3 Promising Crypto Project From Top 200 That Can Soon Enter Top 100 on Coinmarketcap
3 Promising Crypto Project From Top 200 That Can Soon Enter Top 100 on Coinmarketcap

By paulOf91 | AltcoinFreak | 9 Jul 2019

$3.86 tipped


Yes yes, Bitcoin is once again booming - great! Looking good. However, whilst everyone starts to worry about their altcoin collection going through the chopping machines here are 3 promising projects that I think have the potential to reach the top 100 projects in the coming months! 

With Bitcoin rising, altcoins are dumping, presenting perfect buying opportunities - especially for these small market cap coins that have a great team and product behind them. Once Bitcoin starts to stall and slow down - it will be altcoin season which will allow all of these altcoins to start pumping again - betcha can't wait eh!?

I will take a look at the markets for these projects and highlight some strong areas of support and resistance moving forward.

Okay, let’s get this show on the road with the first project!

 

Power Ledger 

This Australian based cryptocurrency project, Power Ledger,  plans to revolutionize the entire energy industry by enabling local areas to sell and distribute solar power to their neighbours. Imagine that? Being able to collect and store solar power to then go and sell it onto people in your neighbourhood for profit!

Power Ledger is currently ranked in the 136th position in the market cap rankings with a $42 million market cap value. The cryptocurrency has suffered over the past 30 days - dropping by a total of 14% to reach where it currently trades around $0.103.


What Has The Market Been Upto?

We can see that Power Ledger has been trapped within a range between $0.13 and $0.10 over the past 3 months or so. We can see that the market is strongly supported at the $0.1011 level, however, the coin cannot seem to make any movement above the resistance at $0.13 - provided by a long term bearish .618 Fibonacci Retracement level.

 

Where Can We Go Now?

IF the support at the $0.10 level can hold and the cryptocurrency can rebound, we can expect immediate resistance above to be located at the $0.13 level. Above $0.13, higher resistance then lies at $0.14 and then at the bearish .786 Fibonacci Retracement level (drawn in red) priced at $0.1468.

Alternatively, if the sellers drop the coin beneath the support at $0.10 we can then expect further support below at $0.089 and $0.081.

Power Ledger has recently partnered with Clearway to develop a platform to trade Renewable Energy Certificates in the United States. Electricity providers in the US have to supply a portion of their electricity in renewable energy. The majority of the providers will use RECs to meet their minimum mandatory requirements in providing clean energy. This will certainly act as a boost for Power Ledger!

 

Loom Network

Moving onto the Loom Network, a project that provides a Platform-as-a-Service (PaaS). The main object for the Loom network is to provide developers with an SDK that will help to create large scale dapps and games on Loom. The project is advertised for serious dapp developers as it provides scalability with a focus on the UX layer for the developers to build dapps efficiently.

Loom Network is currently ranked in the 125th position as it presently holds a $48 million market cap value. The cryptocurrency has also struggled over the past 30 days - dropping by a total of 24% to reach the current price around $0.062.




What Has The Market Been Upto?

We can see that Loom has been performing pretty well during 2019, but the market had failed to break above the resistance at the long term bearish .5 Fibonacci Retracement level (drawn in red) priced at $0.0924 during June 2019. This had caused Loom to fall into the current support around the short term .786 Fibonacci Retracement level (drawn in green) priced at $0.06197.

 

Where Can We Go Now?

If the bulls can hold the current level of support and cause Loom to rebound, we can expect immediate resistance above to be located at $0.07 and $0.08. Above this, higher resistance is then expected at the strong resistance at $0.092410. 

IF the bulls can continue to penetrate above the $0.10 level, further higher resistance is then located at $0.10528 - the bearish .786 Fibonacci Retracement level.

Alternatively, if Loom slips below $0.061, further support can be found at $0.060, $0.05780 and $0.05311.

The Loom team had recently hired a firm to audit its PlamaChain. They had hired Trail Of Bits - a company that has previously audit Facebook and Western Digital. All issues uncovered in the audit have been addressed, fixed and tested thoroughly and they have now made their code open source.

Furthermore, Loom had recently released DPoSv3 and integrated Tron into their network of blockchains. For a full roadmap for 2019 check out here.

 

Matic Network - 

Matic is a layer 2 scaling solution that utilizes sidechains for off-chain computation whilst ensuring asset security using the plasma framework. That is a lot to handle! Basically, it is a network that will help off-chain scaling that can already achieve a high throughput of around 10,000 TPS - quite the achievement!

Matic is currently ranked in the 163rd position as it holds a $34.67 million market cap valuation. Matic has been struggling this past month - dropping by a total of 40% to reach a price of around $0.0160.




What Has The Market Been Upto?

Looking at the short term Matic chart above, we can see that the coin has been fairly stable 0 only recently dropping below the $0.02 support level. As the market is relatively young it is difficult to provide solid areas of support and resistance. 

However, if Matic continues to fall, we can expect immediate support below at $0.015 and $0.0145. If the selling continues further lower, more support lies at $0.0113 and $0.01.

Toward the upside, resistance lies at $0.017, $0.020 and $0.022.

Matic will start to heat up slowly in the anticipation for their alpha-mainnet release - scheduled pretty soon!



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