Author: Malik Junaid

Malik is a skilled writer with a background in Software Engineering. His interests are blockchain, cryptocurrency trading and market analysis.

Top 3 Coins to Watch Today: MATIC, ADA, SLP – April 7 Trading Analysis

Post author By Malik Junaid
Post date April 7, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Polygon (MATIC)

Polygon MATIC is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. The MATIC token will continue to exist and will play an increasingly important role in securing the system and enabling governance.

MATIC Price Analysis

At the time of writing, MATIC is ranked the 17^th cryptocurrency globally and the current price is US$1.48. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since its Q1 lows, MATIC has been in a steady bullish trend – printing a 40% gain by mid-March. The price found support near $1.37, at the 70.6% retracement level, during February’s decline.

Last week’s sharp impulse up might have marked the start of a new bullish swing. If so, higher timeframes suggest that $1.80 near the 61.8% retracement, and the 9, 18 and 40 EMAs, may see interest from bulls. The price could reach lower, near $1.40, and still find support.

Currently, the price is contesting a region between $1.55 and $1.45. Closes over this level could confirm it as new support, leading to a move higher.

However, bulls are contending with probable resistance near $1.54, while $1.62 is also likely to be sensitive with the nearest support and resistance this close together.

2. Cardano (ADA)

Cardano ADA is a proof-of-stake blockchain platform whose stated goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals”, helping to create a society that is more secure, transparent, and fair. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.

ADA Price Analysis

At the time of writing, ADA is ranked the 9^th cryptocurrency globally and the current price is US$1.08. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s near 60% drop during Q3 found a low near $0.7835 during mid-March before closing over a short-term high.

This daily close over the high could signal a shift in market structure that may reach probable resistance near $1.18. A sustained bullish move may target the swing high at $1.22. If this stop run occurs, a run beyond the high into probable resistance near $1.28 and $1.37 is possible.

Bulls could buy a retracement to possible support near $0.9840, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.9325.

However, relatively equal lows near $0.8857 and $0.8522 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.8247 and $0.8052.

3. Smooth Love Potion (SLP)

Smooth Love Potion SLP tokens are earned by playing the Axie Infinity game. This digital asset serves as a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets known as Axies. The cost of breeding begins at 100 SLP but increases gradually, rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth, and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.

SLP Price Analysis

At the time of writing, SLP is ranked the 375^th cryptocurrency globally and the current price is US$0.02155. Let’s take a look at the chart below for price analysis:

Source: TradingView

SLP‘s 65% rally during March ran into a 30% retracement near $0.02015. Since then, the price has been consolidating in a 40% range between $0.02124 and $0.02632.

Just below the late-December low, $0.01824 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near $0.01758 might cap a run on the lows near $0.01632 and $0.01575.

The higher-timeframe analysis points to the area near $0.02751 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $0.03027 and $0.03360 may be the next targets.

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Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

Axie Infinity Crypto News IOST Market Analysis Ren Trading

Top 3 Coins to Watch Today: AXS, REN, IOST – April 6 Trading Analysis

Post author By Malik Junaid
Post date April 6, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Axie Infinity (AXS)

Axie Infinity AXS is a blockchain-based trading and battling game that is partially owned and operated by its players. The Axie Infinity ecosystem has its own unique governance token, known as Axie Infinity Shards AXS. These are used to participate in key governance votes and give holders a say in how funds in the Axie Community Treasury are spent.

AXS Price Analysis

At the time of writing, AXS is ranked the 40^th cryptocurrency globally and the current price is US$62.28. Let’s take a look at the chart below for price analysis:

Source: TradingView

AXS‘s relatively small 30% range could suggest that a larger move is setting up in April.

Aggressive bulls could look for entries at the most recent area of support formed near $60.22. However, equal lows near $56.12 make a tempting target for a stop run into this support. This move could reach support near $53.67.

A decisive move to the downside could run stops below the second set of relatively equal lows near $50.23, possibly reaching support at an old swing high and a daily gap near $47.58.

A recent level near $69.84 provided resistance and caused a swing high to form near $75.88, offering first targets. A move through this high may arrive at new monthly high levels near $80.31 and $86.30.

2. Ren (REN)

REN is an open protocol built to provide interoperability and liquidity between different blockchain platforms. The protocol’s native token, REN, functions as a bond for those running nodes that power RenVM, known as Darknodes. REN aims to expand the interoperability, and hence accessibility, of decentralised finance (DeFi) by removing hurdles involved in liquidity between blockchains.

REN Price Analysis

At the time of writing, REN is ranked the 146^th cryptocurrency globally and the current price is US$0.4801. Let’s take a look at the chart below for price analysis:

Source: TradingView

REN bulls have enjoyed over 80% returns since Q1 2022, with little resistance above to end the current price discovery.

The price may find support near $0.4256. Still, aggressive bulls should be wary of a potential stop run under the monthly open into support near $0.4013. The area around $0.3750 should provide strong support if the price reaches this low.

The air above the current price is thin, but the level near $0.5326 could potentially provide some resistance in the short term. Extensions reaching near $0.5977 and $0.6492 make reasonable take-profit zones if the bullish trend continues.

3. Iost (IOST)

IOST‘s blockchain infrastructure is open-source and designed to be secure and scalable, all in the hope that it will serve as the backbone for online services in the future. One of the biggest challenges that IOST aims to resolve centres on how big companies may not be able to embrace blockchains in a customer-facing environment unless they are scalable. The Internet of Services Token is put forward as a way of tackling this problem.

IOST Price Analysis

At the time of writing, IOST is ranked the 118^th cryptocurrency globally and the current price is US$0.0355. Let’s take a look at the chart below for price analysis:

Source: TradingView

IOST rallied 95% during March and almost set new monthly highs before selling off 30% into its weekly low.

A retest of the monthly open, near $0.03625, started a new wave of selling in early April. The subsequent break of the weekly open created a new area of resistance between $0.04159 and $0.04363 – an area that is also inefficiently traded and has confluence with the 9 and 18 EMAs.

If this resistance breaks, a move toward the monthly highs might find resistance between $0.04074 and $0.04570. Any potential move through this resistance will likely find a ceiling near an inefficient higher-timeframe level at $0.04930.

Old support near $0.03289 created a sharp bullish reaction in late March. This region, down to $0.03074, could provide support again.

However, a longer-term bottom is more likely to be found between $0.02827 and $0.02690, where higher-timeframe charts show an inefficiently traded area.

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Crypto News DeFiChain IRISnet Market Analysis MobileCoin Trading

Top 3 Coins to Watch Today: DFI, IRIS, MBOX – April 5 Trading Analysis

Post author By Malik Junaid
Post date April 5, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. DefiChain (DFI)

DeFiChain DFI is a blockchain platform built with the mission of maximising the full potential of DeFi within the Bitcoin (BTC) ecosystem. The software platform is supported by a distributed network of computers and is designed to facilitate fast and transparent transactions. The development team positions DeFiChain as an innovative blockchain project and offers solutions to problems like scalability, security and decentralisation.

DFI Price Analysis

At the time of writing, DFI is ranked the 207^th cryptocurrency globally and the current price is US$4.58. Let’s take a look at the chart below for price analysis:

Source: TradingView

DFI has climbed 109.51% from its late January low and is nearing its range high.

The price is currently encountering resistance near $4.750, where December’s breakdown began. This level could continue to provide resistance.

After bulls reached this resistance, the price saw a sharp 15.2% sell-off to support near $3.923, just above the consolidation that began the last leg upward. This level could provide support again.

More aggressive bulls might hunt closer possible support levels near $4.115, where the sell-off wicked through an inefficiently traded area, and from $4.472 to $4.330, where the 9 EMA and April monthly open converge.

Selling may intensify since the price is nearing its yearly range highs. However, if the price breaks its closest resistance, bulls may be eyeing the two bearish rejections near $5.764 as the next target.

2. IRISnet (IRIS)

Irisnet IRIS is a service protocol and cryptocurrency, officially launched on March 1, 2019. The primary purpose of the IRISnet protocol is to provide a blockchain-based, open network to small and medium businesses that are offering a wide variety of services, with the protocol aiming to employ different public and consortium blockchains to bring the power of decentralised, open networks to thousands of businesses and freelance service providers. Interestingly, IRISnet was named after Iris, the personification of the rainbow and the messenger of the Gods in Greek mythology.

IRIS Price Analysis

At the time of writing, IRIS is ranked the 420^th cryptocurrency globally and the current price is US$0.07611. Let’s take a look at the chart below for price analysis:

Source: TradingView

IRIS climbed nearly 66% after it ran bulls’ stops near a cluster of lows at $0.05133.

The price might find support in the current area, from $0.07636 to $0.07310. Here, the price consolidated before February’s sell-off.

Further below, $0.06525 to $0.06056 may offer more substantial support. The 9, 18 and 40 EMAs have created a bullish cross in this zone. It also has confluence with the 61.8-78.6% retracement levels of the current move and marks the consolidation high before the recent rally.

While the current level could also provide resistance, the price may reach slightly beyond, near $0.08532. This level is near the 2022 yearly open and a significant consolidation low that preceded January’s breakdown.

If this price breaks this resistance, bulls might next watch the area near $0.09808. At this level, the monthly chart shows the last significant consolidation before December’s breakdown.

If the market turns aggressively bearish, bears may enter with a hopeful short target near $0.04625. A move to this level would run bulls’ stops under all higher-timeframe swing lows into the origin of January 2021’s rally.

3. MoBox (MBOX)

MoBox MBOX is an NFT gaming ecosystem built on Binance Smart Chain, a community-driven platform empowering users by rewarding them for their engagement and enjoyment. It combines yield farming in DeFi with gaming NFTs, creating a free-to-play, play-to-earn gaming model. MOBOX Platform combines DeFi and Gaming NFTs, creating a truly free-to-play and play-to-earn ecosystem.

MBOX Price Analysis

At the time of writing, MBOX is ranked the 184^th cryptocurrency globally and the current price is US$3.75. Let’s take a look at the chart below for price analysis:

Source: TradingView

Last week, MBOX broke a key swing high to the upside, reaching resistance beginning near $4.289.

This area could continue to provide resistance, although it’s reasonable to expect the price to reach slightly above to an area between $4.729 and $5.222. This area is near the 2022 yearly open. It also shows an overlap of inefficient higher-timeframe trading and December’s consolidation, which spawned a strong move downward.

As of now, the first probable support may be near $3.393. This area provided support last week. It also overlaps the consolidation high before February’s drop, contains the 9 EMA, and is an inefficiently traded area.

If the support near $3.393 fails, bulls might eye $2.519 as the next possible support. This level has confluence with the 78.6% retracement level, saw the bullish cross of the 9, 18 and 40 EMAs, and is inefficiently traded on higher timeframes.

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Celo Crypto News Dego Finance Market Analysis Polkadot Trading

Top 3 Coins to Watch Today: DEGO, DOT, CELO – April 4 Trading Analysis

Post author By Malik Junaid
Post date April 4, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Dego Finance (DEGO)

Dego Finance DEGO is a decentralised ecosystem that offers a diverse combination of the non-fungible token (NFT) and decentralised finance (DeFi) tools. It is an independent, open NFT ecosystem. Any user is allowed to launch an NFT and initiate mining, auctions and trading, covering the entire lifecycle of the product. Dego’s NFT protocol is a cross-chain, second-layer infrastructure for blockchain projects that can be leveraged for user acquisition and token distribution.

DEGO Price Analysis

At the time of writing, DEGO is ranked the 660^th cryptocurrency globally and the current price is US$3.92. Let’s take a look at the chart below for price analysis:

Source: TradingView

During March, bulls enjoyed 65% gains at DEGO‘s peak before the price confirmed strong resistance beginning at $10.25.

The 1-Day chart shows that support may be forming between $4.15 and $4.00, near the weekly open. Aggressive bulls could enter in this area, although safer entries may be found much further below near $3.89 and $3.78 after a sweep of the current consolidation’s swing lows.

The last swing high near $4.10 provides a likely first target if the price does bounce from this region. Beyond this swing high, the 1.0 extension near $4.35 and the 2.0 extension near $4.60 may provide the next major targets.

2. Polkadot (DOT)

Polkadot DOT is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other. Polkadot’s native DOT token serves three clear purposes: providing network governance and operations, and creating parachains by bonding. The Polkadot protocol connects public and private chains, permissionless networks, oracles, and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain.

DOT Price Analysis

At the time of writing, DOT is ranked the 11^th cryptocurrency globally and the current price is US$23.06. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT has retraced nearly 50% during Q1, showing little sign of interest from buyers.

March’s consolidation at possible support from $22.68 to $24.57 broke down with the rest of the market last month, turning this into likely resistance on future retests. This area now has confluence with the 9 and 18 EMAs.

If market conditions turn and this resistance breaks, an area near the midpoint of January’s consolidation range, near $27.70, and the monthly high near $31.88 may see profit-taking from bulls.

The first test of possible support near $19.70 showed some sensitivity. Still, continued bearishness in the market will likely cause a break of this level.

A break of this support might continue to drop to the next possible support near $17.66, running stops under the Q3 2021 swing low.

If this level gives support and begins a consolidation forming a bottom, bulls might wait for a wick below to possible support from $16.55 to $16.00.

3. Celo (CELO)

Celo is a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users. The network also allows for the creation of smart contracts and decentralised applications (DApps) as part of decentralised finance (DeFi). The platform has two native tokens. CELO is a proof-of-stake (PoS) token used for transaction fees, governance participation and related activities. In the future, the platform aims to host various stablecoins, with one, the Celo Dollar (CUSD), already in use.

CELO Price Analysis

At the time of writing, CELO is ranked the 70^th cryptocurrency globally and the current price is US$3.69. Let’s take a look at the chart below for price analysis:

Source: TradingView

CELO has continued its rally through the daily gap between $3.70 and $3.62, turning this region into an area of possible support.

However, a stop run under the relatively equal lows at $3.54 could form a wick below this level, potentially reaching an untapped daily gap beginning near $3.47.

Resistance starting at $3.80 has seen significant profit-taking, shown by the long upper wicks on the daily candles. A break of this resistance may reach the next significant swing high at $3.95, continue into probable resistance just above, and possibly set new monthly highs at $4.16.

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ChainLink Crypto News Market Analysis MyNeighborAlice Reserve Rights Trading

Top 3 Coins to Watch Today: ALICE, LINK, RSR – April 1 Trading Analysis

Post author By Malik Junaid
Post date April 1, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. MyNeighborAlice (ALICE)

ALICE is a multiplayer builder game where anyone can buy and own virtual islands, collect and build exciting items, and meet new friends. Inspired by successful games such as Animal Crossing, the game combines the best of the two worlds – a fun narrative for regular players who want to enjoy the gameplay experience, as well as an ecosystem for players who want to collect and trade non-fungible tokens (NFTs).

ALICE Price Analysis

At the time of writing, ALICE is ranked the 258^th cryptocurrency globally and the current price is US$7.59. Let’s take a look at the chart below for price analysis:

Source: TradingView

After accumulating under the November monthly open, ALICE rallied 90% in a week before retracing to support near $6.55. Buyers continue to snatch up dips under the weekly open, suggesting that accumulation is still taking place.

Bulls could look for entries in this region while being conscious of a potential stop run below the cluster of lows at $7.37. Two areas of support, beginning near $7.26 and $7.00, provide probable buys if the price dips this low.

The equal highs near $8.63 provide a first reasonable bullish target. If the price takes this target and penetrates the surrounding resistance, the next probable resistance begins near $9.30. Possible targets include the old highs just above this resistance near $10.43, $10.86, and $11.59.

2. Chainlink (LINK)

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

LINK Price Analysis

At the time of writing, LINK is ranked the 24^th cryptocurrency globally and the current price is US$16.85. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s early January spike retraced near $13.08 into the consolidation that began the impulse before bouncing to $17.30.

This consolidation could provide support again, although bears would first have to push the price through possible support near $14.00. The market’s structure may be shifting bearish, with $13.62 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $12.63 before finding support near $11.71.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near $18.78 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the December wick near $21.58.

3. Reserve Rights (RSR)

Reserve Rights RSR is a dual-token stablecoin platform that was launched in May 2019 following a successful initial exchange offering (IEO) on the Huobi Prime platform. Reserve Rights’ dual token setup includes a stablecoin known as the Reserve stablecoin (RSV), which is backed by a basket of assets managed by smart contracts. The second token is the Reserve Rights token (RSR), which is used to keep the RSV stable at its $1.00 price target through a system of arbitrage opportunities.

RSR Price Analysis

At the time of writing, RSR is ranked the 190^th cryptocurrency globally and the current price is US$0.01802. Let’s take a look at the chart below for price analysis:

Source: TradingView

RSR has retraced approximately 52% as the price hovers over possible support beginning near $0.01608.

The significant number of lows in this area will likely see a stop run before any potential move higher. The gap at $0.01570 could provide support for a shallow stop run.

However, lows near $0.01489 also provide a tempting downside target if bitcoin begins a bearish trend. Under these lows, bulls might find support near $0.01412 – or as low as $0.01365 if the market sees a sustained bearish move.

The confluence of levels near $0.01934 that surround the monthly open may provide some resistance, particularly if reached before a run of the highs near $0.02065.

If the bullish trend resumes, $0.02269 may provide some resistance before running the swing highs at $0.02319 and $0.02410.

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Aave Chiliz Crypto News Market Analysis Trading VeChain

Top 3 Coins to Watch Today: CHZ, VET, AAVE – March 31 Trading Analysis

Post author By Malik Junaid
Post date March 31, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Chiliz (CHZ)

Chiliz CHZ is the leading digital currency for sports and entertainment, powering the world’s first blockchain-based fan engagement and rewards platform, Socios.com. Here, fans can purchase and trade branded fan tokens as well as having the ability to participate, influence, and vote in club-focused surveys and polls. Founded in Malta in 2018, the company’s vision is to bridge the gap between active and passive fans, providing millions of sports fanatics with a fan token that acts as a tokenised share of influence.

CHZ Price Analysis

At the time of writing, CHZ is ranked the 64^th cryptocurrency globally and the current price is US$0.3092. Let’s take a look at the chart below for price analysis:

Source: TradingView

CHZ‘s stunning rally to $0.5350 plummeted over 70% after December to sweep consolidation lows at $0.2155. This could set the stage for a new bullish cycle to begin.

The price is currently balancing around the January monthly open. A quick stop run into support beginning near $0.2732 could set the stage for a move into the daily gap beginning near $0.2605, potentially reaching resistance near $0.2437.

A sweep of the highs near $0.3258, followed by a sharp sell-off, could hint that bulls are preparing to run the swing high near $0.3547. This run could find the next resistance around $0.3836 in the candle wick that created the monthly high. If the market remains bullish, the price will likely reach into possible resistance near $0.4128.

2. VeChain (VET)

VeChain VET is a blockchain-powered supply chain platform. VeChain aims to use distributed governance and Internet of Things (IoT) technology to create an ecosystem that solves some of the major problems with supply chain management. The platform uses two in-house tokens, VET and VTHO, to manage and create value based on its VeChainThor public blockchain. The idea is to boost the efficiency, traceability, and transparency of supply chains while reducing costs and placing more control in the hands of individual users.

VET Price Analysis

At the time of writing, VET is ranked the 34^th cryptocurrency globally and the current price is US$0.08355. Let’s take a look at the chart below for price analysis:

Source: TradingView

VET‘s 45% move during last week ran into resistance near $0.08420, at the 27% extension of the Q1 swing.

An old high and the 18 EMA have provided support near $0.06833 and might give support again on a retest. This area also has confluence with the 50% and 62.8% retracements of November’s swing.

Just below, near $0.06493, the 55.8% retracement of the current Q4 swing might also mark an area of support.

If the market turns bearish, $0.06172 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.09018, at the 50% extension of the summer’s swing, could see some profit-taking if bulls break the current resistance near $0.09378. Above, old consolidations near $0.09525 and $0.09872 may also provide some resistance before another round of price discovery.

3. Aave (AAVE)

AAVE is a decentralised finance protocol that allows people to lend and borrow crypto. Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity. AAVE provides holders with discounted fees on the platform, and it also serves as a governance token – giving owners a say in the future development of the protocol.

AAVE Price Analysis

At the time of writing, AAVE is ranked the 48^th cryptocurrency globally and the current price is US$229.86. Let’s take a look at the chart below for price analysis:

Source: TradingView

AAVE‘s strong downtrend that began during mid-January has retraced most of its Q1 move, recently sweeping lows near $160.

A sweep of the relatively equal lows near $217 into possible support around $210, combined with bullish market conditions, could be the catalyst that begins to form a bottom. If this level fails, bulls might buy the monthly gap’s low near $198.

The swing high near $248 may form resistance to any sudden pumps as holders unload some of their position. A more substantial move might sweep relatively swing highs into probable resistance near $256, potentially reaching up to the new monthly high near $265 and $280.

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COTI Crypto News Market Analysis Stratis Tezos Trading

Top 3 Coins to Watch Today: XTZ, STRAX, COTI – March 30 Trading Analysis

Post author By Malik Junaid
Post date March 30, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without any danger of a hard fork. This is something both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 46^th cryptocurrency globally and the current price is US$3.82. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 65% drop since late December saw a second leg after last month’s market-wide drop ran the previous consolidation’s stops.

The level near $4.10 is providing some resistance. However, continuation through the monthly high at $4.32 is not out of the question. Aggressive bulls might bid in the current region near $4.58.

If the price runs the recent swing low, bulls might bid in the gap near $3.70. A deeper retracement could reach near the early-February level and a gap near $3.57. The region near $3.49 and $3.40 may also provide some support during a deeper retracement.

2. Stratis (STRAX)

Stratis STRAX is a blockchain-as-a-service platform that offers several products and services for enterprises, including launching private sidechains, running full nodes, developing and deploying smart contracts, an initial coin offering platform, and a proof-of-identity application. The company also provides cryptocurrency wallets and blockchain consulting services. Stratis operates its own blockchain powered by a native token, STRAX.

STRAX Price Analysis

At the time of writing, STRAX is ranked the 290^th cryptocurrency globally and the current price is US$1.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since its rally in H1 2021, STRAX has been in a massive range between approximately $2.50 and $1.20. Long upper wicks during the second half of 2021 show distribution, while the daily chart shows a bearish trend since January.

The price is currently around the 79.6% retracement, near $1.30. This level has seen interest from bulls since July 2021. It might provide support again for a short-term bounce.

The closest resistance may be at $1.42, near the 9, 18 and 40 EMAs. If the price breaks this level, bulls might target the old swing high near $1.59, another old swing high and inefficiently traded area near $1.72, and the consolidation around $1.80.

However, repeated tests of a level, plus the higher-timeframe downtrend, may cause an eventual breakdown of the current support near $1.20. If this occurs, old swing lows near $1.12 – particularly an inefficient region starting near $0.9877 – may be the bearish target and the subsequent support.

3. Coti (COTI)

COTI markets itself as the first enterprise-grade fintech platform that empowers organisations to build their own payment solutions as well as digitise any currency to save time as well as money. COTI is one of the world’s first blockchain protocols that is optimised for decentralised payments and designed for use by merchants, governments, payment DApps, and stablecoin issuers. The ecosystem has a DAG-based blockchain, proof-of-trust consensus algorithm, multiDAG, GTS (Global Trust System), a universal payment solution, and a payment gateway.

COTI Price Analysis

At the time of writing, COTI is ranked the 180^th cryptocurrency globally and the current price is US$0.2896. Let’s take a look at the chart below for price analysis:

Source: TradingView

COTI‘s rally during H2 2021 broke down in early November and has since been in a bearish trend on the daily chart. The price recently swept lows below a contested area at $0.1952, which prompted a rally during the last week into resistance at the 40 EMA near $0.2988.

It remains to be seen whether this contested area from $0.2603 to $0.2252 can support a retest.

Unless the overall market turns bullish, a bearish continuation to possible support near $0.2165 – just under the 79.6% retracement level – seems likely. This area has sparked multiple consolidations.

A break of this level might continue to possible support near $0.1599, where the H2 2021 rally began accumulating before its run.

If the market continues its rally, breaking through resistance near the 2021 yearly open, the macro range highs near $0.3913 might provide the next resistance.

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Crypto News EOS Harmony Market Analysis Trading WAX

Top 3 Coins to Watch Today: EOS, ONE, WAX – March 29 Trading Analysis

Post author By Malik Junaid
Post date March 29, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Eos (EOS)

EOS is a platform designed to allow developers to build decentralised apps. The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology and ensure the network is easier to use than rivals. As a result, tools and a range of educational resources are provided to support developers who want to build functional apps quickly. EOS also aims to improve the experience for users and businesses. While the project tries to deliver greater security and less friction for consumers, it also vies to unlock flexibility and compliance for enterprises.

EOS Price Analysis

At the time of writing, EOS is ranked the 49^th cryptocurrency globally and the current price is US$2.96. Let’s take a look at the chart below for price analysis:

Source: TradingView

Early September began a bearish trend for EOS, which dropped 71% before setting a low near $1.86 in late February.

After a several-week accumulation and running stops below the December 2021 swing low, mid-March began a bullish rally that climbed 58% by March 28, reaching the 2022 yearly open.

The old 2021 lows, near $3.27, could mark a resistance area. If this is the start of a larger bullish market cycle, bulls might take their next profits near $4.31 – an inefficient area near November’s breakdown. Another potential resistance is near $5.06, which saw multiple rejections during distribution before November’s breakdown.

An area of old consolidation from $2.95 to $2.57 could provide the next bullish setup before any continuation upward. This area contains the last swing high before late February’s stop run. A drop just below, near $2.34, is also reasonable. This level is near the March monthly open and 40 EMA.

If the bearish trend resumes, bulls might find the next higher-timeframe support between $1.70 and $1.21. This region, especially under $1.42, was inefficiently traded and has not been revisited since 2018.

2. Harmony (ONE)

Harmony ONE is a blockchain platform designed to facilitate the creation and use of decentralised applications (DApps). The network aims to innovate the way decentralised applications work by focusing on random state sharding, which allows creating blocks in seconds. Harmony was expected to introduce cross-shard contracts and a cross-chain infrastructure by the end of 2021.

ONE Price Analysis

At the time of writing, ONE is ranked the 59^th cryptocurrency globally and the current price is US$0.1688. Let’s take a look at the chart below for price analysis:

Source: TradingView

ONE bulls have had to endure a 71% drop since early January until the price set a low and began a range in late February.

Currently, the price is aggressively moving toward possible resistance, beginning near $0.1711. Stops above the swing high at $0.1735 might be the target before a downwards retracement. Multiple old lows mark this resistance, which is near the 78.6% retracement level of a recent significant bearish swing.

If the price continues through this high, it could be reaching for an inefficient area near $0.1972. Moving to this level would run bears’ stops above the swing high at the same level. A more substantial rally might reach an old swing high and inefficiently traded area between $0.2275 and $0.2538, which surrounds the 2022 yearly open.

If the price stays above Monday’s low of $0.1595, this price could support a run above the $0.1735 swing high. Just below, at $0.1554, bulls might eye the consolidation high as more substantial support. This zone contains the 9 and 40 EMAs.

A deeper retracement might retest the accumulation area between $0.1425 and $0.1280. If this level breaks, bears may be targeting an inefficiently traded area on higher timeframes beginning near $0.0980. This area overlaps the 27% extension of a recent significant bearish swing.

3. Wax (WAXP)

WAXP is a purpose-built blockchain, released in 2017, that is designed to make e-commerce transactions faster, simpler and safer for every party involved. The WAX blockchain uses delegated proof-of-stake (DPoS) as its consensus mechanism. It is fully compatible with EOS. The custom features and the incentive mechanisms developed by WAX are intended to optimise the blockchain’s utility specifically for use in e-commerce, with the goal of encouraging voting on proposals.

WAX Price Analysis

At the time of writing, WAX is ranked the 114^th cryptocurrency globally and the current price is US$0.3528. Let’s take a look at the chart below for price analysis:

Source: TradingView

WAX finished its 76% retracement from November’s euphoric high to January’s low as it found support between $0.2712 and $0.2417.

This level could provide support again, although bulls anticipating continuation might watch for closer setups in possible support between $0.3403 and $0.2960. This region marks the high of an accumulation range on higher timeframes, and its low end contains the added confluence of the 9, 18 and 40 EMAs and the March open.

The swing high and small inefficiently traded area near $0.3834 could be the first target of this rally. Continuation through this level might reach resistance near the low of the late December consolidation range and 2022 yearly open, near $0.4230. A more sustained rally will likely run for the relatively equal highs around $0.5268.

If the bearish trend resumes, bears may take profits – although the price could continue lower – between $0.2188 and $0.1723. This level is below multiple old swing lows, an appealing target for bears, and contains the last accumulation area before August’s explosive rally to new all-time highs.

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Avalanche Crypto News Market Analysis Siacoin Trading Zilliqa

Top 3 Coins to Watch Today: ZIL, SC, AVAX – March 28 Trading Analysis

Post author By Malik Junaid
Post date March 28, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Zilliqa (ZIL)

Zilliqa ZIL is a public, permissionless blockchain designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralised applications, and it also allows for staking and yield farming. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

ZIL Price Analysis

At the time of writing, ZIL is ranked the 70^th cryptocurrency globally and the current price is US$0.1134. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s 60% drop during Q1 found a low near $0.04138 before closing over a weekly high around $0.09872.

This daily close over the high could signal a shift in market structure that might reach probable resistance near $0.1237. A sustained bullish move may target the swing high at $0.1364. If this stop run occurs, a run beyond the high into probable resistance near $0.1588 and $0.1645 is possible.

Bulls could buy a retracement to possible support near $0.1058, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.09536.

However, relatively equal lows near $0.08934 and $0.08824 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.08615 and $0.08566.

2. Siacoin (SC)

Siacoin SC is the native utility token of Sia, a blockchain-based distributed, decentralised cloud storage platform. Sia acts as a secure, trustless marketplace for cloud storage in which users can lease access to their unused storage space. Agreements and transactions are enforced with smart contracts, and Siacoin is the medium of exchange for paying for storage on the network. The main goal of the project is to become the “backbone storage layer of the internet”.

SC Price Analysis

At the time of writing, SC is ranked the 120^th cryptocurrency globally and the current price is US$0.01177. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 70% decline from December, SC has ranged between $0.008723 and $0.01165.

The recent rally is approaching probable resistance near $0.01290 but could be aiming for stops above the relatively equal highs near $0.01430. Continuation of the bullish move could target the daily gap near $0.01624.

Aggressive bulls might add to positions near $0.01130 and $0.01094. Price action near $0.01012 may be more likely to provide support – if the price reaches it – during any retracements.

Relatively equal lows clustered around $0.009743 seem likely to be swept if the bearish trend resumes. If this move occurs, the price might find support at the significant higher-timeframe level near $0.009375.

3. Avalanche (AVAX)

Avalanche AVAX is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low-cost, and green. Any smart contract-enabled application can outperform its competition on Avalanche. AVAX is the native token of Avalanche. It is a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche.

AVAX Price Analysis

At the time of writing, AVAX is ranked the 10^th cryptocurrency globally and the current price is US$86.06. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s 55% gains in February ended with an almost 25% retracement as the rest of the altcoin market dropped during early March. Bulls stepped in near the 51.8% retracement of Q4’s move, creating a consolidation that ended with last week’s bullish impulse to resistance near $89.35.

With the 9, 18 and 40 EMAs stacked bullish and a bullish higher-timeframe trend, it’s reasonable to anticipate retracement to possible support before further bullish expansion.

Near the 40 EMA, a broad zone from $70.15 to $67.45 could see interest from bulls before further expansion. If this level fails, bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 65% retracement, at $63.74, and potentially lower to a higher-timeframe support zone between $58.42 and $55.73.

If the higher-timeframe bullish trend resumes and the current resistance near $97.35 breaks, the wicks near $109.84 and the new monthly highs might see profit-taking.

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Crypto News ICP Market Analysis Shiba Inu Smooth Love Potion Trading

Top 3 Coins to Watch Today: SLP, SHIB, ICP – March 25 Trading Analysis

Post author By Malik Junaid
Post date March 25, 2022

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Smooth Love Potion (SLP)

SLP Price Analysis

At the time of writing, SLP is ranked the 370^th cryptocurrency globally and the current price is US$0.02127. Let’s take a look at the chart below for price analysis:

Source: TradingView

SLP‘s 120% rally during February ran into 48% retracement near $0.01715. Since then, the price has been consolidating in a 40% range between $0.02124 and $0.02562.

Just below the late-December low, $0.01724 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near $0.01658 might cap a run on the lows near $0.01532 and $0.01475.

The higher-timeframe analysis points to the area near $0.02851 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $0.03127 and $0.03460 may be the next targets.

2. Shiba Inu (SHIB)

Shiba Inu SHIB coin was created anonymously in August 2020 under the pseudonym “Ryoshi”. The meme coin quickly gained traction and value as a community of investors was drawn in by the cute charm of the coin, paired with headlines and tweets from personalities including Elon Musk and Vitalik Buterin.

SHIB Price Analysis

At the time of writing, SHIB is ranked the 15^th cryptocurrency globally and the current price is US$0.00002474. Let’s take a look at the chart below for price analysis:

Source: TradingView

SHIB performed well during February, reaching over 60% from the first week of the month into the resistance near $0.00003542.

For the past several days, the price has been moving in a falling wedge and appears to be flipping old support near $0.00002342 to resistance. If this level breaks – perhaps due to the tempting daily equal lows below – the next support begins near $0.00002129.

Bulls entering at these levels could set their first target near the previous resistance near $0.00002980. Beyond this level, probable targets include the new monthly highs near $0.00003324 and the resistance above near $0.00003652.

A break of this resistance later this month could continue to the new highs near $0.00003782 and $0.00003824.

3. Internet Computer (ICP)

The Internet Computer ICP is the world’s first blockchain that runs at web speed with unbounded capacity. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum – a blockchain computer that scales smart contract computation and data, runs them at web speed, processes and stores data efficiently, and provides powerful software frameworks to developers. By making this possible, the Internet Computer enables the complete reimagination of software, providing a revolutionary new way to build tokenised internet services, pan-industry platforms, decentralised financial systems, and even traditional enterprise systems and websites.

ICP Price Analysis

At the time of writing, ICP is ranked the 35^th cryptocurrency globally and the current price is US$19.17. Let’s take a look at the chart below for price analysis:

Source: TradingView

During March, ICP also turned the corner, breaking a key swing high. This move could suggest a longer-term bullish trend.

The swing high near $25.24 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near $29.35.

Even if the bearish trend continues, a stop run at the recent swing low near $17.00 into possible support beginning near $16.47 is reasonable. If the price reaches further down, the swing low and possible support near $15.97 might provide another downside target.

The area near $14.25 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near $13.82 into possible support beginning around $13.00.

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