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 was a bearish week for many established altcoins, with a few upstarts moving up in leaps and bounds.
Last Weeks Predictions – 1/3
All Time Predictoins – 4/7
Icon – ICX (~0.01 ETH)
Icon was projected to trade around the 0.01 ETH mark this week, but the coin never broke a high of 0.0093 ETH. For the forseeable future it looks like it will trade around 0.0085 ETH, +/- 0.001 ETH. Mainnetet is still to officially launch, so be prepared for some rapid movement one way or the other as a consensus on its effectiveness is formed.
ELF (~0.015 ETH)
The ELF coin was expected to trade around 0.015 for the week. Althought ELF receded on the final two days of the week, it was trading at an 80% gain on Thursday. However, this run does not come with a lot of support, so be wary for now.
EOS (~0.007 ETH)
EOS reversed its sharp pull back from last week, and piled on the gains mid-week trading as high as 0.014. This short term run comes with some promising signals, however the all time high of EOS is the 0.015 ETH mark and it could face some resistance there.
Projected Weekly Gainers
Stellar Lumens – XLM (0.0006 ETH)
Stellar Lumens continues to gain traction, both in its price appreciation and its practical applications as more businesses turn to blockchain backed payments. Expect this token to at least break this mark this week. Its long term prospects look good as well, so don’t be afraid to hold.
Ripple – XRP (0.00175 ETH)
Ripple is trading near its previous low before the last surge to the 0.003 ETH mark. Don’t expect as much exuberance this time round, but one of the most widely accepted tokens looks to at least be headed in a steady upward direction again.
Projected Weekly Losers
Tron – TRX (~0.00005 ETH)
Tron is a token that has a lot of expectations and hype built around it, but with very little actual product to show so far. While this token is expected to be very sought after in the long run, the fact that so little production has been shown means decreasing market confidence. Expect the token to continue its recent slow decline, and only turn around once a production notice is released, rather than yet another new partnership.
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.
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