This week the crypto market got corrected to a great extent. The price action has been moving in the framework of a negative scenario and a lot can happen now before the next wave of decline. Bitcoin was hit by a dramatic plunge, wiping a fifth off its value on Tuesday. The same rapid drop hit the entire cryptocurrency market, with around 20% being wiped off all of the biggest digital currencies. The price of bitcoin and other cryptocurrencies now appears to correct upwards – but considerable value was lost within minutes in the dramatic crash. Let’s dive right into this week’s Trader’s Digest.
What to buy?
Huobi Token (HT)
Huobi Token has gained 4.87% in the past 24 hours. The token has a circulation of 95096 BTC and the price has been rising upwards steadily. HT has an ROI of 113.82% since its launch and the weekly chart is showing signs of bullish momentum.
NEO (NEO)
NEO, formerly Antshares, aims to build a ‘smart economy’ by incorporating digital assets, digital identities, and smart contracts. NEO has gained 4.71% in the past 24 hours and it has an ROI of 4041.54%. NEO is currently trading at $7.52 and ranks 21 based on market capitalization. Based on 20-day SMA, NEO is currently in the buying zone.
USD Coin (USDC)
USD Coin is currently trading at $1.01 and has gained 0.18% in the past 24 hours. USDC is a fully collateralized US dollar stablecoin. It is an Ethereum powered coin and is the brainchild of CENTRE, an open source project bootstrapped by contributions from Circle and Coinbase. With Ethereum’s price going up, USDC is bound to gain momentum and correct upwards in the coming week.
What to HODL?
Ethereum (ETH)
Ethereum has followed our prediction from last week and the leading altcoin has started moving within the bullish range. On the weekly chart, Ethereum keeps moving within the ascending channel, however, the further rise might be stopped due to the declining trading volume. In this case, ETH might come back to the nearest support zone at 0.01950 BTC soon. It is best to wait and watch before buying or selling this further.
Stellar (XLM)
Stellar is currently trading at $0.06 and has gained 3.5% in the past 24 hours. However, the daily and weekly chart continues to show signs of slowing down and it is best to watch before the leading altcoin makes any further moves.
What to sell?
Zilliqa (ZIL)
ZIL is currently trading at $0.0057 and it has gained 18% in the past 24 hours. This is well within the selling range and the price may correct within the next 12 hours. It is recommended that traders book their trailing profits as the price continues ascending.
Theta (THETA)
Theta is currently trading at the $0.092 level and it ranks 57 based on market capitalization. THETA has gained 8.49% in the past 24 hours. THETA has an overall ROI of negative 39.85%.
What are you buying, holding or selling this week? Let us know in comments. We’d love to hear from you.
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