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: SHIB, HBAR, LUNA – January 27 Trading Analysis

Post author By Malik Junaid
Post date January 27, 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. Shiba Inu (SHIB)

Shiba Inu SHIB coin was created anonymously in August 2020 under the pseudonym “Ryoshi”. The meme coin quickly gained speed 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$0.00002248. Let’s take a look at the chart below for price analysis:

Source: TradingView

SHIB performed well during late Q3, rocketing upward over 360% from the first week of the month into the resistance near $0.00007832.

For the past several weeks, the price has been moving in a falling wedge and appears to be flipping old support near $0.00002142 to resistance. If this level breaks – perhaps due to the tempting daily equal lows below – the next support begins near $0.00001829.

Bulls entering at these levels could set their first target near the previous resistance near $0.00002680. Beyond this level, probable targets include the new monthly highs near $0.00002824 and the resistance above near $0.00003092.

A break of this resistance later this month could continue to the new weekly highs near $0.00003322 and $0.00003654.

2. Hedera (HBAR)

Hedera Hashgraph HBAR is a public network that allows individuals and businesses to create powerful decentralised applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations older blockchain-based platforms face, such as slow performance and instability. The HBAR token has a dual role within the Hedera public network.

HBAR Price Analysis

At the time of writing, HBAR is ranked the 34^th cryptocurrency globally and the current price is US$0.2203. Let’s take a look at the chart below for price analysis:

Source: TradingView

HBAR‘s 54% December run retraced almost to its origin, narrowly missing probable support near $0.2095 before bears swatted down the bounce near resistance around $0.2389.

With the daily gap between $0.2212 and $0.2164 almost filled in a single wick, the price may not need to revisit areas below this level. However, the safer entry is still in probable support between $0.1945 and $0.1836, which would also sweep the lows of last week’s bounce.

The relatively equal highs near $0.2522 provide a likely first target on lower timeframes. However, the resistance beginning at $0.2935 may initially suppress a further move up.

A clean break through this resistance will need to contend with the next resistance near $0.3192, under the last swing high. This swing high at $0.3470 gives a reasonable take-profit area before a possible move to the 1.0 extension near $0.3625.

3. Terra (LUNA)

Terra LUNA is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its whitepaper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin, and offers fast and affordable settlements. Terra’s native token, LUNA, is used to stabilise the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

LUNA Price Analysis

At the time of writing, LUNA is ranked the 9^th cryptocurrency globally and the current price is US$64.29. Let’s take a look at the chart below for price analysis:

Source: TradingView

After breaking its monthly high last week, LUNA began a range that has been whiplashing both bulls and bears.

Resistance beginning near $85.23 held the price down for the weekly opening, although bulls have shown some strength near the 9 and 18 EMAs.

A quick drop to $58.37, or into the zone beginning near $52.87, could give bulls the fuel to push through the nearby resistance. If this resistance breaks, the high near $69.47 provides a reasonable target.

A break of this level could move further into uncharted territory with the nearest probable resistances projected around $74.28 and $78.57.

More patient bulls might be waiting far below the 40 EMA with bids close to the higher-timeframe range’s 61.8% retracement, near $47.59.

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Top 3 Coins to Watch Today: FTM, NEAR, REN – January 26 Trading Analysis

Post author By Malik Junaid
Post date January 26, 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. Fantom (FTM)

Fantom FTM is a directed acyclic graph (DAG) smart contract platform providing decentralised finance (DeFi) services to developers using its own bespoke consensus algorithm. Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms – specifically transaction speed, which developers say they have reduced to under two seconds.

FTM Price Analysis

At the time of writing, FTM is ranked the 25^th cryptocurrency globally and the current price is US$2.42. Let’s take a look at the chart below for price analysis:

Source: TradingView

FTM‘s bounce since mid-December ran into resistance near the old all-time highs. This rejection created a set of relatively equal highs near $3.35, possibly forming the next bullish leg’s target. Until then, the price will likely encounter resistance near $2.76.

Currently, the price is testing possible support near the January open, around $2.19. This level also has confluence with the 78.6% retracement of the current local range and the 18 and 40 EMAs.

If this level fails to provide support, a zone from $1.95 to $1.82 might mark a possible swing low or consolidation area. This zone is between the 61.8% and 78.6% retracement of December’s swing.

A more bearish tone in the market could propel the price lower. The December lows, near $1.60, might mark an area of possible support as well as a bearish target.

2. Near Protocol (NEAR)

NEAR Protocol is a decentralised application platform designed to make apps usable on the web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to offer scalability and stable fees. NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism called “Doomslug.”

NEAR Price Analysis

At the time of writing, NEAR is ranked 24th cryptocurrency globally and the current price is US$11.60. Let’s take a look at the chart below for price analysis.

Source: TradingView

NEAR tore upward into price discovery during January before pausing at resistance near the main move’s 0.68 extension.

The price range beginning at $10.57 provides the first potential support for an early-week dip. Just below this range, the previous swing high and accumulation near $9.84 could provide more substantial support.

A significant market drop could reach as low as the consolidation range beginning at $8.79, supported by mid-December.

It’s impossible to predict where the price in discovery will go, but the last high at $14.89 provides the first probable target. Extensions from the primary move hint at $15.15, and $16.85 as probable take-profit zones.

3. 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$0.2962. Let’s take a look at the chart below for price analysis:

Source: TradingView

REN bulls have enjoyed over 120% returns since Q3 2021, with little resistance above to end the current price discovery.

The price may find support near $0.2644. Still, aggressive bulls should be wary of a potential stop run under the monthly open into support near $0.2413. The area around $0.2250 should provide strong support if the price reaches this low.

The air above the current price is thin, but the level near $0.3026 could potentially provide some resistance in the short term. Extensions reaching near $0.3277 and $0.3492 make reasonable take-profit zones if the bullish trend continues.

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Top 3 Coins to Watch Today: DOT, LOOKS, WOO – January 25 Trading Analysis

Post author By Malik Junaid
Post date January 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. 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$16.89. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT has retraced nearly 71% since its high in early November, showing little sign of interest from buyers.

December and early January’s consolidation at possible support from $21.68 to $23.57 broke down with the rest of the market last week, 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 December’s consolidation range and the 2021 open, near $27.70, and the high of December’s consolidation range, near $30.88, might see profit-taking from bulls.

The first test of possible support near $16.40 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 $10.37, running stops under July’s 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 $7.16 to $5.47 at the high of 2020’s consolidation range.

2. LooksRare (LOOKS)

LOOKS is the token powering LooksRare, the community-focused NFT marketplace that actively rewards traders and creators for participating. One hundred percent of LooksRare’s platform trading fees are earned by LOOKS token stakers: a rewards model created in direct response to the previous generation of NFT marketplaces whose fees mostly reward a single entity. Users earn LOOKS tokens by trading NFTs on LooksRare, staking LOOKS, which also earns WETH fees, and more.

LOOKS Price Analysis

At the time of writing, LOOKS is ranked the 2830^th cryptocurrency globally and the current price is US$3.56. Let’s take a look at the chart below for price analysis:

Source: TradingView

The 173% surge in LOOKS has retraced 54%, with no high-timeframe levels and low-probability market conditions offering little insight into where a longer-term bottom may form.

The price broke through, then consolidated, near possible support around $4.12. This level is between the 61.8% and 78.6% retracement levels. The current bearish market conditions for more sellers increase the probability of this level breaking and turning to resistance.

An area between $3.44 and $3.28 has offered support twice – and could do so on a future retest. However, each test of a level tends to weaken its strength.

If this level breaks, the last potential support shown in historical price action is near $2.75, where the rally began on January 11.

A shift in market conditions could prompt a rally to $4.55, where an inefficient region and multiple highs create a tempting target for bulls. A more substantial rally could continue to another inefficient zone on the daily chart near $5.28, possibly spiking into a daily level near $5.86.

3. WOO Network (WOO)

WOO Network is a deep liquidity network connecting traders, exchanges, institutions and DeFi platforms with democratised access to best-in-class liquidity and trading execution at lower or zero cost. WOO Token is used in the network’s CeFi and DeFi products for staking and fee discounts. Presently, a diverse set of products and services interfacing retail, institutions, CeFi and DeFi have been built: WOO X is a zero-fee trading platform providing professional and institutional traders with best-in-class liquidity and execution. It features fully customisable modules for workspace customisation.

WOO Price Analysis

At the time of writing, WOO is ranked the 110^th cryptocurrency globally and the current price is US$0.5441. Let’s take a look at the chart below for price analysis:

Source: TradingView

WOO has retraced 74% from its November highs and is currently challenging possible support near $0.5240, between the 61.8% and 78.6% retracement levels.

If this level fails to provide support, the 78.6% retracement, near $0.4401, offers a strong draw for shorts with multiple daily swing lows and an inefficient area.

Continued bearish conditions may cause this level to break, running all swing lows since March 2021 into the upper portion of an inefficient region starting near $0.2100. Near the midpoint and bottom of this region, lower timeframes show that $0.1320 and $0.0440 could also provide some sensitivity.

The low of early December’s consolidation, near $0.6517, and the 9 EMA may provide some resistance on any retracements. A continued rally – unlikely unless the overall market’s catalysts drastically shift – could reach over the 2021 open to $0.9727 and possibly $1.1400, where the daily chart shows a head-and-shoulders formation.

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Top 3 Coins to Watch Today: BNB, ONE, QTUM – January 24 Trading Analysis

Post author By Malik Junaid
Post date January 24, 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. Binance Coin (BNB)

Binance BNB is the biggest cryptocurrency exchange globally, based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of world financial activity. Aside from being the largest cryptocurrency exchange, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. Binance Coin is an integral part of the successful functioning of many of the Binance sub-projects.

BNB Price Analysis

At the time of writing, BNB is ranked the 4^th cryptocurrency globally and the current price is US$372.49. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 35% decline during January, BNB has ranged between $369 and $410.

The recent price recovery was approaching probable resistance near $388, but could be aiming for stops above the relatively equal highs near $395. Continuation of the trend could target the daily gap near $415.

Aggressive bulls might add to positions near $370 and $365. Price action near $360 may be more likely to provide support – if it gets there – during any retracements.

Relatively equal lows clustered around $354 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 $340.

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 47^th cryptocurrency globally and the current price is US$0.2035. Let’s take a look at the chart below for price analysis:

Source: TradingView

ONE‘s rally during January retraced over 55% after the price explored new monthly highs.

Resistance was formed near $0.3315 and $0.3095. With an uncertain market and traders potentially selling, these areas could continue to provide resistance and perhaps prompt a steeper move downward.

The recent market crash, overlapping with the last major down leg’s 41.8% and 55.6% retracements from $0.2167 to $0.2010, could mark an area of support. Inside this zone, $0.1940 to $0.1886 could provide a more sensitive reaction.

A more extended downtrend might reach possible support between $0.1789 and $0.1634, near the origin of the last significant bullish move.

On the other hand, if altcoins resume their recovery trends, the 25% extension near $0.2820 could be the next area of significant profit-taking by bulls.

3. Quantum (QTUM)

Quantum QTUM is a proof-of-stake (PoS) smart contract open-source blockchain platform and value transfer protocol. It aims to bring together the strengths of Bitcoin and Ethereum in one chain. QTUM is built on Bitcoin’s UTXO transaction model, with the added functionality of smart contract execution and DApps. Recently, the platform added support for DeFi applications.

QTUM Price Analysis

At the time of writing, QTUM is ranked the 104^th cryptocurrency globally and the current price is US$5.63. Let’s take a look at the chart below for price analysis:

Source: TradingView

After dropping almost 80% from December, QTUM has been consolidating on previous price supports.

The recent sweep of the lows near $6.30 could set the stage for at least a short rally higher, with bulls possibly buying near $6.42 for a move toward the relatively equal highs near $6.59. A close over these highs might hint at a longer-term move toward probable resistance near $6.90, likely following a retracement.

Rejection from possible resistance near $5.80, potentially including a sweep of the highs around $5.94, could signal a run to the swing low near $5.40. If this move occurs, bears might target the swing low and support near $5.30 and $5.16.

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Top 3 Coins to Watch Today: LTC, DOT, ENJ – January 21 Trading Analysis

Post author By Malik Junaid
Post date January 21, 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. Litecoin (LTC)

Litecoin LTC is a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. The cryptocurrency was created based on the Bitcoin protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times, and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

LTC Price Analysis

At the time of writing, LTC is ranked the 24^th cryptocurrency globally and the current price is US$141.29. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low during early January, LTC kicked off a recovery trend that gained nearly 33% to break the monthly highs.

The following 55% plummet found support near $127.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $150.43.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $162.12, where aggressive bulls might begin bidding. The level near $170.98, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $185.13.

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $120.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $112.44 might also give support and see the start of a new bullish cycle after retesting these support levels.

2. Polkadot (DOT)

DOT Price Analysis

At the time of writing, DOT is ranked the 10^th cryptocurrency globally and the current price is US$25.28. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT has remained between approximately $23.76 and $35.25 since its retracement from November 2021.

Continual retests of the $22.54 level might signify that the price is ready to run to the larger range’s lows.

If this move down occurs, a broad zone from $21.50 to $19.54 may provide support. The upper portion of this zone may see more sensitivity.

Continued bearish market conditions could prompt continuation down through the level. If so, the next higher timeframe area of interest for bulls is likely near $17.86.

The 9, 18 and 40 EMAs, near $28.52, might provide resistance before running the range lows. This area has confluence with multiple swing highs and lows.

However, the current proximity to the local range low could prompt a move toward the range highs. If so, $30.44 might be the near-term target for bulls. Before entering, traders might wait for confirmation that one direction is more likely to unfold.

If the overall market becomes more bullish, the price could continue through the local range highs. If so, a zone from $33.76 to $36.81 – particularly the lower half – could see profit-taking from bulls.

3. Enjin Coin (ENJ)

Enjin Coin ENJ is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores. Enjin Coin is a digital store of value used to back the value of blockchain assets such as non-fungible tokens (NFTs).

ENJ Price Analysis

At the time of writing, ENJ is ranked the 60^th cryptocurrency globally and the current price is US$2.34. Let’s take a look at the chart below for price analysis:

Source: TradingView

ENJ spent January ranging across the monthly open, reaching 18% over and 26% below. The price is currently consolidating between adjacent resistance and support at $2.39 with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $2.50.

This move would likely target the swing high at $2.57 and relatively equal highs near $2.64. A sustained bullish trend could reach up to the monthly high near $2.70.

Bulls might see a sweep of the relatively equal lows near $2.30 as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $2.25 and $2.15.

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Top 3 Coins to Watch Today: CRO, ROSE, CELO – January 20 Trading Analysis

Post author By Malik Junaid
Post date January 20, 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. Crypto Coin (CRO)

Crypto.com coin CRO is the native cryptocurrency token of Crypto.com Chain – a decentralised, open-source blockchain developed by the Crypto.com payment, trading and financial services company. Crypto.com Chain is one of the products in Crypto.com’s lineup of solutions designed to accelerate the global adoption of cryptocurrencies as a means of increasing personal control over money, safeguarding user data, and protecting users’ identities. The CRO blockchain serves primarily as a vehicle that powers the Crypto.com Pay mobile payments app.

CRO Price Analysis

At the time of writing, CRO is ranked the 17^th cryptocurrency globally and the current price is US$0.4335. Let’s take a look at the chart below for price analysis:

Source: TradingView

CRO went parabolic during November, reaching nearly 105% percent within a few days as it blasted through its old all-time high.

This fast move left little compelling higher-timeframe support near the current price. A level near $0.4122, which has confluence with the 8 EMA and 127% extension of H2 2021’s swing, could provide support.

Further below, near $0.3891, 2021’s previous monthly high could also provide some support on a retest. The last consolidation before the breakout, near December’s open, might give the most substantial support. However, this would require significant retracement from the current price point.

While next targets are impossible to predict, extensions from H1 2021’s move suggest that the 30% extension, near $0.5675, could provide some resistance. Above this level, the 42% extension near $0.6248 could also trigger bulls to take profits.

2. Oasis Network (ROSE)

The Oasis Network ROSE is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionising Open Finance and expanding it beyond traders and early adopters to a mass market. Its unique privacy features can not only redefine DeFi but also create a new type of digital asset called Tokenised Data that can enable users to take control of the data they generate and earn rewards for staking it with applications – creating the first-ever responsible data economy.

ROSE Price Analysis

At the time of writing, ROSE is ranked the 68^th cryptocurrency globally and the current price is US$0.4724. Let’s take a look at the chart below for price analysis:

Source: TradingView

ROSE has dropped nearly 38% since late December and found a low in early January, with price action now trending upward through a higher-timeframe range.

The area beginning near $0.5946 has provided strong resistance and may do so again. However, relatively equal highs near $0.5112 offer a tempting target for bulls. A run of these highs may reach up into the daily gap near $0.5514.

Aggressive bulls might add to their positions near $0.4278. If the price breaks through this level, it may be reaching for the cluster of swing lows near $0.3954 and $0.3715. A more substantial move down may run stops below the relatively equal monthly lows, around $0.3466, into the daily gap at this level.

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 66^th cryptocurrency globally and the current price is US$4.36. Let’s take a look at the chart below for price analysis:

Source: TradingView

CELO continued its rally through the daily gap between $4.25 and $4.12, turning this region into an area of possible support.

However, a stop run under the relatively equal lows at $3.97 could form a wick below this level, potentially reaching an untapped daily gap beginning near $3.80.

Resistance starting at $4.53 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 $4.75, continue into probable resistance just above, and possibly set new monthly highs at $4.93.

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Top 3 Coins to Watch Today: MATIC, STRAX, XRP – January 18 Trading Analysis

Post author By Malik Junaid
Post date January 18, 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, securing the system and enabling governance.

MATIC Price Analysis

At the time of writing, MATIC is ranked the 13^th cryptocurrency globally and the current price is US$2.25. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since its July low, MATIC has been in a steady bullish trend – printing a 370% gain by late December. The price found support near $1.991, at the 78.6% retracement level, during early January’s decline.

Last week’s sharp impulse up may have marked the start of a new bullish swing. If this is so, higher timeframes suggest that $2.1940 (near the 61.8% retracement and the 9, 18 and 40 EMAs) might see interest from bulls. The price could reach lower, near $2.0674, and still find support.

Currently, the price is contesting a region between $2.2957 and $2.4028. Closes over this level could confirm it as new support, leading to a move higher.

However, bulls are contending with probable resistance near $2.421, while $2.5251 is also likely to be sensitive with the nearest support and resistance this close together.

Breaking this resistance level might see profit-taking near $2.6214, an inefficiently traded region. However, a move this high could suggest new all-time highs are on the cards. If so, the 0.618% extension, near $3.50, and the 100% extension, near $4.00, are possible targets.

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 300^th cryptocurrency globally and the current price is US$1.36. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since its 1,020% move in H1 2021, STRAX has been in a massive range between approximately $2.70 and $1.25. Long upper wicks during the second half of 2021 show distribution, while the daily chart shows a bearish trend since September.

The price is currently around the 78.6% retracement, near $2.4028. This level has seen interest from bulls since July and might provide support again for a short-term bounce.

The closest resistance may be at $1.428, near the 9, 18 and 40 EMAs. If the price breaks this level, bulls might target the old swing low near $1.660, another old swing low and inefficiently traded area near $1.823, and the consolidation around $1.960.

However, repeated tests of a level, plus the higher-timeframe downtrend, may cause an eventual breakdown of the current support near $1.379. If this occurs, old swing lows near $1.080 – particularly an inefficient region starting near $0.982 – may be the bearish target and the subsequent support.

3. Ripple (XRP)

Ripple XRP is the currency that runs on a digital payment platform called RippleNet, on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and is not based on a blockchain, but rather the previously mentioned distributed ledger database.

XRP Price Analysis

At the time of writing, XRP is ranked the 8^th cryptocurrency globally and the current price is US$0.7548. Let’s take a look at the chart below for price analysis:

Source: TradingView

XRP also printed massive gains in H1 2021 before moving sideways for the rest of the year.

The price is in a downtrend, with the 9, 18 and 40 EMAs providing resistance on each attempt to rally. However, bulls are showing some interest at the 78.6% retracement, near $0.6952. If this level breaks, a move into possible support – just below the June and July lows near $0.4952 – seems likely.

If the price does rally through the swing high at $0.8160 – perhaps triggered by a sudden surge in Bitcoin – bulls might find some resistance at the 61.8% retracement level near $0.8350.

Overlapping swing highs and lows near $0.9436 might provide the next target, where bears forced the price down in late December immediately.

More bullish market conditions could shift targets up near the midpoint of Q3’s consolidation, near $1.0735, where higher timeframes show an inefficiently traded zone.

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Cardano Crypto News Market Analysis Trading

Top 3 Coins to Watch Today: MANA, CRV, ADA – January 17 Trading Analysis

Post author By Malik Junaid
Post date January 17, 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. Decentraland (MANA)

Decentraland MANA defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetise content and applications. In this virtual world, users purchase plots of land that they can later navigate, build on and monetise. Decentraland uses two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, names, and more on the Decentraland marketplace.

MANA Price Analysis

At the time of writing, MANA is ranked the 33^rd cryptocurrency globally and the current price is US$3.08. Let’s take a look at the chart below for price analysis:

Source: TradingView

Like many other altcoins, MANA set a new all-time high during late November before retracing 45% to the low at $2.95 last week.

Price broke through resistance near $3.22, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near $2.93. However, a drop this far increases the chances of a stop run to $2.85 and possibly into support near $2.80. For now, continuing bullish market conditions could help $2.71 become support.

The swing high around $3.26 gives bulls a reasonable first target, with $3.35 also likely to draw the price upward. Higher-timeframe resistance beginning near $3.41 or $3.46 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near new monthly highs near $3.60.

2. Curve DAO Token (CRV)

Curve CRV is a decentralised exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity. Curve has gained considerable attention by following its remit as an AMM specifically for stablecoin trading. The launch of the DAO and CRV token brought in further profitability, given CRV’s use for governance, as it is awarded to users based on liquidity commitment and length of ownership. The explosion in DeFi trading has ensured Curve’s longevity, with AMMs turning over huge amounts of liquidity and associated user profits.

CRV Price Analysis

At the time of writing, CRV is ranked the 58^th cryptocurrency globally and the current price is US$5.14. Let’s take a look at the chart below for price analysis:

Source: TradingView

Last week, bulls enjoyed 25% gains at CRV‘s peak before the price confirmed stiff resistance beginning at $5.44.

The 4-Hour chart shows that support may be forming between $5.00 and $4.85, near the monthly open. Aggressive bulls could enter in this area, although safer entries may be found much further below near $4.69 and $4.56 after a sweep of the current consolidation’s swing lows.

The last swing high near $5.36 provides a likely first target if the price does bounce from this region. Beyond this swing high, the 1.0 extension near $5.49 and the 2.0 extension near $5.70 and $5.94 may provide the next major targets.

3. 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 5^th cryptocurrency globally and the current price is US$1.41. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s nearly 75% drop from its November highs found a low near $1.12 last week before closing over a short-term high.

This daily close over the high could signal a shift in market structure that might reach probable resistance near $1.50. A sustained bullish move may target the swing high at $1.59. If this stop run occurs, a run beyond the high into probable resistance near $1.66 and $1.82 is possible.

Bulls could buy a retracement to possible support near $1.32, just above the monthly open. A bearish turn in the marketplace may propel the price toward possible support near $1.25.

However, relatively equal lows near $1.18 and $1.12 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $1.07 and $1.02.

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Crypto News Market Analysis NEO Trading

Top 3 Coins to Watch Today: 1INCH, NEO, ALGO – January 14 Trading Analysis

Post author By Malik Junaid
Post date January 14, 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. 1inch (1INCH)

1INCH is a decentralised exchange (DEX) aggregator, connecting several DEXes into one platform to allow its users to find the most efficient swapping routes across all platforms. In order for users to find the best price for a swap, they need to look at every exchange – DEX aggregators eliminate the need for manually checking, bringing efficiency to swapping on DEXes. 1inch has launched its 1INCH governance token, and the 1inch Network began to be governed by a decentralised autonomous organisation (DAO).

1INCH Price Analysis

At the time of writing, 1INCH is ranked the 88^th cryptocurrency globally and the current price is US$2.44. Let’s take a look at the chart below for price analysis:

Source: TradingView

After breaking its Q3 highs, 1INCH began a range that has been whiplashing both bulls and bears.

Resistance beginning near $2.80 has held the price down for the second half of December, although bulls have shown some strength near the 9 and 18 EMAs.

A quick push to $2.58, or into the zone beginning near $2.60, could give bulls the fuel to push through the nearby resistance. If this resistance breaks, the high near $2.77 provides a reasonable target.

A break of this level could move further into uncharted territory with the nearest probable resistances projected around $2.89 and $3.10.

More patient bulls might be waiting far below the 40 EMA with bids near the higher-timeframe range’s 45% retracement, near $2.13.

2. Neo (NEO)

NEO bills itself as a “rapidly growing and developing” ecosystem that has the goal of becoming the foundation for the next generation of the internet – a new economy where digitised payments, identities and assets come together. As well as creating a worldwide community of developers who create new infrastructure for the network and lower barriers to entry, the team behind this project operates an EcoBoost initiative that’s designed to encourage people to build decentralised apps and smart contracts on its blockchain.

NEO Price Analysis

At the time of writing, NEO is ranked the 70^th cryptocurrency globally and the current price is US$24.59. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low during late December, NEO has gained nearly 30% into resistance that starts near $36.12.

Aggressive bulls looking for a continuation to the nearest cluster of relatively equal highs around $34.33 might look for bids near $39.86. More significant resistance rests above, near $42.15. A group of significant swing highs at $44.36, $46.55 and $47.23 give possible targets if this resistance breaks.

A stop run on the recent low at $22.00 into possible support beginning near $20.13 might see stronger bidding. This area also has a confluence with the August monthly open.

A bearish market shift could reach the swing low at $19.68 into possible support beginning near $17.84.

3. Algorand (ALGO)

The Algorand ALGO blockchain is a permissionless, pure proof-of-stake blockchain protocol. Unlike proof-of-work (PoW) blockchains, where the root block must be validated by randomly selected validators (using computing power), in the pure proof-of-stake approach all of the validators are known to one another and only have to agree on the next block in order to create a new block. Algorand was invented to speed up transactions and improve efficiency in response to the slow transaction times of Bitcoin and other blockchains.

ALGO Price Analysis

At the time of writing, ALGO is ranked the 23^rd cryptocurrency globally and the current price is US$1.47. Let’s take a look at the chart below for price analysis:

Source: TradingView

After creating a second equal low in December, ALGO gained nearly 36% into resistance that starts near $1.75.

Swing traders looking for a continuation to the nearest cluster of relatively equal highs around $1.44 might look for bids near $1.36. More significant resistance rests above, near $1.58. A group of significant swing highs at $1.64 and $1.73 give possible targets if this resistance breaks.

A stop run on the recent low at $1.34 into possible support beginning near $1.30 might see stronger bidding. This area also has a confluence with the recent monthly lows.

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Crypto News ICP Market Analysis Trading

Top 3 Coins to Watch Today: ICP, LINA, ONE – January 13 Trading Analysis

Post author By Malik Junaid
Post date January 13, 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. 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 29^th cryptocurrency globally and the current price is US$34.98. Let’s take a look at the chart below for price analysis:

Source: TradingView

During Q4 2021, ICP also turned the corner, breaking a key swing high. This move could suggest a longer-term bullish trend.

The swing high near $46.24 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near $58.35.

Even if the bearish trend continues, a stop run at the recent swing low near $32.30 into possible support beginning near $30.87 is reasonable. If the price reaches further down, the swing low and possible support near $29.27 might provide another downside target.

The area near $27.85 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near $25.18 into possible support beginning around $24.73.

2. Linear (LINA)

Linear LINA is a decentralised delta-one asset protocol capable of instantly creating synthetic assets with unlimited liquidity. The project opens traditional assets like commodities, forex, market indices, and other thematic sectors to cryptocurrency users by supporting the creation of “Liquids”, Linear’s synthetic asset tokens. LINA is an ERC-20 token built on the Ethereum network whose main purpose is as collateral for Liquids (using Buildr), and for community governance of the protocol.

LINA Price Analysis

At the time of writing, LINA is ranked the 400^th cryptocurrency globally and the current price is US$0.03626. Let’s take a look at the chart below for price analysis:

Source: TradingView

During December, LINA retraced almost 38%, breaking key swing lows early to mid-month. This could provide a solid support for swing traders.

The swing high near $0.04936 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near $0.05857.

Even if the bearish trend continues, a stop run at the recent swing low near $0.03312 into possible support beginning near $0.03145 is reasonable. If the price reaches further down, the swing low and possible support near $0.03010 might provide another downside target.

3. Harmony (ONE)

ONE Price Analysis

At the time of writing, ONE is ranked the 44^th cryptocurrency globally and the current price is US$0.3259. Let’s take a look at the chart below for price analysis:

Source: TradingView

ONE‘s rally in mid-December stretched over 105% as the price explored new monthly highs.

Resistance has formed near $0.3415 and $0.3195. With an uncertain market and traders potentially selling, these areas could continue to provide resistance and perhaps prompt a steeper move downward.

The recent highs, overlapping with the last major leg’s 61.8% and 78.6% retracements from $0.2867 to $0.2620, could mark an area of support. Inside this zone, $0.2580 to $0.2416 could provide a more sensitive reaction.

A more extended downtrend might reach possible support between $0.2289 and $0.2134, near the origin of the last significant bullish move.

On the other hand, if altcoins resume their bullish trends, the 25% extension near $0.3920 could be the next area of significant profit-taking by bulls.

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