Analysis Rising Cryptocurrency Analysis: Steem,Stratis, Siacoin, Factom, Lisk

Stratis crossed the $1 billion market value recently, racing to the 7^th place of the market cap list according to Coinmarketcap. If you recall it wasn’t long ago, that Ethereum crossed this mark (earlier this year), and now it is north of $25 billion. The coin has been consolidating since last week’s extraordinary rise, as we expected after running into resistance near 0.0045 on the Bitcoin pair. While the coin is not on a buy signal as of now, it should on traders’ watchlists, as a move out of the short-term pattern could trigger another leg higher in both the BTC and the USD pairas we expected after running into resistanc near 0.0045 on the Bitcoin pair. While the coin is not on a buy signal as of now, it should on traders’ watchlists, as a move out of the short-term pattern could trigger another leg higher in both the BTC and the USD pair

Steem

Steem/BTC, 4-Hour Chart Analysis

Steem is also right near the top 10 of the capitalization list following the break-out of a month-long consolidation just a few days ago. The coin surged above the prior high at 0.00075, and got close to 0.001 before entering a short-term correction. That said, Steem remains on a buy signal on the BTC pair, above the prior high. Although this is probably not the best point to enter an investment position, short-term traders could still ride the wave higher, despite the overbought readings on the MACD.

Siacoin is getting close to a possible entry point near the May highs on the BTC pair. Just above the 0.0000053 level, as the current short-trm consolidation pattern carried the coin back to the strong support/resistance zone. The MACD is approaching neutral territory, and although further consolidation is possible, a move out of the correction could set a up a rally towards the prior highs and above that to the 0.00000875 level.

Factom ran into resistance just above the 0.012 level yesterday, and it is now probably headed back to test the prior high just below the 0.010 level on the BTC pair. There is a convergence zone with the rising short-term trendline near that zone, which could provide a good entry point for short-term traders. The coin recently broke-out from a lengthy consolidation zone, which could serve as a base for further gains in the coming weeks.

Lisk exploded above its prior high this week, and quickly reached the 100% Fibonacci-extension resistance. The coin pulled-back off that level, but remains well above the 0.00075 break-out level, while it’s trying to establish a swing low. We expect more consolidation before a break-out above 0.0012, but as a support zone is likely to develop near the 0.00085 Fibonacci level, short-term traders could consider new positions in anticipation  of a break-out.