It has been a great week for a number of altcoins, but none more so than Raven and ADA. Raven has been soaring, reaching more than 400% over the course of the month and 35% alone in one week. ADA rose on the back of its v1.5 launch and the end of the Bryon development phase, but it looks like it’s now running out of steam. Crypto markets have been reading relatively flat mostly thanks to the Bitcoin sync effect, both EOS and WTC look set to break this trend and head upwards in the coming weeks.
Is the ADA Party Over?
ADA has been partying hard, rallying to a max of $0.065 earlier this week. However, a recent ascending triangle is giving us the feeling that the ADA party is over and it’s ready to crash back down to earth. The movement and volumes gained from the recent launch of its v1.5 is starting to fade away, and we could see some minor losses here. It fell briefly to $0.055 earlier this week, but we could see it fall even further as time progresses. It would be prudent to set up a stop loss order around the $0.059 mark – depending on where you bought in of course and your risk appetite. ADA looks perfect for the swing traders out there, but a nightmare for holders at the moment. Our advice is set up your stop loss orders and steer clear unless you really know how to swing trade.
EOS on the Path to $6
EOS has had a torrid year so far – like most of the crypto world – but we could be about to witness a rebound for the fifth biggest crypto by market cap. It’s currently trading around the $3.60 mark and we are witnessing large trade volumes, lots of support, and the beginning of a new uptrend. Our target buy zone is anywhere above the $2.17 support level to around $4 for maximum gains.
If the new upward trend carries on, we could see EOS hit around the $7.50 mark by the end of April, but we are more likely to see $6 in the near term. Set up a few sell orders around the $6 mark to take some profits off the table just in case the support falls off.
WTC Going Higher
WTC is one of those highly underrated projects, but its token is starting to pick up momentum and is looking very positive. Over the last few days trade volume has been increasing and we are looking at a new upwards trend. We have witnessed a mini cycle pullback, but if WTC can find a significant pullback it could jump from 3116 sats to around 3700 sats.
Our best advice is to set up a buy order for around 2990 sats in preparation for the large pullback in order to capitalize on maximum gains. However, 3100 sats also isn’t a bad price to pick up some WTC if you like to remain on the safe side. Set up sell orders around the 3600 mark to take some profits off the table and keep your balance in the green.
The weeks ahead in the altcoin world are going to provide us with a mountain of opportunity and there are a lot of profits to be made if you trade wisely. Don’t forget to set up automated orders to cover your back while you’re unavailable to trade – you don’t want to miss out on a golden opportunity.