Trading Room Logo
  • Blog
    Sign in
    Trading Room Logo
    Trading Room Logo
    • Blog

    Tag: Price Discovery

    The State of the Alts – 03-31-22

    The Global View Top Left: Bitcoin Dominance – Daily Top Right: Altcoin Index – Daily Bottom Left: Midcap Index – Daily Bottom Right: Shitcoin Index…

    Chingas X April 1, 2022
    0 Comments

    Fantom of the Opera Blockchain

    What is Fantom? Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.…

    Chingas X January 14, 2022
    0 Comments

    Keep Your Eyes on this ONE

    ONE Break and Close above local 786 ONE has continued its course.  We recently wrote about one back on January 3rd.  At that time ONE…

    Chingas X January 13, 2022
    0 Comments

    ROSE and NEAR – What’s the play?

    The Last Few Days Could Be Just The Start Today we are going to revisit two coins that we have featured before as they are…

    Chingas X January 12, 2022
    0 Comments

    Let’s Talk About LINK

    What is LINK? LINK was founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to…

    Chingas X January 11, 2022
    1 Comment

    All about ATOM

    What is ATOM? In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims…

    Chingas X January 7, 2022
    0 Comments

    All about RAVENCOIN

    What is Ravencoin? Ravencoin is a digital peer-to-peer (P2P) network that aims to implement a use case specific blockchain, designed to efficiently handle one specific…

    Chingas X January 4, 2022
    0 Comments

    DUSK has hit its mark

    Only two weeks ago DUSK was $0.61 October 16th we had a spotlight on DUSK.  You can read about it HERE.  Yesterday, in one candle,…

    Chingas X December 30, 2021
    0 Comments

    ETH New ATH – Confluence around $6k

    ETH Leading the Charge! ETH is not in the business of slowing down at the moment!  ETH made a new ATH yesterday and then as…

    Chingas X November 3, 2021
    0 Comments

    Recent Posts

    • Weekly Recap – 03-19-23
      March 20, 2023
    • Weekly Recap – 03-12-23
      March 13, 2023
    • Weekly Recap – 03-05-23
      March 6, 2023
    • Weekly Recap – 02-26-23
      February 27, 2023
    • The State of the Alts – 02-23-23
      February 24, 2023
    CATEGORIES
    • AltCoins
    • Analysis
    • Bitcoin
    • Chart Patterns
    • CME Futures
    • Coin Research
    • ETF
    • Ethereum
    • General
    • Market Collapse
    • NFT
    • Price Discovery
    • The Daily Dose

    Groups

    Newest | Active | Popular
    • Group logo of The Daily Dose
      The Daily Dose
      active 4 days ago
    • Group logo of Forex Signals
      Forex Signals
      active 4 months ago
    • Group logo of Day Traders
      Day Traders
      active a year ago
    See all
    © 2023 - Trading Room
    The State of the Alts - 03-31-22

    Forum Description

    The Global View

    Top Left: Bitcoin Dominance - Daily Top Right: Altcoin Index - Daily Bottom Left: Midcap Index - Daily Bottom Right: Shitcoin Index - Daily Above we can see a snapshot of the entire Crypto market broken down into four very specific charts.  The overall Bitcoin Dominance chart shows you how much of the total market cap belongs to Bitcoin and therefore it also tells you how much of the market belongs to Altcoins. Another Wild Week in the markets and this time for some actual gains!  Alt and Mids found there 200 EMA and responded perfectly - with resistance.  However - the leader of the pack - drum roll please...........The Shitcoins!  All of this while Bitcoin actually made some decent gains and broke $46K.  Today of course looks more like a retest down to $44,600 but that can be considered healthy in an uptrend.  Let's Go!

    Altcoin Index

    Description : Each asset in the Altcoin Index is weighted the same.  This gives a good look at a basket of higher profile and higher MCAP coins.  Altcoins or often called, the Majors, saw some aggressive and respectable price action over the course of the last week.  Most of them are down because of the action today but even with todays losses we still have most in the green over the last 7 days of trading.  Resistance came from the 200 EMA as we talked about so there is no surprise there.  We look for a pullback to the 20 or previous support and then the real test comes in.  Do we break the 200 or do we fail and call it a day?

    Midcap Index

    Description : This is the playground for most traders.  It's widely excepted that the top tier Crypto have already made most of their explosive moves but that is not the case in the land of the Mids.  The Mids make a wide variety of projects from L1's like Algorand to ad seeking marketing like BAT. Mids are so similar in action to Alts that there isn't much to discuss here.  Nearly the same exact action on the Mids as we saw on Alts.  A push to the 200 EMA, 4 times took resistance at the 200 and then large downward action wiping away the previous 3 days of gains.  Again, we look for support near the 20 or previous horizontal support and then we wait to see if we get a push through the 200 or another failure.

    Shitcoin Index

    Description : What market in the world can you label a basket of assets and call them SHIT?  Only Crypto baby!  The SHITperp is your view through the window of our beloved Shitcoins.  These represent 50 coins that have relatively low market cap but still have stand out projects.  Coins like MANA, in and of itself is actually a great project with a bright future but its market cap deems it as Shit.  THETA, CHZ, ENJ, HBAR, ZEN, etc.  These projects are actually good projects with good fundamentals, so they skew the balance sheet a bit because these are not exactly the Shitcoins that some other people talk about when they talk about Shitcoins! There is something that is just funny about Shitcoins.  They always make me laugh.  Because Shitcoins notoriously have smaller markets and less liquidity, they are the easiest to pump.  ZIL had a 75% Daily candle the other day.  WAVES had a 100% move over the course of a few days.  The good news is that it all starts here - like a cycle.  Pump the Shitcoins, make some profit and move to the midcaps.  Pump the midcaps, make some profits and move to the Majors.  At that point, the retail investors either follow and we have a run or they don't and we sell off to new yearly lows.  Either way, it's exciting.

    Weekly Movers

    Some good ol fashioned classics making some moves this week.  ZIL, GTO, VTHO, WAVES, DGB, CELR, XVG, MITH and VET.  If you have been in this space a little while, you will recognize these culprits.  Now, trading these guys are much different then trading BTC, ETH or BNB but they can be traded nonetheless.  Care should be taken of course.  We mentioned WAVES two weeks ago and that made some killer moves.  AVAX also had a solid run of about 25% to $100.  We look forward to seeing how the market shakes out after todays price action with Bitcoin.

    What to Watch

    We are back to focusing on WAVES this week.  Let's take a look. WAVES/USDT: WAVES is very interesting right now.  After a 265 day - 82% drop - WAVES was able find support.  About $9 was the area that propped price up from January to March and then things got a little heated up.  After the breakout of the long downtrend, WAVES went on to retest it's local high from May which was indeed it's ATH.  Without any major resistance, WAVES went on to push it's 1.618 Fib extension and was met with resistance. Now, as dramatic as it may seem, we are looking to a 38.2 or a 50% retracement from the new ATH.  This would give time for WAVES to cool down and let traders take profits.  If this happens, being that this was already a very good run, we look for continuation in the uptrend.  Levels for Support look to be $42 and $36.  We will have a close eye on these levels over the next days/weeks.

    The Wrap Up

    There is a chance that we are beginning a reversal here Market Wide.  That would be welcomed amongst everyone in the Crypto communities.  It starts with a few outliers and then when no one is looking - everything starts breaking local levels and they all start flipping resistance into support.  Be very aware of what is happening over the next few weeks as there may be a lot of opportunities knocking at the door. The other things to remember is there will be a lot of fakeouts.  Coins that try to pump but fail and turn into a bad trade over and over again.  Not everything will get a good move unless we actually enter a new Bull Run - for now - be very selective. If you enjoyed this article, consider sharing with friends on Social Media. Lets grow the Community together!
    en English
    af Afrikaanssq Shqipam አማርኛar العربيةhy Հայերենaz Azərbaycan dilieu Euskarabe Беларуская моваbn বাংলাbs Bosanskibg Българскиca Catalàceb Cebuanony Chichewazh-CN 简体中文zh-TW 繁體中文co Corsuhr Hrvatskics Čeština‎da Dansknl Nederlandsen Englisheo Esperantoet Eestitl Filipinofi Suomifr Françaisfy Fryskgl Galegoka ქართულიde Deutschel Ελληνικάgu ગુજરાતીht Kreyol ayisyenha Harshen Hausahaw Ōlelo Hawaiʻiiw עִבְרִיתhi हिन्दीhmn Hmonghu Magyaris Íslenskaig Igboid Bahasa Indonesiaga Gaeligeit Italianoja 日本語jw Basa Jawakn ಕನ್ನಡkk Қазақ тіліkm ភាសាខ្មែរko 한국어ku كوردی‎ky Кыргызчаlo ພາສາລາວla Latinlv Latviešu valodalt Lietuvių kalbalb Lëtzebuergeschmk Македонски јазикmg Malagasyms Bahasa Melayuml മലയാളംmt Maltesemi Te Reo Māorimr मराठीmn Монголmy ဗမာစာne नेपालीno Norsk bokmålps پښتوfa فارسیpl Polskipt Portuguêspa ਪੰਜਾਬੀro Românăru Русскийsm Samoangd Gàidhligsr Српски језикst Sesothosn Shonasd سنڌيsi සිංහලsk Slovenčinasl Slovenščinaso Afsoomaalies Españolsu Basa Sundasw Kiswahilisv Svenskatg Тоҷикӣta தமிழ்te తెలుగుth ไทยtr Türkçeuk Українськаur اردوuz O‘zbekchavi Tiếng Việtcy Cymraegxh isiXhosayi יידישyo Yorùbázu Zulu

    Report

    There was a problem reporting this post.

    Harassment or bullying behavior
    Contains mature or sensitive content
    Contains misleading or false information
    Contains abusive or derogatory content
    Contains spam, fake content or potential malware

    Block Member?

    Please confirm you want to block this member.

    You will no longer be able to:

    • See blocked member's posts
    • Mention this member in posts
    • Invite this member to groups
    • Message this member
    • Add this member as a connection

    Please note: This action will also remove this member from your connections and send a report to the site admin. Please allow a few minutes for this process to complete.

    Report

    You have already reported this .
    Clear Clear All