In this week’s cryto trader digest, we’ve looked at the market charts and watched the trends to see what cryptocurrencies are best to buy, HODL or sell. Crypto markets have seen a small retracement in the past 24 hours with Bitcoin trading closer to the $8400 level. In the meantime, altcoins are still pulling back from their previous gains. Leading exceptions are 0x, Algorand and Chainlink, which gained 3, 10 and 5% over yesterday respectively.
As per a report by Binance Research on analyzing the relative performance of cryptos in Q3, we observe that markets are sliding downwards from their annual high and large market cap coins are doing so in unison. Over the third quarter of 2019, the average correlation between Bitcoin and most other large crypto assets remained in line with the previous quarter, the report notes. However, the average correlation among large crypto assets increased in Q3 2019 with a significant positive increase in the correlations of BNB, ChainLink, and Bitcoin SV with other crypto assets.
Now let’s dive into this week’s crypto digest and analyze the performance of leading crypto assets.
What to Buy?
MaidSafeCoin is currently trading at $0.142 and it is down 4.95% in the past 24 hours. MaidSafeCoin has followed a trend in the past 7 days and every time the coin lost 3-5 % value in 24 hours or less, it rebounded within 5-8 hours. We are expecting the trend to repeat and the ideal buying zone is $0.140 – $0.142. Book profits starting $0.145. That’s a margin of 2% in less than 8 hours.
Matic Network has lost 7.2% of its value in the past 24 hours. The token is currently trading at $0.014 and it has gained 100% in the past 7 days. The coin is witnessing a bull run and while it is on, there is a profit window with the buying zone between $0.147 – $0.153 and selling zone between $0.16 – $0.175. The price will probably hit the sell zone in 12-14 hours.
Algorand is currently in the buying zone and it is trading at $0.252. The buying zone based on the 50-day SMA is $0.232 – $0.255. The selling zone for Algorand is $0.26 onwards. The altcoin has gained 9% in the past 7 days and is expected to ride on the bullish sentiment and hit the $0.27 level this weekend.
What to HODL?
Ethereum is currently trading at $185, based on Vitalik Buterin’s plans for Ethereum 2.0, the altcoin is expected to hit $200 before the end of November 2019. This is the best time for HODLing Ethereum. If traders are looking to book profits, the selling zone is above $190.
Binance Coin’s correlation with other digital assets has increased in the past 12 weeks. The leading altcoin is currently trading at $17 level and the coin is expected to hit $25 by the end of the next 2 weeks based on the 200-day SMA. The coin is currently in the buying zone as well.
What to Sell?
Theta ranks 60th by market capitalization and is currently trading at $0.094. The coin has a market capitalization of 9785 Bitcoin. The coin is in the selling zone between $0.085 – $0.10 according to 50-day SMA and is trading at $0.094. Theta is expected to rise to $0.1 in the next 48 hours based on the trends in the weekly chart.
Zilliqa currently ranks 79th based on market capitalization and it is trading at $0.005. The coin is trading in the selling zone that is above $0.006. ZIL has followed this trend three times in the past 7 days and it hit a high of $0.007 on October 10. If the trend is followed again, the coin will hit the $0.007 level over the weekend.