Coinbase's Next Batch of Altcoins - Current Technical Analysis

Algorand - $ALGO

Cosmos - $ATOM

By evaluating ATOMUSD price action, is quite clear the value of the cryptocurrency is not going through the best time. At the time of writing, Cosmos price is $3.44 USD, while its all-time high was $8.31 USD. Daily PA is showing a strong presence of the bears, with price now forming a descending wedge near a 1D support zone. The $3.02 level is the next demand zone in which traders are focusing their attention, as this is a  historical record low.

Matic Network - $MATIC

MATICUSDT has formed a descending channel in the daily timeframe, with its price action currently rejecting the upper band of the channel. As expected, the price spiked significantly after Coinbase's news, but the bullish momentum lasted only two days. The daily candle has closed as a pin bar in the dynamic resistance, which may be a sign of a downturn ahead. At the time of writing, MATICUSDT is trading at $0.01573 USD.

Decred - $DCR

Decred, the 30th cryptocurrency by market cap, is currently trading at $27.92 against the greenback. DCR delivered an ROI equivalent to 2,828% since its launch, with its all-time high being $139.94$. The daily chart shows that DCR's price action is moving between ranges ($35.31 and $25.83 approximately). As the rest of the coins, the project earned over 27% the hours after the Coinbase announcement, however, gains quickly vanished. PA seems rejected a descending resistance formed since July. DCRUSD is now moving towards the next support at $25.83 if this level gets taken out, then $24.15 is the second zone in the radar.

Harmony - $ONE

Harmony (ONE) is trading at $0.121 against the US Dollar. To the very first investors, the project delivered a 282.84% ROI, with its ATH being $0.0306 USD.  Breaking down the daily chart of ONEUSDT, it's clear that price action has broken the triangle pattern formed since Jun. The area highlighted in yellow is the single area every trader is watching now. If bulls take this level out, the next target is $0.016. On the contrary, if bears enter the game again, the price may easily reach $0.0095 once again.

Ontology - $ONT

Ontology, one of the most requested coins by our members is officially getting listed on Coinbase in the next couple of months. After the announcement, ONTUSD remained neutral, with the PA still trading within a consolidation. At the time of writing, ONT is at $0.905 USD. Daily price action is showing no interest from the bulls in pushing the price higher, in fact, 1D candles are signalling a potential fall to the next support level at $0.76 USD. If this level gets respected, then is a potential entry point for a long.

Waves - $WAVES

WAVESUSD is currently trading at $1.32. Since the end of May, Waves has lost its value significantly, going from $3.31 to $1.32. Price action has also formed a descending channel, with the overall trend being a mirror of the altcoin market in the last couple of days. WAVESUSD is now consolidated above a key support zone. If this level does not hold, then the next demand zone is substantially far ($0.028 approximately).

Dash - $DASH

Dash, ranked 15th in CoinMarketCap, is one of the more familiar tokens joining the Coinbase Club. With over $942M USD supporting the project, DASH has extended its supportive community all around the world, but haven't been able to maintain its value in the altcoin market. DASHUSD is 51% down since July. During the last couple of days, a triangle formation has formed just around a key support zone at $104.58. If bears break the triangle to the downside, the next level to be retested will be the $86.39 demand zone.