It’s been a rather uneventful week for the majority of the crypto market, while a handful of altcoins saw massive gains. CRO climbed by more than 200% after being listed on a number of top exchanges and XZC followed suit by climbing just over 100% after announcing it was added to the Polis MasterCard.
As we look forward, the crypto analyst once called “permabear” who correctly predicted Bitcoin’s fall from $10,000 down to $3,000 has said that Bitcoin is now on its way to $150,000. NANO is giving off signals that the bulls are lining up and waiting to get the token out of the current negative rut that it’s stuck in. Finally, we will explore XLM as it looks set for bumper gains as well as claims over insider trading of the token at Coinbase.
Bitcoin Heading to $150,000
Everyone’s favorite crypto-analyst – MagicPoopCannon (MPC) was given the nickname “permabear” after he said 2018 was going to be a sad year for Bitcoin as it fell from $10,000 down to $3,000. He successfully predicted the fall every step of the way, but now MPC feels it’s ready to bounce back into action and steadily climb to $150,000 by August 2021 – Sorry McAfee, you still have to eat your dick on TV.
Before Bitcoin gets on its way back to a potential new all-time high, it’s going to make one last stop down at around $3,000. MPC believes that this will happen in the next few months, so start stocking up on Bitcoin. After it hits these fresh lows, it will begin its slow journey upwards.
NANO Finding its Feet
NANO has been stuck in a negative trend over the last few months – much like the rest of the crypto market – but the bulls look like they are back in town and preparing for a huge move. Over the last couple of weeks, NANO has been testing 2,600 sats, but failing to break it every time. As it falls back down to around 2,000 sats, the buyers pick back up and push it to 2,600 again – hinting that the support is there. If 2,600 manages to be broken, we could likely see NANO explode and potentially reach 6,000 sats or more.
Conversely, if the buyers simply get fed up on getting stuck at 2,600, we could see it fall much lower and crash past 1,500 sats – continuing to trade lower for a significant amount of time. If NANO does break down and fall below its current wedge, it will fall into a much lower wedge, and no NANO holder is going to like what that has in store.
BitStarz News is recommending a max buy target of 2,600 and sell targets of 3,000, 3,300, 4,000, and finally at 6,000. Depending on your appetite for risk, it would be wise to set up a stop loss order around the 2,200 mark in case things decide to take a negative turn and NANO falls out of its current wedge.
XLM is a Rising Phoenix
XLM hasn’t had an easy go of things lately, falling from $0.30 down to $0.10 in just a matter of weeks. However, the 100-day CCI has finally turned positive and the 50-day VWMA is now showing a positive slope. There has been great levels of trade volume on the positive side over the last few days and the price has crossed the 50-day VWMA – something we haven’t seen in five months.
Charts are showing all the signs of some classic insider trading over at Coinbase, and it wouldn’t be the first time we have seen this happen. Three weeks ago we saw the same thing happen with XRP, large buy volumes before any news was announced, then a small selloff just after the Coinbase listing was announced. We will see a slight selloff of XLM in the coming days as insiders take their profits, but XLM looks set to carry on upwards.
We aren’t expecting XLM to head back to $0.30 any time soon, but the technical analysis indicates that the increased sentiment with the Coinbase listing and several huge projects launching on the network is likely to drive investor confidence and the price up to around $0.20 over the coming weeks.
To The Moon?
As always, keep your eyes peeled on the charts for the latest signs of any breakouts, and never be the last one holding a token at the top of a pump. Let’s hope MagicPoopCannon is right and we see Bitcoin head to $150,000 by August 2021!