Author: Malik Junaid

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

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Binance Crypto News Market Analysis Swyftx Trading

Venus XVS Surged +54% in a Single Day amid XVS listed on Poloniex Defi Innovation Zone

Venus XVS is trading in an uptrend, like many other Altcoins. The cryptocurrency XVS just went up +54% in a single day by breaking a falling wedge pattern with strong buying volume on multiple exchanges and surges over +86% in a week.

What is XVS?

Venus XVS is an algorithmic money market and synthetic stablecoin protocol launched exclusively on Binance Smart Chain (BSC). The protocol introduces simple-to-use crypto-asset lending and borrowing solution to the decentralized finance (DeFi) ecosystem, enabling users to directly borrow against collateral at high speed while losing less to transaction fees. The governance of the protocol is entirely controlled by XVS community members, since the Venus founders, team members, and other advisors do have any XVS token allocations.

XVS Price Analysis

At the time of writing, XVS is ranked 137th cryptocurrency globally and the current price is A$34.08. This represents a +86% increase since July 20, 2021 (seven days ago), as shown in the chart below.

Source: TradingView

After looking at the above 4-Hour candle chart, we can clearly see that XVS was trading inside the falling wedge pattern on the XVS/USDT pair. The first resistance was on the A$25.64 price levels which XVS broke with a strong bullish trend buying volume and is now heading towards the previous monthly high price at A$45.38 Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery with 14% in a day XVS might continue to increase in the uptrend if traders keep buying with high volume.

“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

What Do The Technical Indicators Say?

TradingView indicators (on the one-day window) mainly suggest XVS as a Buy.

So Why Did XVS Breakout?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying XVS for the next Altcoins rally. Recent news was also announced regarding Poloniex Listing XVS Coin on its DeFi Innovation Zone.

Where to Buy or Trade XVS?

Venus XVS has high liquidity on the Binance exchange which could help for trading XVS/BTC or XVS/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.

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Binance Crypto News DigiByte EOS Market Analysis Ripple Swyftx Trading

Top 3 Coins To Watch Today: EOS, XRP, DGB July 26 Trading Analysis

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. Electro Optical System (EOS)

EOS is a platform that’s designed to allow developers to build decentralized apps DApps. The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology and ensure that 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 28th cryptocurrency globally and the current price is A$4.87. Let’s take a look at the chart below for price analysis:

Source: TradingView

EOS marines continue pushing the price higher, printing nearly 45% gains during the end of July.

The consolidation near A$4.75 is likely to provide support as the price continues exploring new highs. However, a set of relatively equal lows near A$4.38 provides a tempting target for a stop run into probable support near A$4.15.

A decidedly bearish shift in the market could reach probable support near A$3.85.

Almost no resistance lies overhead, although low-timeframe traders can use the resistance below recent highs near A$5.20 as a first target. Beyond this level, extensions near A$5.88, A$6.15, and A$6.45 give reasonable higher-timeframe targets.

2. Ripple (XRP)

Ripple XRP is the currency that runs on a digital payment platform called RippleNet, which is 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 blockchain, but rather the previously mentioned distributed ledger database.

XRP Price Analysis

At the time of writing, XRP is ranked the 6th cryptocurrency globally and the current price is A$0.811. Let’s take a look at the chart below for price analysis:

Source: TradingView

XRP retraced 45% during July before finding support near A$0.5937. The following bounce encountered resistance at the daily gap near A$0.6328.

Bulls might wait for a sweep of the local lows into support near A$0.7344 before stepping in. A move to this level could reach into the higher timeframe gap down to A$0.6936. 

In the most bearish scenario, a significant turn in the market could push the price down to the consolidation near A$0.6422.

The local resistance is near A$0.9855 and the relatively equal swing highs give a reasonable first target. Just above, layered resistance near A$1.18 and A$1.27 could slow bulls down as they push the price towards the significant swing high at A$1.45.

3. DigiByte (DGB)

DigiByte DGB is an open-source blockchain and asset creation platform. Development began in October 2013 and the genesis block of its DGB token was mined in January 2014 as a fork of Bitcoin. A longstanding public blockchain and cryptocurrency, DigiByte uses five different algorithms to improve security, and originally aimed to improve on the Bitcoin blockchain’s security, capacity, and transaction speed. DigiByte consists of three layers: a smart contract “App Store,” a public ledger, and the core protocol featuring nodes communicating to relay transactions.

DGB Price Analysis

At the time of writing, DGB is ranked the 89th cryptocurrency globally and the current price is A$0.05837. Let’s take a look at the chart below for price analysis:

Source: TradingView

DGB bears have retraced over 145% since June, with little resistance above to end the current price discovery.

The price may find support near A$0.04655. Still, aggressive bulls should be wary of a potential stop run under the monthly open into support near A$0.04371. The area around A$0.04015 should provide strong support if the price reaches this low.

The air above the current price is thin, but the level near A$0.0695 could potentially provide some resistance in the short term. Extensions reaching near A$0.0784 and A$0.0872 make reasonable take-profit zones if the bullish trend continues.

Where to Buy or Trade Altcoins?

These three 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.

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Binance Crypto News Initial Coin Offering Market Analysis Trading

Coin98 Surges +1850% Amid listing on Binance Launchpad – C98 Breakout Analysis

After the launch of Coin98 on Binance Launchpad, C98 took a strong Breakout with +1850% gains in a single day. Let’s take a quick look at C98, price analysis, and possible reasons for the recent breakout.

What is Coin98?

Coin98 is a decentralized finance (DeFi) solution that allows users access to cross-chain swaps, staking, and yield farming. The Coin98 exchange describes itself as a multi-chain liquidity aggregator that supports assets across a variety of blockchains, including but not limited to Ethereum, Binance Smart Chain, Solana, and Tron. Coin98 also has a wallet amongst its offerings, which supports over 20 networks on both its mobile and desktop platforms.

C98 Price Analysis

At the time of writing, C98 is ranked 2549th cryptocurrency globally and the current price is A$1.41. This is a +1268% increase since the launch of its ICO at Binance Launchpad on (23rd July 2021). Have a look at the chart below for price analysis.

Source: Binance Charts

After the launch of Coin98 on Binance Launchpad, It pumped up to A$1.75 having +1850% gains in just a few minutes and the initial opening price of C98 was A$0.0958 at Binance Exchange with many different trading pairs like C98/BTC, C98/USDT, and C98/BUSD.

Currently, C98 is trading at A$1.45 price levels after breaking out the squeeze resistance in its sideways trend & now heading towards its all-time high price.

What do the technical indicators say?

The Coin98 TradingView indicators (on the 1 day) mainly indicate C98 as a strong buy, except the Oscillators which indicate C98 as a neutral.

So Why did Coin98 Breakout?

After the C98 opening at Binance Launchpad, mostly ICO’s pumps after going live on exchange for trade and, General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. and then the suggested start of the Altcoins season could have contributed to the recent breakout. It could also be contributed to some recent news of Binance Listing.

Where to Buy or Trade Coin98?

Coin98 has the highest liquidity on Binance Exchange so that would help for trading C98/BTC, C98/BUSD, or C98/USDT pairs. However, you can also buy C98 from different exchanges listed on Coinmarketcap.

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Binance Crypto News Market Analysis Trading

Dexe Surged +118% in a Single Day as Binance adds USDT Trading pair for Dexe

Dexe is trading in an uptrend, like many other Altcoins. The cryptocurrency DEXE just went up +118% in a single day by breaking a falling wedge pattern with strong buying volume on multiple exchanges and surges over +168% in a week.

What is Dexe?

The DeXe token DEXE claims to enable the open and permissionless system. Following protocol rules and contributing resources facilitates consensus among participants, automatic buyback and distribution among insurance vaults, farming rewards among token holders, and burning of tokens for a percentage of traders’ rewards.

Dexe Price Analysis

At the time of writing, DEXE is ranked 554th cryptocurrency globally and the current price is A$10.44. This represents a +168% increase since July 17, 2021 (seven days ago), as shown in the chart below.

Source: TradingView

After looking at the above 4-Hour candle chart, we can clearly see that Dexe was trading inside the falling wedge pattern on the DEXE/BUSD pair. The first resistance was on the A$5.22 price levels which Dexe broke with a strong bullish trend buying volume and is now heading towards the previous monthly high price at A$17.84. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin crash recovery, Dexe might continue to increase in the uptrend if traders keep buying with high volume.

“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

What Do The Technical Indicators Say?

TradingView indicators (on the one-day window) mainly suggest DEXE as a Neutral.

So Why Did Dexe Breakout?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying Dexe for the next Altcoins rally. Recent news was also announced regarding Binance adding DEXE/USDT trading pair.

If you have conducted extensive due diligence and like the concept of the project, and you feel it can create long-term token holder value, investing in some DEXE coin may be a good move. In addition, if you want to be part of the DeXe DAO, holding DEXE tokens is a must.

Where To Buy or Trade Dexe?

Dexe coin has high liquidity on the Binance exchange, which could help for trading DEXE/ETH or DEXE/USDT pairs. However, you can also buy Dexe tokens from other multiple crypto exchanges.


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Binance Crypto News Market Analysis Solana Swyftx Trading

Top 3 Coins To Watch Today: SKL, SOL, CHR July 23 Trading Analysis

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. SKALE Network (SKL)

Skale SKL is described as an elastic network that’s designed to bring scalability to Ethereum. As well as boosting transaction capacity, the decentralized project aims to reduce latency and ensure that payments can be made as cheaply as possible. SKALE Network is geared towards improving both the security and decentralization of Ethereum-based apps. Token holders on the SKALE Network are incentivized and earn rewards by helping to improve the scalability and security of the platform by serving as validators.

SKL Price Analysis

At the time of writing, SKL is ranked the 130th cryptocurrency globally and the current price is A$0.2661 Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the beginning of July, SKL has been in a gentle downtrend. The future likely holds more stop runs and erratic volatility until the chart forms more substantial high-timeframe levels.

A retracement might uncover support near A$0.2538, which is the daily high of the last swing low. The high of the wick beginning near A$0.2471 may also provide support. However, bulls will likely remain wary of the current downtrend, making the low at A$0.2214 likely to be the next bearish target.

Just above, the daily gap beginning near A$0.3288 may provide resistance to bulls, possibly marking a future range high. A push through this level is likely to target the swing high near A$0.3593 – perhaps running to probable resistance near A$0.3844. Strength above this level might signal the start of a bullish trend, encouraging bulls to “buy the dip.”

2. Solana (SOL)

Solana SOL is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

SOL Price Analysis

At the time of writing, SOL is ranked the 14th cryptocurrency globally and the current price is A$37.70. Let’s take a look at the chart below for price analysis:

Source: TradingView

July 11th 125% bullish weekly candle has since bled near 85%, with the SOL finding a low near A$32.54 in mid-July.

Bulls are buying each drop into support near A$35.82, with higher lows forming each time. However, the equal lows near A$33.14 create an attractive target for a stop run. Still, bulls might buy this dip near possible support beginning at A$31.66.

Just over the July monthly open, A$45.73 marks the beginning of a probable resistance zone. A breakthrough in this area might target the equal highs near A$47.95 before running into possible resistance near A$49.89.

A sustained move upward – perhaps from a market-wide bullish shift – could reach the swing high near A$53.68 before encountering probable resistance near A$56.88.

3. Chromia (CHR)

Chromia CHR is an open-source public blockchain conceived of by Swedish company Chromaway AB. The Chroma token (CHR) was launched in May of 2019. The technology behind the Chromia blockchain is adapted from an earlier technology called ‘Postchain’, a solution provided by Chromaway AB for enterprise clients. Chromia is a standalone Layer-1 blockchain and EVM compatible Layer-2 enhancement for Binance Smart Chain and Ethereum.

CHR Price Analysis

At the time of writing, CHR is ranked the 189th cryptocurrency globally and the current price is A$0.3902. Let’s take a look at the chart below for price analysis:

Source: TradingView

During the third week of July, CHR dumped over 62% before finding support near A$0.2688. Consolidation above this level has created a series of relatively equal lows, which are likely to be swept before any longer-term bullish trend begins. 

In the shorter term, the price might establish support near A$0.3588 before running the swing high at A$0.4055. If this bullish move occurs, the price could reach resistance near the May monthly open around A$0.5571 and even sweep the swing high near A$0.5746.

Some support might exist at the daily gap near A$0.2338 A move this low would also fill the June monthly gap and set the stage for a possible bullish reversal.

Where to Buy or Trade Altcoins?

These three 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.


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Binance Crypto News Market Analysis Swyftx Trading

Axie Infinity AXS Surged +42% in a Day amid recent Axie Podcast

Axie Infinity (AXS) is trading in an uptrend, like many other Altcoins. The cryptocurrency AXS just went up +42% in a single day by breaking a falling wedge pattern with strong buying volume and surges over +85% in a week.

What is 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 also has its own unique governance token, known as Axie Infinity Shards (AXS). These are used to participate in key governance votes and will 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 54th cryptocurrency globally and the current price is A$32.79. This is a +85% increase since 16th July 2021 (7 days ago) as shown in the chart below.

Source: TradingView

After looking at the above 1-Day candle chart, we can clearly see that AXS was trading inside the falling wedge pattern on the AXS/USDT pair. The first resistance was on the A$24.87 price levels which AXS broke with a strong bullish trend buying volume and is now heading towards the all-time high price in AUD. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin crash recovery, AXS might continue to increase in the uptrend if the traders keep buying with high volume.

“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

What Do The Technical Indicators Say?

TradingView indicators (on the 1 day window) mainly suggest AXS as a strong buy, except the Oscillators which indicate AXS as a Buy.

So Why Did AXS Breakout?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying AXS for the next Altcoins rally. Recent news was also announced regarding Axie Podcast action.

There was also a 60% increase in new players who joined the Crypto & this massive increase is pushing AXS coin to reach its all-time high price very soon.

Where to Buy or Trade AXS?

Axie Infinity has high liquidity on the Binance exchange which could help for trading AXS/BTC or AXS/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.

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Binance ChainLink Crypto News Market Analysis Swyftx Trading

Top 3 Coins To Watch Today: MATIC, LINK, CAKE July 22 Trading Analysis

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. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche, etc. with the advantages of Ethereum’s security, vibrant ecosystem, and openness.

MATIC Price Analysis

At the time of writing, MATIC is ranked the 17th cryptocurrency globally and the current price is A$1.22. Let’s take a look at the chart below for price analysis:

Source: TradingView

After its early Q2 bullrun, MATIC has been ranging between approximately A$1.95 and A$1.15.

Last week’s sharp decline ran equal lows into a gap on the daily chart. This down move could set the stage for an attack on the relatively equal highs near A$1.35 if the price can break probable resistance near A$1.27 and A$1.32. 

Above these highs, resistance near A$1.43 could halt a bullish move, although reaching the Q2 high at A$1.98 is possible.

Aggressive bulls might look for entries in possible support near A$1.18 and A$1.15, just below the current price. If the price sweeps last week’s low, the levels near A$1.13 and A$1.10 may also provide support.

2. Chainlink (LINK)

Chainlink LINK is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle 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. The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors, and more.

LINK Price Analysis

At the time of writing, LINK  is ranked the 15th cryptocurrency globally and the current price is A$20.63. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s spectacular Q2 pump has retraced most of its gains in July as it finds support near A$18.25

Stops under the relatively equal lows near A$19.34 might be swept, along with the swing low near A$19.10. If this sweep happens, the price could find support near A$18.55. A move further down could find more support near A$17.62.

Spikes upward are likely to encounter resistance beginning near A$26.38. If the bullish trend resumes after re-accumulation, some traders might take profits as the price approaches probable resistance starting around A$31.57 and A$34.19.

The Q2 mid-high near A$39.62 provides a clear first primary target. Any price moves beyond this level are challenging to predict from current price action.

3. PancakeSwap (CAKE)

PancakeSwap CAKE is an automated market maker (AMM) — decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. PancakeSwap uses an automated market maker model where users trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return.

CAKE Price Analysis

At the time of writing, CAKE is ranked the 34th cryptocurrency globally and the current price is A$17.29. Let’s take a look at the chart below for price analysis:

Source: TradingView

The second half of June punished CAKE bulls with a nearly 68% drop before the price found support near an old swing low around A$16.59

Aggressive bulls might look for entries at possible support beginning near A$15.64 However, stops under the equal lows near A$15.12 are likely to be swept.

The area near A$14.30 provides a possible target for this stop run if it occurs. A more sustained bearish trend could reach down to the broad zone of possible support between A$13.28 and A$12.86.

The price is currently challenging resistance at a gap beginning near A$17.50. If this level breaks, bulls could find more resistance near A$19.09 while targeting the highs up to A$21.33. 

A sweep of these highs is likely to find resistance by the time price reaches the area near A$24.56. The next reasonable targets would be the swing highs and resistance near A$28.49 and A$31.88.

Where to Buy or Trade Altcoins?

These three 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.

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Binance Crypto News Dogecoin Market Analysis NEO Swyftx Trading

Top 3 Coins To Watch Today: NEO, DOGE, SUSHI – July 21 Trading Analysis

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. 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. 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. It’s often been likened to the Chinese version of the Ethereum network.

NEO Price Analysis

At the time of writing, NEO is ranked the 44th cryptocurrency globally and the current price is A$35.37. Let’s take a look at the chart below for price analysis:

Source: TradingView

July saw a nearly 35% retracement in NEO‘s price, but the bulls and bears might have more room to compete.

Last week, the price ran into resistance at A$37.59 before sweeping lows and dropping near the four-hour chart’s 18% retracement level near A$35.89. This move created potential support beginning near A$32.45, with a lower timeframe support possibly forming at A$30.24 to give aggressive bulls an entry.

The highs near A$40.89 and A$42.17 provide two first probable targets. If the support beginning near A$40.00 continues to hold, bulls could use this retracement’s extensions to anticipate take-profit zones near A$46.73 and A$50.71 The extensions near A$52.81, A$54.97 and A$56.58 are also likely to provide intermediate-term targets.

2. Dogecoin (DOGE)

Dogecoin DOGE is based on the popular “Doge” internet meme and features a Shiba Inu on its logo. The open-source digital currency – created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia – was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, lighthearted cryptocurrency that would have greater appeal beyond the core bitcoin audience since it was based on a dog meme. Tesla CEO Elon Musk has posted several tweets on social media that Dogecoin is his favourite coin.

DOGE Price Analysis

At the time of writing, DOGE  is ranked the 8th cryptocurrency globally and the current price is A$0.2348. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOGE has been in a strong bear trend since mid-May, giving bottom-buyers a good entry this month again.

On Monday, the price broke out from the falling wedge A$0.2644 after sweeping lows near A$0.2521, potentially signalling the start of the next significant move upward after having a little correction once again.

Bulls could wait for a retracement near probable support beginning at A$0.2215, with the daily gap’s midpoint near A$0.2179 providing a higher risk-reward entry. The relatively equal daily lows near A$0.2058 could also attract a stop run, providing an attractive entry area in the broad support region between A$0.1988 and A$0.1915.

The extensions near A$0.2956 and A$0.3087 provide probable targets, with the minor extensions near A$0.3347 and A$0.3500 providing intermediate take-profit zones.

3. SushiSwap (SUSHI)

SushiSwap SUSHI is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralised exchanges that use smart contracts to create markets for any given pair of tokens. SushiSwap aims to diversify the AMM market and also add features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI.

SUSHI Price Analysis

At the time of writing, SUSHI is ranked the 74th cryptocurrency globally and the current price is A$8.70. Let’s take a look at the chart below for price analysis:

Source: TradingView

SUSHI‘s 122% May rally has retraced to the move’s 80% retracement before spending the second half of the month, plus June and July, accumulating above support beginning near A$7.55.

Last week’s dip to retest the 26.5% retracement created potential support near A$6.89, with the early part of this week testing the weekly level at A$6.64 as support. A quick dip in this region could give bulls an excellent entry targeting the first probable resistance at A$6.32. 

A break of this level might run to the resistance and last swing high at A$9.85. If the swing high breaks, monthly highs at A$10.59, A$11.53 and A$12.62 provide the next likely targets. Beyond A$12.90, the price could see a parabolic move to the next monthly high near A$13.41.

Traders taking regular profits could use the extensions at A$13.95, A$14.38 and A$15.22 for probable intermediate resistance zones.

Where to Buy or Trade Altcoins?

These three 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.

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Binance Crypto News IOTA Market Analysis Ontology Swyftx Trading

Top 3 Coins To Watch Today: DOT, ONT, MIOTA – July 20 Trading Analysis

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 sharing 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. 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 9th cryptocurrency globally and the current price is A$15.65. Let’s take a look at the chart below for price analysis:

Source: TradingView

DOT set a new low in its downtrend last week, reaching a nearly 77% retracement from its May high.

The most recent move down found some support in the daily gap beginning near A$16.05, although this level is unlikely to end the bear trend. The weekly level around A$13.63 may offer more substantial support. Continuation to the monthly level near A$9.78 provides a higher probability target for the current bear trend.

Resistance begins near the current level at A$17.43, which might be tapped this week or next week before the next leg is lower. A more substantial rally could reach the consolidation beginning around A$19.68. 

Any sustained bullish move in Bitcoin might prompt a stop run above the swing high at A$24.11. This price also marks a resistance level on the weekly chart.

2. Ontology (ONT)

Ontology ONT is a high-performance, open-source blockchain specialising in digital identity and data. Ontology’s unique infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering businesses the flexibility to design a blockchain that suits their needs. With a suite of decentralised identity and data sharing protocols to enhance speed, security, and trust, Ontology’s features include ONT ID, a mobile digital ID application and DID use throughout the ecosystem, and DDXF, a decentralised data exchange and collaboration framework.

ONT Price Analysis

At the time of writing, ONT  is ranked the 94th cryptocurrency globally and the current price is A$0.8311. Let’s take a look at the chart below for price analysis:

Source: TradingView

ONT found a low during late June inside weekly support after a nearly 83% drop.

Bulls could step in on the current retest of this region again, with A$0.82 possibly becoming support on the daily chart. However, a sweep of the equal lows near A$0.69, perhaps reaching A$0.57, is likely before any significant bullish trend reversal. If this stop run occurs, bulls might enter near A$0.56.

A break of the resistance near A$0.92 could continue through the July monthly open to run the relatively equal highs clustered just beneath the A$1.07 swing high. If this retracement occurs, high-timeframe resistance near A$1.14 and A$1.19 may be the target before the price resumes its downtrend or begins a higher-timeframe reversal.

If the market shifts to more bullish conditions, the swing high near A$1.91 and a wide area of resistance near A$1.84 will likely cap the first impulse.

3. IOTA (MIOTA)

IOTA is a distributed ledger with one big difference – it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. The foundation behind this platform says this offers far greater speeds than conventional blockchains – and an ideal footprint for the ever-expanding Internet of Things ecosystem.

IOTA Price Analysis

At the time of writing, IOTA is ranked the 45th cryptocurrency globally and the current price is A$0.8666. Let’s take a look at the chart below for price analysis:

Source: TradingView

After dropping nearly 77% from its April highs, IOTA hovers near its June low at around A$0.85.

While the downtrend continues, bulls might find some support near A$0.74, the approximate bottom of the monthly gap. However, while the market stays bearish, continuation to the weekly level at A$0.64 and the monthly level near A$0.51 seems likely.

Short-term rallies might reach A$1.04, although a more substantial retracement of the bearish trend could run the swing high into resistance around A$1.27. If the markets turn more bullish, the rally could run the swing highs at A$1.60 and A$2.02. 

If this move occurs, the daily gap and monthly level near A$2.27 may provide a ceiling.

Where to Buy or Trade Altcoins?

These three coins have the 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.

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Binance Cardano Crypto News Ethereum Classic Market Analysis Swyftx Trading

Top 3 Coins To Watch Today: ADA, ETC, TEL – July 19 Trading Analysis

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. Cardano (ADA)

Cardano ADA is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software.

ADA Price Analysis

At the time of writing, ADA is ranked the 5th cryptocurrency globally and the current price is A$1.60. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA’s 40% July rally could be setting up a more significant bullish move for the rest of the quarter.

Last week, the support beginning near A$1.55 launched a move to the resistance starting near A$1.75. This move failed to close below the previous swing high. However, it did create probable support underneath the high near a monthly level around A$1.90.

Aggressive bulls could enter near this recently formed support. The last swing high at A$1.97 gives a first reasonable target. Bulls could hold for the second target at the set of relatively equal daily highs near A$2.17.

A daily close above the resistance from A$1.98 to A$2.10 could signal an extended move. Resistance at the EQ near A$2.25, a small price range near A$2.30, and probable resistance beginning at A$2.48 give potential take profit or turning points before the equal highs forming the primary objective at A$2.55.

2. Ethereum Classic (ETC)

Ethereum Classic ETC is a hard fork of Ethereum that launched in July 2016. Its main function is as a smart contract network, with the ability to host and support decentralized applications (DApps). Its native token is ETC. Since its launch, Ethereum Classic has sought to differentiate itself from Ethereum, with the two networks’ technical roadmap diverging further and further from each other with time.

ETC Price Analysis

At the time of writing, ETC  is ranked the 19th cryptocurrency globally and the current price is A$55.90. Let’s take a look at the chart below for price analysis:

Source: TradingView

ETC tore upward into price discovery last month before pausing at resistance near the main move’s 0.68 extension.

The price range beginning at A$40.27 provides the first potential support for an early-week dip. Just below this range, the previous swing high and accumulation near A$36.25 could provide more substantial support. 

A significant market drop could reach as low as the consolidation range beginning at A$30.68, supported by the January monthly open.

It’s impossible to predict where the price in discovery will go, but the last high at A$69.37 provides the first probable target. Extensions from the primary move hint at A$75.38, A$82.41, and A$86.28 as probable take-profit zones.

3. Telcoin (TEL)

Telcoin TEL is the native medium of exchange, reserve asset, and protocol token of the Telcoin user-owned, decentralized financial platform. TEL enables end-users to seamlessly access and power a global suite of user-owned, decentralized financial products. TEL incentives coordinate market participants, such as telecoms and active users, to provide specific value-added services to end-users of the platform.

TEL Price Analysis

At the time of writing, TEL is ranked the 84th cryptocurrency globally and the current price is A$0.01741. Let’s take a look at the chart below for price analysis:

Source: TradingView

June saw a 35% spike in TEL price into the resistance beginning near A$0.04329. This move swept July’s swing high, which might set the stage for retracement and reaccumulation.

The previous high and brief reaccumulation near A$0.02377 has so far provided support, making it a reasonable place for bulls to begin building positions. 

A deeper drop to run stops and test the daily gap beginning at A$0.01524 is likely to meet support. This area has a confluence with a monthly level and a consolidation zone.

Bulls could target the most recent swing high near A$0.02788. A break of this resistance zone is likely to reach near the old monthly high at A$0.03744. 

Resistance near $0.03575 could cause the price to pause. However, a break of this level is likely to proceed to resistance under the next monthly high, near A$0.04137.

Where to Buy or Trade Altcoins?

These three coins have the 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.