Two days ago, we published an article revealing that alt season may be on the horizon. On the very same day, a number of micro-cap alts including Ravencoin (RVN/BTC) began to fly. We took an in-depth look at other altcoins with relatively small market capitalization and we’ve come to the conclusion that this season is different.
Last year, the cycle began with big moves from large caps such as Ethereum, Ripple, and Monero and ended with small alts playing catch up. This year, it appears that the pattern has been reversed, as we see mico-cap altcoins skyrocketing in the last few days. In this article, we reveal the five altcoins showing that alt season is in full swing.
1. Ambrosus/Bitcoin (AMB/BTC)
AMB/BTC is currently up by almost 100% from its low of 0.00001572 on August 15. Someone who invested at the bottom would probably be happy with these gains. However, alt season has been known historically to generate returns that are over 10 times of the initial investment.
In the case of AMB/BTC, it looks like the party is just getting started. The market is struggling to breach resistance number 1 (R1) while trading in overbought territory. However, when it does take out R1, Ambrosus has a clear path to R2. If it goes above R2, then the next target is R3. Wash, rinse, and repeat until Ambrosus takes out R5 or the last resistance. After that, the sky’s the limit for this market.
Mapped out resistance levels of AMB/BTC
There’s no certainty as to the number of resistances that AMB/BTC might take out. Nevertheless, you can use these levels to help guide your trades.
2. Mainframe/Bitcoin (MFT/BTC)
MFT/BTC is up by almost 120% from its low of 0.00000066 on August 14. Just like AMB/BTC, Mainframe looks like it is just getting started. The market just broke out from an ascending triangle pattern, which is why it is consolidating at support number one (S1). Once consolidation is over, it will likely make its way to R1.
Daily chart of MFT/BTC
It’s likely that MFT can go all the way to up R3 because R1 and R2 are soft resistances. Nevertheless, be sure to use proper stops when trading small cap altcoins.
3. Stellite/Bitcoin (XTL/BTC)
XTL/BTC has grown by over 600% from its low of 0.00000002 on August 25. There’s no denying that Stellite has entered a parabolic state. While we believe that there’s still gas left in the tank, the market is in extreme overbought territory. It needs to significantly correct before it can make its next move up.
Daily chart of MFT/BTC
4. DOCK/Bitcoin (DOCK/BTC)
DOCK/Bitcoin has increased by more than 130% from its bottom of 0.0000019 on August 14. These gains were realized after the pair broke out of an ascending triangle pattern. The market is currently consolidating just under R1. Things may start to go insane for DOCK after it takes out this resistance. When it does, R2 and R3 should be easy targets.
Daily chart of DOCK/BTC
5. Haven Protocol/Bitcoin (XHV/BTC)
Haven Protocol is up by almost 185% from its low of 0.0001371 on October 12. Looking at the 4-hour chart, XHV/BTC is currently consolidating after breaking out from a cup and handle reversal pattern. After consolidation, we expect XHV/BTC to take out R1 and resume its uptrend. From then on, it’s all blue skies for the market. There’s no telling how high Haven Protocol can get.
4H chart of XHV/BTC
Alt season is in full swing. These five micro-cap coins are just the tip of the iceberg. More and more altcoins are igniting massive bull runs.