Author: Crypto News Guest Authors

Nexo is trading in active uptrend here like many other altcoins are. The Cryptocurrency Nexo just went up +24.5% in a single day and surges over +30.6% in a week.

What is Nexo?

Nexo wants to Build The World’s First Instant Crypto Overdrafts. Powered by Credissimo – A Leading FinTech Group serving millions of people across Europe for over 10 years.

Nexo Quick Stats

Nexo Price Analysis

At the time of writing, Nexo is ranked 75th cryptocurrency globally and the current price is $0.4325 AUD. This is a +30% increase since 23 November 2020 (7 days ago) as shown in the chart below.

Price already increased a little bit after the Nexonomics announcement last week and then Nexo did an awesome breakout from this bearish rectangle by breaking all previous resistances & is now currently trading at $0.4325 AUD price levels.

“The bearish rectangle is a continuation pattern that occurs when a price pauses during a strong downtrend and temporarily bounces between two parallel levels before the trend continues.”

What do the technical indicators say?

The NEXO TradingView indicators (on the 1 day) mainly indicate Nexo as a buy, except the Oscillators which indicate Nexo as a sell.

So Why did NEXO Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up NEXO to their portfolio for the upcoming Altcoins rally. It could also be contributed to some of the recent news where they also announced an improved version of the Earn feature.

Recent Nexo News & Events:

• 05 August 2020 – Staking Deadline
• 15 August 2020 – Dividend Distribution
• 05 August 2020 – AMA

Where to Buy or Trade Nexo?

Nexo has the highest liquidity on Binance Exchange so that would help for trading Nexo/USDT or Nexo/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

While Bitcoin was trading at $26,240 AUD price levels, we saw a mini Altcoins rally following Bitcoin & Ethereum. Unfortunately, BTC crashed before it was going to make a new ATH (All-Time High). This impacts Altcoins every time when a market crashes resulting the Altcoins in a bloodbath.

Where Blockstack STX was holding a tight position & bounced back from its support levels to continue the bullish trend. Let’s take a quick look at STX, price analysis, and possible reasons for the recent bounce back.

What is Blockstack?

Blockstack is a new decentralized internet where users own their data and apps run locally. A browser portal is all that’s needed to get started.

Blockstack Quick Stats

Blockstack Price Analysis

At the time of writing, STX is ranked 75th cryptocurrency globally and the current price is $0.3128 AUD. This is a +6.69% increase since 20 November 2020 (7 days ago) as shown in the chart below.

Blockstack STX moved up recently from its support level and challenged MA200, the black line on the chart. A rejection happened at this level which ended in a higher low. We are now seeing its price recovering, there might also be some additional growth to it.

“MA200 is the 200-day simple moving average (SMA) is considered a key indicator by traders and market analysts for determining overall long-term market trends. The 200-day SMA seems, at times, to serve as an uncanny support level when the price is above the moving average or a resistance level when the price is below it”

What do the Technical indicators say?

The  STX TradingView indicators (on the 1 day) mainly indicate STX as a buy, except the Moving Averages which indicate STX as a strong buy.

So Why did STX Bounced Back?

Blockstack is a solid project with its clear vision, a new decentralized internet where users own their data and apps run locally & the recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent bounce back. It could also be contributed to some of the recent news for upcoming Nigeria: STX 2.0 Mainnet launch today.

Recent Blockstack News & Events:

• 17 November 2020 – STX2.0 Mainnet on Binance
• 18 November 2020 – SAU: STX 2.0 Mainnet AMA
• 24 November 2020 – Vietnam: Stacks 2.0 AMA
• 26 November 2020 –  Nigeria: STX 2.0 Mainnet
• 15 December 2020  –  Stacks 2.0
• 16 December 2020 – Stacks 2.0 Mainnet

Where to Buy or Trade Blockstack STX?

Blockstack has the highest liquidity on Binance Exchange so that would help for trading STX/USDT or STX/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

Horizen ZEN is flipping on a 1-day candle chart, ZEN has grown by a massive 139% in the past week. Let’s take a quick look at ZEN, price analysis, and possible reasons for the recent breakout.

What is Horizen?

Horizen is an inclusive ecosystem where everyone is empowered and rewarded for their contributions. Horizen’s massively scalable platform enables businesses and developers to quickly and affordably create their own public or private blockchains on the largest node network in the industry. Horizen’s Sidechain SDK provides all necessary components for easy and fast deployment of a fully customizable blockchain.

Horizen Quick Stats

Horizen Price Analysis

At the time of writing, ZEN is ranked 85th cryptocurrency globally and the current price is $18.95 AUD. This is a +139% increase since 19 November 2020 (7 days ago) as shown in the chart below.

In the past week, there was a strong rise in Bitcoin, Ethereum, and Ripple. As a result, Horizen ZEN also formed strong support near $6.56 before starting a fresh increase against the AUD.

Here we also have the “W” pattern with a higher low just as looking at it before starting a strong increase, there was a break above a crucial contracting triangle with resistance near $11.65 on the daily chart of the ZEN/AUD. The pair gained pace above the $14.12 and $15.70 resistance levels.

“W pattern is a price pattern, also called Double Bottom. This pattern, when drawn it looks like the W and this is why it is called as W pattern. Sometimes patterns look like W but it is not the exact W pattern and these patterns are called Semi-W patterns.”

The price of ZEN gained pace by breaking above the 3rd major resistance of $15.12 AUD. If we see the above chart of ZEN/BTC pair on a 4-hour candle, it clearly shows the uptrend of Horizen ZEN has been started by joining the altcoins rally of 2020.

What do the technical indicators say?

The Horizen ZEN TradingView indicators (on the 1 day) mainly indicate ZEN as a buy, except the Oscillators which indicate ZEN as a neutral.

So Why did ZEN Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some of the recent events where the Horizen ZEN 2.0.22 Mainnet Fork is happening today expected around Nov 25 – Block 835968.

Recent Horizen News & Events:

• 16 November 2020 – Weekly Insider #66
• 18 November 2020 – ZEN 2.0.21 Deprecation
• 23 November 2020 – Weekly Insider #67
• 25 November 2020 – ZEN 2.0.22 Mainnet Fork
• 29 November 2020 – Halving
• 30 November 2020 – Weekly Insider #68

Where to Buy or Trade Horizen?

ZEN has the highest liquidity on Binance Exchange so that would help for trading ZEN/USDT or ZEN/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.