Disclosure: This article is for information purposes only and should not be considered as investment or tax advice. The author does not endorse any of the products discussed.
It’s been a pretty typical week for many altcoins. Let’s review last weeks winners and losers before diving in to what we can expect to see next week!
Last Weeks Predictions – 3/4
VeChain – VEN (~0.005 ETH)
We expected VEN to end last week around 0.005 ETH and closed at 0.0044 ETH having traded as high as 0.0062 ETH mid week.
Ethereum Classic – ETC (0.035-0.04 ETH)
ETC has not closed a day at our predicted range, but it did breach it on the last two days. The coin looks about to post its fourth consecutive days of small gains as well maintaining a bullish look.
Ripple – XRP (0.0015-0.00175 ETH)
Ripple’s XRP continued its slide as predicted, but to an even lower range. One day of high volume trading did see the token hit 0.0022 ETH, but quickly fall back. If 0.00125 ETH remains as a resistance line, we may see a bounce back this week.
Poet Project – POE (~0.00011 ETH)
POE also reacted as expected closing the week at 0.00087 ETH. There is not much signalling a turn around yet, except for the coin flirting with the oversold portion of a RSI chart.
Projected Weekly Gainers
Icon – ICX (~0.01 ETH)
Icons Mainnet is set to officially launch on January 24, and whether it is successful or not the coin should see a price appreciation. Based on Mainnet’s success ICX could see continued appreciation or a quick reaction backwards, but either of those moves will require the public’s access to Mainnet.
ELF (~0.0015 ETH)
This coin was formed as a result of a private ICO, which has positives and negatives. It is still relatively new to exchanges and doesn’t have a long price history, however it does show some technical signs that it will reverse its current downtrend soon.
Projected Weekly Losers
EOS (~0.007 ETH)
The EOS token experienced a run up to close out last week, but it does not look sustainable. Except the coin to slip back to around its 0.007 ETH mark barring any major news announcements.
On a whole, the alt coin market may jump as ETH cools off its bull run. However, the trend is normally that the run will switch to BTC.
These are some of the tokens to keep an eye on this week. As always, perform your own research and never invest what you are not prepared to lose.
Not interested in Alt Coins? Check out our Weekly Roundup for insight on Bitcoin, Ethereum and Litecoin.
Subscribe to our email list on the sidebar so you don’t miss a beat!