Altcoins are on the climb after this holiday season, it seems that Santa is in town. All of the altcoins on last week’s list made interesting moves, except for Counterparty (XCP/BTC). AION (AION/BTC). These two currencies led the climb as the market pumped by over 35% in one week. Both SingularityNET (AGI/BTC) and NAV Coin (NAV/BTC) breached their range midpoints. On the other hand, PolyMath (POLY/BTC) appears to be creating a bullish higher low at our range midpoint.
Many large-cap altcoins like TRON (TRX/BTC) and EOS (EOS/BTC) have pumped, but Ripple stayed in consolidation. Its brief climb to just over 0.0001 on December 19 was met by heavy selling. As a result, the market is now trading around 0.00009.
Ripple is forming a large bullish pennant. The trend may not have reached the expected high, but with a strong bullish trend, it seems that the market may break out of consolidation in the next few days.
After a strong two-week run EOS, has been consolidating; the market saw a climb to the top end of our range of 0.000697. The bear trend defended the resistance, it seems that bulls are just biding their time.
The 4-hour chart shows that EOS is trading within a falling wedge. If the market respects the 100 MA; that may be enough to ignite a pattern breakout. Otherwise, you can look at the range midpoint of 0.0005825 as a possible staging ground of another strong rally.
Litecoin has now become a crypto frontrunner. Litecoin pumped on December 16, 2018, many of the large-cap cryptos including Bitcoin followed suit. Following Litecoin’s price action can get a feel of where other large-caps are headed.
The 4H chart reveals that LTC/BTC is in consolidation while trading inside a falling wedge. There is 0.007355 as the potential higher low and bounce area.
Stellar Lumens (XLM/BTC)
Just like Ripple, Stellar Lumens stayed in consolidation while many of its large-cap peers mooned. This is good news for those who got left behind because it seems that Stellar Lumens is likely to explode soon.
An examination of the 4H chart shows that XLM/BTC is forming a symmetrical triangle. The market tried breaching the resistance on December 21 as it climbed as high as 0.00003299. However, bottom fishers took the rally as an opportunity to take quick profits.
The good news is that Stellar Lumens appears en route to create another higher low at 0.0000304. Another bullish higher low setup should give the market the bullish momentum it needs to break out of the triangle and take out range resistance of 0.000031.
CyberMiles looked dead a few a days ago. On December 8, 2018 the altcoin breached 0.00000802. However, it managed to recapture the market on December 21 when it broke out of a falling wedge and pumped by almost 25% in one day.
CyberMiles appears to be creating a short-term bottom. We’ll be interested to take on a trade only after it reclaims and retests support of 0.00000802. When it does, CMT/BTC will be a very interesting bottom picking candidate.
There seems to be an exciting week ahead of us as four large-cap altcoins and one promising bottom picking candidate appear ready to make big moves.
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