Hey guys/gals - Here are some Alt-Coin ideas, charts to keep an eye on and study that are either interesting or may be setting up for a nice value entry.
Monday June 4th 6pm
$FUN - Holding higher lows so far, and that is the key for a potential bottom, then reversal. As long as 431 holds there is a good shot for a rally. RSI has cooled off and the drop in price was not reflected as severely in the OBV, which is a positive sign. One note of caution, volume is light so these signals are to be taken cautiously.
$IOST - Short term quite bearish. Harami cross (1) followed by bearish engulfing (2). StochRSI crossing sell signal (3). Watch 484 area for potential double bottom and higher low test. May be setting up for an equilibrium pattern if lower high is broken after some consolidation.
$XLM - the volume cluster (1) is really notable to me, combined with the pinching of the Bollinger bands (2), suggesting we may be getting closer to a bottom and recovery here. Given the volume cluster there is a good possibility we do have a higher low now (3), allowing also for the potential of an Inverse Head and shoulders. (4) Would be the Right shoulder, with the left shoulder yet to form.
Most importantly keep an eye on 3503, as a close below that would invalidate the higher low and trigger a stop loss.
Good luck to all, and please feel free to ask any questions.