• gertvanlagen

$NANO, $MINA, $XCAD, $UBX, $ATOM- 14th draw October challenge

The higher a target, the more likely a lower target will be the cycle top. Highest targets are deemed possible when the total market capitalization grows to 10T EOY '21.

--> challenge dashboard


$NANO - Nano

This project has been around since 2017. Early investors have made huge profits and the token is since 2020 in a uptrend. To prove it's not a bear flag, the previous ATH needs to be broken, what I doubt it will have the momentum to.


Target: $40 if key resistance gets broken


Key support to hold: $3.3

Key resistance to break: $6-14

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.


 

$MINA - Mina

Due to its tokenomics $MINA has an effective inflation rate of about 300% a year and no maximum supply. It's an impressive zero-knowledge protocol which has partnered with the Ethereum foundation, but this excessive supply has a major impact on price action.


Since its start in June this year, price has only be falling. Currently a bear flag is observed and price got rejected at the key resistance between $6 and $10. If the bull run of bitcoin continues until the end of the year, I cannot guarantee that this resistance won't be broken on a second attempt, after which $20 and $45 are the next targets. In that case the cup and handle pattern that is clearly observable plays out.


Key resistance to break: $6-10

Key support to hold: $4

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.


 

$XCAD - XCAD Network

It's better to stay away from coins with such a low market cap, because there are lots of uncertainties. Always diversify with larger cap (trust) projects.


This coin has a very low market cap (50 M) so if it is a solid project it has enormous price potential. However the circulating supply is a fraction of the maximum supply, so I am wondering how the vesting schedule of this token looks like. If it's too aggressive, the market cap can grow without price appreciation. On the chart a huge bull flag structure is visible with a target at ~$15. If you know more about this project, feel free to enlighten me in the comment section, I'm especially interested in the vesting schedule. For now it's a red cross for me.


Key support to hold: $1

Key resistance to break: $5

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.


 

$UBX - UBIX.Network

It's better to stay away from coins with such a low market cap, because there are lots of uncertainties. Always diversify with larger cap (trust) projects.


The Kucoin chart shows that the coin is consolidating and failed to pierce through the resistance zone $0.0007-0.0012.


Key support to hold: $0.0004

Key resistance to break: $0.0006-0.0013

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.


 

$ATOM - Cosmos

Solid project. Only drawback is that it does not have a maximum supply


Elliott wave targets:

  • $56 2 extension bear market and 1.618 extension 3-4 countertrend wave;

  • $190 2.618 extension bear market and 2.618 extension 3-4 countertrend wave;

Key support to hold: $26.4

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.





DISCLAIMER: The targets that I identify are based on Technical Analysis and are by no means guarantees that these will be met. You can use (intermediate) targets to build your trading strategy to determine which price targets are strong take profit or stop loss levels. Always do your own research and don't blame me for your own trading decisions.
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