of development could help ignite a breakout.

The strategy is to buy the breakout at $0.255 after the market generates volume of at least 2.5 million Stellar units. The market is up against a long-term resistance area. In other words, you can expect heavy selling at $0.255. Stellar needs buyers to alleviate the selling pressure.

Once breakout is complete, the market will likely have the momentum to rally to our target of $0.35 first and then $0.45. The process may take more than a month.

Daily Chart of Stellar/US Dollar on Bitfinex

As of this writing, the Stellar/US Dollar pair is trading at $0.24958 on Bitfinex.

Summary of Strategy

Buy: Breakout at $0.255 after volume of 2.5 million Stellar units.

Target: $0.35 first and then $0.45.

Stop: $0.24 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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3.7 stars on average, based on 251 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: WAX

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WAX is the #92 ranked cryptocurrency with a market cap of $64 million. Over the past several months, WAX token has crashed harder than most the other top 100 tokens. This is mostly do to news way back in June of Valve, the developer of the popular game Counter-Strike; Global Offensive (CS;GO), sending a cease and desist order to OP Skins. OP Skins responded by saying, “The future of digital item trading is instant, free, and peer-to-peer. Wax is being built to support a post-Valve trading economy. Valves’ decision was not unexpected, one company cannot kill the digital item trading industry.”

There are over 80 employees developing the WAX ecosystem. They already came out with their own skin making platform called VGO, it’s the most used Dapp in all of crypto. Through VGO, games can create and sell their own unique items on the WAX blockchain, similar to Ethereums ERC721 protocol. These NFTs will be designed to be interchangeable in future games. The first game to use them called, The Forge Arena is already being played.

The team has formed several new partnerships including Terra Virtua, a new startup apparently some are calling the “Netflix of VR”.

Just a couple days ago they announced WAX Stickers. A promising new concept that allows creating and selling unique stickers that can be used with skins or in other forms of social media.

Upcoming Catalysts

  • WAX is partnered with Robotcache, a platform to resell your digital PC games. Instead of doing an ICO, Robotcache is raising funds privately, and in Q4 will airdrop a small percentage of their IRON tokens to WAX holders.
  • WAX platform/protocol token will be issued to all WAX holders at a 1:1 ratio in Q4. This new token will be the backbone of the ecosystem.
  • Guild creation and voting starts in Q4. Guild leaders are allowed to reward WAX holders for votes.
  • WAX is still not listed on Binance.
  • October 28-29, they will be presenting at TwitchCon
  • October 30- Nov 2, presenting at World Crypto Con. Both of these conferences are huge.

Past 8 months chart in BTC

Summary of Strategy

The lowest price it has been is around 860 sats for a short period just last month. It currently sits at 1040 sats after a recent 10% spike.

Buy: Current price or lower 0.00001020

Target: 0.00001640 (try to hold thru the airdrop Q4, the exact date will be announced soon on Telegram. sell the old ETH-WAX right after receiving the new airdrop)

Stop: 0.0000850

Join the WAX community https://t.me/wax_io

Disclaimer: The writer owns WAX token.

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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4.2 stars on average, based on 26 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!




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