Hot or Not: $XMR $ZEC $THETA Cryptocurrency Analysis: 10/5/20

Hot or Not: $XMR $DGB $THETA Cryptocurrency Analysis: 10/5/20 –

Bitcoin

Beginning with BTC, the sequential indicator is on a green 1 candle with upward trending momentum. Currently, Bitcoin is in a no-trade zone as we approach strong resistance at $11,000. It is likely the bulls will experience a tentative rejection at $11k, however a flush break above $11k would lead the bulls to a price level of $11.5k with zero resistance.

XMR

Monero has been trending upward since March and has consistently created new highs. We are looking for a breakout above $108 for bullish confirmation. After breaking above the previous swing high, Monero bulls are looking to retest resistance at $120.

ATOM

While ATOM has been in a downtrend since August, the bulls are beginning to create new higher lows as bullish momentum picks back up. Similar to XMR and ZEC, we are looking for a breakout above $5.40 for a potential bullish entry. If the bulls can break prior resistance at $5.60, there will be large potential upside due to a lack of support.

ZEC

Similar to ATOM, ZEC has been in a downtrend since August. However, the bulls are beginning to pick back up again after bottoming on a red 9 on the sequential indicator. Now the bulls are looking to break above resistance at the prior swing high. If price can break above $65, we are looking to enter a long trade with +10% upside potential.

THETA

THETA has had price action similar to stocks such as $PINS and $SNAP. These assets have been continually creating new highs. THETA has been repeatedly creating new highs and higher lows while trending upward. Currently, we’re looking for a long entry with a break above the prior swing high at $0.77.

Conclusion

Bitcoin is experiencing a period of low volatility as the Stock Market continues its bullish surge. While Bitcoin is currently in a ‘no-trade zone’ we see many opportunities in the altcoin market and are looking to buy crypto assets which are currently breaking above prior resistance into new highs.