Weekly Research – 1 June 2020

June 01, 2020

Market Analysis

Cryptocurrency Index, after hitting lowest in March, has increased continuously and hit the 20-day highest value. We might consider this indicator as Donchain Channel. Despite hitting a resistance at 270 (looking from Volume Profile), the index still looked strong.

Our recommendation is to accumulatively BUY your interested coins. However, investors must consider each coin at it own merit as well.

Total Crypto Market Capitalization

Market Capitalization – Excluding BTC

Cryptocurrency Index Excluding BTC, after hitting lowest in March, has increased continuously and reached the 20-day highest value. In addition, the index went over resistance at 90, leading by outperforming ETH.

Our recommendation is to accumulatively BUY underperforming coins or those that show accumulative signal. Investors may look for such signal in Zipmex analysis in the following page

Total Crypto Market Cap Ex – BTC

Selected Price Change

ZipmexNameMarket CapPriceVolume ( 24H )Circulating SupplyChange (24H)
1Bitcoin$176,388,246,901$9,591,46$32,987,347,77718,390,131 BTC1,46%
2Ethereum$26,335,791,694$236,94$15,412,621,847111,150,149 ETH5,64%
3XRP$8,968,683,885$0,20$1,675,182,65644,112,853,111 XRP2,39%
4Tether$8,805,227,778$1,00$41,097,833,6588,798,069,379 USDT0,18%
5Bitcoin Cash$4,451,541,248,362$246,52$4,033,695,00418,421,781 BCH3,13%
6Bitcoin SV$3,627,555,289$196,93$2,165,871,41318,420,515 BSV3,56%
7Litecoin$3,013,108,886$46,46$2,852,256,05664,850,498 LTC2,71%
8Binance Coin$2,734,338,378$17,58$336,805,387155,536,713 BNC2,60%
9EOS$2,526,862,669$2,71$2,278,282,077933,080,912 EOS2,68%
10Tezos$2,037,040,490$2,86$119,743,529712,330,570 XYZ-0,67%
TECHNICAL-SIGNAL-RADING

Bitcoin Technical Analysis

Recommendation

Bitcoin

BTC price is on the rise after uncertainties from Covid-19. After seeing 50% price increase from its lowest point, we believe BTC’s low-to-high movement frame is $1,300 or 13% per zone, which is a frame to execute Swing Trade.

Because the price has moved up through many zones, we recommend 2 strategies with cautions:

  1. Buy on dip
  2. Follow Buy when price breaks the Trendline or RSI Breakout Trendline.

Because of the fluctuation, please be disciplined about your Stop Loss point

Etheraum Technical Analysis

Recommendation

Etheraum

ETH is strong and hotter than other top 10 largest market cap assets. ETH price has increased more than 150%, because of Covid-19, and moved for 4 zones. Each zone width is about $33-34 or 16% of the price.

Currently, ETH has reached a resistance at 250 +-. Therefore, we recommend wait and see for current non-holder.

For those who want to invest in ETH, we recommend buying at the Support, not the market price. Current ETH holders may distributely sell at the high zone.

Litecoin Technical Analysis

Recommendation

Litecoin

Litecoin narrowly fluctuate, similar to XRP, around 40-50 for months. This makes ADX indication value continuously stays below 20, leading to a belief that there might be significant movement soon (up or down). The difference between Litecoin and XRP is that Litecoin has so much resistance, looking from Volume Profile. The resistance might be from the high number of holder at a high price, and those are ready to cash out any time.

We view this as a time to cumulatively buy or follow buy once the price breakout through the resistance

Ripple Technical Analysis

Recommendation

Ripple

XRP swings in a narrow frame (Sideway) with Accumulation Phase property. According to technical analysis techniques, this phase would be followed with public participation and distribution. An indication of Accumulation Phase is the formation of average capital and RSI momentum divergence

Our belief is that, according to the fundamental of coins, we can accumulatively buy at this zone or wait to Follow Buy when price breakout through the Resistance

Bitcoin Cash Technical Analysis

Recommendation

Bitcoin Cash

BCH swings in a very wide range, between 240 – 270. The resistance is substantial, looking from the Volume Profiles, which means BCH holders are ready to sell once the price moves up.

Our opinion is that the historical data tells RR ratio isn’t high, which makes Stop Loss price far from the current. We recommend buying this at a small portion than other assets, in order to diversify risks

DISCLAIMER

This report is not an offer or solicitation of an offer to buy or sell any cryptocurrencies, digital assets, security or derivative instrument, or to make any investment. Any opinion or estimate constitutes the preparer’s best judgment as of the date of preparation, and is subject to change without notice. Zipmex assumes no obligation to maintain or update this report based on subsequent information and events. Zipmex, and its respective officers, directors, and employees, may have long or short positions in, or may buy or sell any of the securities, derivative instruments or other investments mentioned or described herein, either as agent or as principal for their own account. This material is provided solely for informational purposes and is not tailored to any recipient, and is not based on, and does not take into account, the particular investment objectives, portfolio holdings, strategy, financial situation, or needs of any recipient. As such, any advice or recommendation in this report may not be suitable for a particular recipient. Zipmex assumes recipients of this report are capable of evaluating the information contained herein and of exercising independent judgment. A recipient of this report should not make any investment decision without first considering whether any advice or recommendation in this report is suitable for the recipient based on the recipient’s particular circumstances and, if appropriate or otherwise needed, seeking professional advice, including tax advice. Zipmex does not perform any suitability or other analysis to check whether an investment decision made by the recipient based on this report is consistent with a recipient’s investment objectives, portfolio holdings, strategy, financial situation, or needs

We offer investors a variety of opportunities in the digital assets industry. Our innovative platform provides financial access for anyone seeking investment returns anywhere, anytime. Our ecosystem aims at making finance an everyday enriching activity.