Author: Malik Junaid

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

Categories
Crypto News IOTA Market Analysis Trading

3 Coins that Might Breakout this Week: ICX, MIOTA, WIN – Altcoins Trading Analysis

For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.

1. ICON (ICX)

ICON is a decentralized blockchain network focused on interoperability. With ICON’s “blockchain transmission protocol”, independent blockchains like Bitcoin and Ethereum can connect and transact with each other. This opens up cross-chain use cases that are impossible without an interoperability layer like ICON.

ICX Price Analysis

At the time of writing, ICX is ranked 79th cryptocurrency globally and the current price is $2.73 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

During the weekend it swung around $2.4150 AUD as it tested support near $2.1201 AUD.

Aggressive traders expecting expansion to the upside could look for entries near possible support around $2.2762 AUD. Bids near $2.1201 AUD may be able to capitalize on an attempt to run the stops below the weekend’s swing low. A stop run below this low may reach into possible support near $1.9500 AUD.

In the short term, $2.9426 AUD may provide some resistance. The swing high near $3.2700 AUD looks like a first target, with the area just above up to $3.5500 AUD possibly creating resistance.

A break out of this zone would make the March high at $3.6170 AUD a more likely target, with further expansion possibly reaching near $5.3226 AUD.

2. IOTA (MIOTA)

IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, it relies on a technology 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 24th cryptocurrency globally and the current price is $2.68 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

The weekend’s 31% drop was immediately bought up and closed the day bullish, suggesting strength for IOTA bulls.

Aggressive traders could look for support near $2.4215 AUD. Levels near $2.2970 AUD, $2.1851 AUD, and $1.9773 AUD also provide areas for bids during a retracement.

Little resistance rests overhead, but the area between $2.8593 AUD and the swing high at $2.9773 AUD may cap an initial move upward. Extensions seem to indicate $3.2283 AUD and $3.8425 AUD as take-profit zones.

3. WINK (WIN)

WINk is a gaming platform for users to play socialize and stake across multiple blockchain ecosystems that leverages the WIN token as the native digital asset within the platform. Through behavioural mining, innovative token economy design and other incentive mechanisms, WINk aims to build an ecosystem that provides a high-quality decentralized gaming experience. This would enable developers to build DApps that drive genuine adoption, engaging users to participate and contribute as active stakeholders in the platform.

WIN Price Analysis

At the time of writing, WINK is ranked 134th cryptocurrency globally and the current price is $0.0017 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

An impressive 463% month for WIN has retraced over 56% as the price consolidates near the weekly gap beginning near $0.001701 AUD.

The equal lows at this weekly gap might see a stop run before any further move up. The area near $0.00109 AUD at the top of a daily gap could provide support.

The bottom of the gap seems a more likely support, ranging from approximately $0.0009664 AUD to the consolidation that started the massive move upward. If this level fails, traders could look for sensitivity near the middle of the monthly gap near $0.0006308 AUD.

Impulses upward during retracement are possible, but the most substantial resistance seems just below the April swing high near $0.002971 AUD. This swing high provides a clear first target, with any targets beyond challenging to predict.

Where to Buy or Trade Altcoins?

These 3 Altcoins have the highest liquidity on Binance Exchange so that could help for trading on USDT or BTC pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.

Categories
Crypto News Dogecoin Market Analysis Trading

Dogecoin Just Surged 90% in a day, But Why?

Dogecoin is trading in an active uptrend and strong trading volume today, like many other altcoins. The cryptocurrency DOGE just went up +90% in a single day and surges over +125% in a week and +6450% in a year. Let’s take a quick look at the Dogecoin price analysis and possible reasons for the recent breakout.

What is Dogecoin?

Dogecoin (DOGE) is based on the popular “Doge” Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013.

Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favourite coin.

DOGE Price Analysis

At the time of writing, DOGE is ranked 10th cryptocurrency globally and the current price is $0.1716 AUD. This is a +125% increase since 7 April 2021 (a week ago) as shown in the chart below.

Source: TradingView

After looking at the above 1-day candle chart, we can clearly see that Dogecoin was trading sideways on a DOGE/USDT pair. The first resistance was on the $0.0954 AUD price levels which DOGE broke with a strong bullish trend buying volume and is now heading towards current resistance at $0.1705 AUD after making a new all-time high price today. As other altcoins are waking up bullish today, DOGE might continue the uptrend with its hype going around.

Source: TradingView

The two green lines that appear in the graph represent the previous resistance and support levels of  DOGE/USDT relate to previous bull run from early February.

What do the Technical Indicators say?

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

So Why did DOGE Breakout?

General market sentiment seems to suggest cryptos are in the middle of the bull run season, which could have contributed to the recent breakout. Another reason for this sudden pump in price could be whales secretly buying Dogecoin for the next altcoins rally.

Also, a Miami nightclub recently announced they accept Dogecoin enabling payments in crypto. E11EVEN MIAMI, the award-winning 24/7 ultra club located in the heart of Downtown Miami, is one of the first major nightclubs in the USA to accept cryptocurrencies as a form of payment and Dogecoin is also into the list.

Recent DOGE News & Events:

Where to Buy or Trade Dogecoin?

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

Categories
Crypto News Ethereum Market Analysis Trading

3 Coins that Might Breakout this Week: BTT, ETH, NPXS – Altcoins Trading Analysis

For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.

1. BitTorrent (BTT)

BitTorrent is a popular peer-to-peer (P2P) file sharing and torrent platform which has become increasingly decentralized in recent years. According to its official literature, BitTorrent is currently the “largest decentralized P2P communications protocol” in the world.

The platform has seen multiple legal battles, with Cohen maintaining that it does not break copyright laws in allowing users to share files such as music and movies among themselves.

BTT Price Analysis

At the time of writing, BTT is ranked 27th cryptocurrency globally and the current price is $0.0104 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

BTT’s explosive March climbing over +1,100% retraced nearly half of the move within a week.

While the price possibly needs to cool off before any significant move higher, stubborn bulls could look for entries in possible support beginning near $0.0093 AUD.

A break below $0.0084 AUD might to continue to an area near $0.0068 AUD. Strong bearish momentum might push the price through April’s monthly open to possible support near $0.0049 AUD.

In both bullish and bearish scenarios, it seems reasonable (but not guaranteed) to anticipate a retest of resistance near $0.0125 AUD, which would sweep a cluster of relatively equal highs near $0.0128 AUD.

Continued strength above this area could continue to resistance near $0.0144 AUD and the high near $0.0155 AUD.

2. Ethereum (ETH)

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.

Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime, and fraud.

Ethereum Price Analysis

At the time of writing, ETH is ranked 2nd cryptocurrency globally and the current price is $2,843 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

Since the beginning of March, ETH has climbed +70%, a relatively small amount compared to many other altcoins. However, the price continues to creep to new all-time highs, suggesting that the consolidation period may be near its end.

Aggressive bulls could look for entries in new possible support between $2,796 AUD and $2,683 AUD. A dip below this area might also find support near $2,583 AUD. However, a daily close near $2,605 AUD brings bullish strength into question.

A sudden drop in the market could test possible support beginning near $2,410 AUD. This retracement would create extensions suggesting $3,987 AUD to 3,998 AUD as a potential target for bulls.

Currently, extensions indicate a reasonable take-profit zone near $3,388 AUD to $3,684 AUD with $3,652 AUD having the most confluence. If bulls can maintain strength, confluent extensions point to $4,225 AUD – $4,300 AUD as a possible next target.

3. PundiX (NPXS)

PundiX is a leading developer of blockchain-powered devices with the aim of transforming retail businesses with its blockchain-based point of sale solution. The solution allows retail merchants and consumers to conduct instantaneous in-store transactions on its blockchain.

NPXS Price Analysis

At the time of writing, NPXS is ranked 88th cryptocurrency globally and the current price is $0.006301 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView Note: NPXS recently changed to PUNDIX. This analysis is done on the old NPXS charts since the old chart contains more historical price action. Multiply the NPXS values given here by 100 for the approximate levels on the PUNDIX chart.

March 1st spawned a bullish move in NPXS, reaching over +430%. Chaotic price action near the top of this move resolved into a nearly 50% retracement.

Multiple breaks of swing lows between sweeps of swing highs suggest that the market structure has turned bearish for the immediate future. If the overall market’s conditions remain bullish, this could result in consolidation somewhere below the current price.

Possible support for the start of consolidation rests near $0.005967 AUD. A set of equal lows below this level might be swept into possible support, beginning near $0.005038 AUD.

Another spike upward is possible, but not guaranteed, as the price retraces. The area just under the April monthly open, beginning near $0.009644 AUD, seems a reasonable target. Above this resistance, the last swing high near $0.01254 AUD provides active uptrend.

Where to Buy or Trade Altcoins?

These 3 Altcoins have the highest liquidity on Binance Exchange so that could help for trading on USDT or BTC pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.

Categories
Crypto News Market Analysis Ripple Trading

XRP Surges Above $1 As Ripple Lawsuit Legal Win

Ripple XRP is trading in an uptrend like many other altcoins. The Cryptocurrency XRP just went up +72% in a week by breaking a Rising wedge pattern with strong buying volume and surges over +105% in a month.

What is XRP?

Ripple (XRP) is one of the fastest and most scalable digital assets, enabling real-time global payments anywhere in the world. The RippleNet payment platform is a real-time gross settlement (RTGS) system that aims to enable instant monetary transactions globally. While XRP is the cryptocurrency native to the XRP Ledger, you can actually use any currency to transact on the platform.

XRP Price Analysis

At the time of writing, XRP has ranked the 4th cryptocurrency globally and the current price is $1.25 AUD. This is a +72% increase since 1st April 2021 (7 days ago) as shown in the chart below.

Source: TradingView

For now, XRP/USDT has formed some solid bullish signs, not only on the lower timeframes but also on the 12-hour chart – possibly the origin for the suggested targets to reach within the upcoming schedule. XRP/USDT seems to bounce off the black line cluster: taking off from there might provide a great origin for upside targets to be reached.

The first resistance was on the $0.85 AUD price levels which XRP broke with a strong bullish trend buying volume and is now heading towards the next resistance price at $1.35 AUD. Seeing that many altcoins are holding strong this week, XRP will possibly continue the bullish trend.

Source: TradingView

What do the Technical indicators say?

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

So why did XRP breakout?

General market sentiment seems to suggest many cryptos are in the middle of a bull run season, which could have contributed to the recent breakout. Another reason for this sudden pump in price could be whales secretly buying XRP for this Altcoins rally. It could also have contributed to some of the recent news regarding Ripple’s Letter regarding Motion to Seal with Proposed Redacted Exhibits.

The first redaction is an email between Ripple CEO Brad Garlinghouse and an anonymous person about Rippleworks, the company’s non-profit VC arm. The second is between anonymous parties discussing the public perception of XRP and Ripple’s control of it.

Recent XRP News & Events:

Where to Buy or Trade XRP?

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

Categories
Crypto News Market Analysis

3 Coins that Might Breakout this Week: AVAX, EGLD, MRPH – Altcoins Trading Analysis

For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.

1. Avalanche (AVAX)

Avalanche is an umbrella platform for launching decentralized finance (DeFi) applications, financial assets, trading, and other services. Avalanche provides decentralized asset trading which anyone can launch and use, and does so with a network that is unique in the digital realm in providing subsecond transaction confirmations.

The AVAX token forms the in-house payment method for Avalanche and is used for fee collection during transactions, as well as for incentives and related purposes. Users can also earn passive income by staking their coins on the network.

Avalanche Price Analysis

At the time of writing, AVAX is ranked 33rd cryptocurrency globally and the current price is $44.72 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

AVAX followed February’s +380% move with a slower March, consolidating in a +68% range.

Aggressive bulls could look for entries near support and the April monthly open around $39.14 AUD. A significant downturn in the market would likely hunt stops near the weekly level around $34.32 AUD, with a more substantial drop to sweep stops and find support near $30.08 AUD.

Traders could look for first profits between the last swing high near $41.55 AUD and probable resistance beginning near $44.20 AUD. Bulls could propel the price to the swing high near $50.30 AUD, possibly reaching resistance near $57.96 AUD.

A solid bullish move could sweep the highs cluster around $52.98 AUD into probable resistance near $60.75 AUD. The final resistance before price discovery seems to wait near $68.37 AUD.

2. Elrond (EGLD)

Elrond is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency, and a $0.001 transaction cost.

Elrond Price Analysis

At the time of writing, EGLD is ranked 42nd cryptocurrency globally and the current price is $217.33 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

Similar to AVAX, EGLD’s explosive February rally retraced into consolidation through most of March.

Bulls look strong as they break through highs and create new support. The daily gap beginning near $215.26 AUD might offer an aggressive entry just above possible support near $202.30 AUD. 

A more decisive move to the downside might sweep stops into support near $190.58 AUD, while a sharp downturn in the market could reach stops near the monthly gap around $175.32 AUD.

Price seems to be consolidating under resistance near $220.73 AUD, making the swing high at $235.62 AUD a first target for the bulls. Breaking this high might test resistance at $250.33 AUD, possibly followed by a move to the swing high near $290.95 AUD and into price discovery.

3. Morpheus.Network (MRPH)

Morpheus.Network optimizes supply chains. This is accomplished with their SaaS middleware platform seamlessly integrating legacy and emerging technologies while providing supply chain managers with a Digital Footprint, providing shipment and item visibility for automating safe and secure supply chains, saving time and money.

The platform creates a digital representation of a supply chain by turning information into actionable data and notarizing the actions and events and completion of supply chain processes using distributed ledger technology.

MRPH Price Analysis

At the time of writing, MRPH is ranked 357th cryptocurrency globally and the current price is $3.80 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

Following the pattern of AVAX and EGLD, MRPH seens retracing from a test of resistance near $3.82 AUD.

Monday’s sweep of the last swing low into support near $3.35 AUD could set the stage for the next leg higher. A safer entry might be found near $3.10 AUD, although this move could reach down as far as $2.90 AUD. The cluster of multiple lows near $2.40 AUD looks like an appealing target for a stop run into support around $2.35 AUD.

Bulls could target the $4.28 AUD swing high, with a break likely reaching into the next resistance near $4.47 AUD. The swing high around $5.23 AUD provides the last target before the next stage of price discovery.

Where to Buy or Trade Altcoins?

These 3 Altcoins have the highest liquidity on Binance Exchange so that could help for trading on USDT or BTC pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.

Categories
Crypto News Market Analysis NFTs Trading

Filecoin pumps +52% in a Single Day amid Partnership with new NFT Ecosystem

File coin is trading in an uptrend here like many other altcoins. The Cryptocurrency Filecoin just went up +52% in a single day by breaking a Rising wedge pattern with strong buying volume and surges over +135.74% in a week.

What is Filecoin?

Filecoin is a system that hosts data in a decentralized manner with the goal of storing “humanity’s most important information.” Unlike cloud-storage companies which are prone to the problems of centralization, Filecoin leverages its decentralized nature to protect the integrity of a data’s location, keeping it easily retrievable and hard to censor.

Filecoin Quick Stats

SYMBOL:FIL
Global rank:9
Market cap:$18,203,679,833 AUD
Current price:$289.51 AUD
All time high price:$296.30 AUD
1 day:+52.38%
7 day:+135.74%
1 year:+5405.74%

Filecoin Price Analysis

At the time of writing, Filecoin is ranked 9th cryptocurrency globally and the current price is $289 AUD. This is a +135.74% increase since 26th March 2021 (7 days ago) as shown in the chart below.

Source: TradingView

After looking at the above 4-hour candle chart, we can clearly see that Filecoin was trading inside the Rising wedge pattern on the FIL/USDT pair. The first resistance was on the $220 AUD price levels which Filecoin 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 strong this week, Filecoin is likely to continue to increase in the uptrend if the traders keep buying with high volume.

“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”

What do the Technical indicators say?

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

So Why did Filecoin Breakout?

General market sentiment seems to suggest cryptos are in the middle of the bull run season, which could have contributed to the recent breakout. Another reason for this sudden pump in price could be whales secretly buying Filecoin for the next Altcoins rally. It could also have contributed to some of the recent news regarding partnership with the new NFT Ecosystem.

Investment giant Grayscale recently launched a Filecoin trust, looking at purchasing FIL tokens and offering institutional investors the FIL-backed shares. Soon after, the trust attracted interest from mainstream investors: ByBt.com data showed that Grayscale Filecoin Trust added 45,550 FIL to its reserves.

Read more Filecoin News.

Where to Buy or Trade Filecoin?

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

Categories
Crypto News Market Analysis Trading

NPXS Coin Pumps +74% in a Single Day Amid Token Swap into PundiX Rebrand

The Cryptocurrency NPXS just went up +74% in a single day by breaking a Rising wedge pattern with strong buying volume and surges over +120% in a week.

What is NPXS?

Pundi X (NPXS) aims to make the use of cryptocurrency as a form of payment, a reality for retailers and consumers alike. By applying the technology to a series of real-world use cases such as cards and the XPOS point-of-sale devices, the team has built products that could accept the NPXS token for goods and services. With the goals of supporting retail intelligence, marketing & loyalty programs as well as inventory & order management systems, the Pundi X Point-of-Sale device could help to support digital commerce worldwide.

NPXS Quick Stats

SYMBOL:NPXS
Global rank:74
Market cap:$1,483,133,873 AUD
Current price:$0.007274
All time high price:$0.0201 AUD
1 day:+74.41%
7 day:+120.79%
1 year:+4313.95%

NPXS Price Analysis

At the time of writing, NPXS is ranked 74th cryptocurrency globally and the current price is $0.007274 AUD. This is a +120.79% increase since 13th March 2021 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 1-hour candle chart, NPXS did a strong parabolic breakout from the rising wedge pattern while trading sideways from the last few days around $0.005624 AUD price levels & is now heading towards its major resistance around $0.009588 AUD. After BTC made a new all-time high in its price and Altcoins are also rising in a bullish trend, NPXS looks well-positioned to hit the next high price levels.

“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”

What do the technical indicators say?

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

So Why did NPXS Breakout?

General market sentiment suggests we are in the middle of the bull run season which could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying NPXS for the next Altcoins rally & it could also be contributed to some of the recent news of the token redenomination swap on 30th March 2021.

Recent NPXS News & Events:

Where to Buy or Trade NPXS?

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

Categories
Crypto News Litecoin Market Analysis Stellar Trading VeChain

3 Coins that Might Breakout this Week: LTC, VET, XLM – Altcoins Trading Analysis

For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.

1. Litecoin (LTC)

Litecoin is a cryptocurrency that was 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.

Litecoin Price Analysis

At the time of writing, LTC is ranked 9th cryptocurrency globally and the current price is $261.43 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

March brought an instant turn in LTC’s retracement as the price pumped nearly +41% into the resistance near $256 AUD.

A daily gap and down candle between $238 AUD and $215 AUD may support a push through the high of around $297 AUD.

Bulls looking for longer-term plays could wait for a retracement to probable support near $210 AUD and potentially down to support at $195 AUD.

Extensions based on February’s retracement suggest that $385 AUD and $470 AUD may be the following primary targets. The swing high’s resistance near $296 AUD provides a logical area to take first profits.

2. VeChain (VET)

VeChain 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.

VeChain Price Analysis

At the time of writing, VET is ranked 18th cryptocurrency globally and the current price is $0.0983 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

VET shot up nearly +84% from the February open as the price aggressively challenges the last high and resistance near $0.0985 AUD.

Bulls waiting to get on board could watch support near $0.0853 AUD, just above the series of swing highs near $0.0834 AUD.

A deeper retracement to end the month could reach as low as $0.0755 AUD, which would run the swing lows down to $0.0735 and provide a better entry.

Overlapping extensions hint at the areas around $0.1145 AUD and $0.1250 AUD as logical take-profit zones.

3. Stellar (XLM)

Stellar is an open network that allows money to be moved and stored. One of its goals was boosting financial inclusion by reaching the world’s unbanked — but soon afterward, its priorities shifted to helping financial firms connect with one another through blockchain technology.

The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers, who often charge high fees for a similar service.

Stellar Price Analysis

At the time of writing, XLM is ranked 13th cryptocurrency globally and the current price is $0.4919 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

XLM’s bullish February turned into March consolidation, which is likely to break upward if market conditions remain bullish.

Support may be forming around the current area near $0.5021 AUD, giving bulls an aggressive entry with a wide stop.

A sweep of February 23rd’s low near $0.4125 AUD into the support just below would give a much higher risk-reward entry. If the price drops this far, it could reach support near $0.3846 AUD.

Overhead, several layers of resistance rest near $0.5381 AUD, $0.6137 AUD, and $0.6641 AUD. Confident bulls could take profits at the swing highs accompanying this resistance. 

More patient bulls waiting for higher risk-reward entries could watch for setups to form in potential retracements from these levels.

Where to Buy or Trade Altcoins?

These 3 Altcoins have the highest liquidity on Binance Exchange so that would help for trading on USDT or BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is an easy to use popular choice in Australia.

Categories
Crypto News Market Analysis Trading

VITE Coin pumps +80% in a Single Day amid Integration with Binance Smart Chain

Vite coin is trading in an uptrend here like many other altcoins. The Cryptocurrency VITE just went up +80% in a single day by breaking a Falling wedge pattern with strong buying volume and surges over +123% in a week.

What is Vite?

Vite has built a Directed Acyclic Graph (DAG) based smart-contract platform, with a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. The Snapshot Chain of Vite utilizes Hierarchical Delegated Proof of Stake (“HDPoS”) to achieve network consensus, while supernodes take only staking rewards and no transaction fees. Vite virtual machine maintains compatibility with EVM, and utilizes asynchronous smart contract language, Solidity++.

The VITE token is the currency for simple token transactions and smart-contract executions on the Vite network, with users staking VITE for transaction quota instead of consuming gas. VITE can also be used to vote for Snapshot Block Producers (aka supernodes). In addition, a VITE staker with an unused transaction quota can lease such quota to dApps in exchange for their tokens. For instance, users can stake VITE in exchange for ViteX’s native decentralized exchange token, VX.

VITE Quick Stats

SYMBOL:VITE
Global rank:395
Market cap:$84,847,245 AUD
Current price:$0.1867 AUD
All time high price:$0.2203 AUD
1 day:+80.38%
7 day:+123.96%
1 year:+814.94%

VITE Price Analysis

At the time of writing, VITE is ranked 395th cryptocurrency globally and the current price is $0.1867 AUD. This is a +123.96% increase since 4th March 2021 (7 days ago) as shown in the chart below.

Source: TradingView

After looking at the above candle chart, we can clearly see that VITE was trading inside the falling wedge pattern on the VITE/BTC pair. The first resistance was on the $0.1146 AUD price levels which VITE 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 strong this week, VITE is likely to 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?

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

So Why did VITE Breakout?

General market sentiment suggests we are in the middle of the bull run season which could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying VITE for the next Altcoins rally & it could also be contributed to some of the recent news of the VITE Integration with Binance Smart Chain.

Recent VITE News & Events:

Where to Buy or Trade VITE?

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

Categories
Cardano Crypto News Market Analysis Trading

3 Coins that Might Breakout this Week: ADA, DUSK, KAVA – Altcoins Trading Analysis

For today’s trading news, we’re looking at three Altcoins that might breakout this week by showing bullish trends in the charts.

1. Cardano (ADA)

Cardano 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 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 Price Analysis

At the time of writing, ADA is ranked 3rd cryptocurrency globally and the current price is $1.60 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

February provided respectable +348% gains for bulls who bought at the monthly open, with the price finding resistance near $1.58 AUD last Saturday.

If bulls take back control this week, the top of the former gap beginning at $1.36 AUD may provide support for at least a short-term bounce. The top of the consolidation range starting near $1.25 AUD is more likely to provide substantial support.

The most robust support is likely to be found in the overlapping consolidation ranges between $1.12 AUD and $0.95 AUD, with a sharp slice through these levels possibly suggesting the end of the bull run.

The region from approximately $1.46 AUD to the most recent swing high is likely to provide some resistance. The swing high provides a reasonable first target for a possible next leg up.

If this high breaks, the 1.0 extension near $2.28 AUD and the 2.0 extension near $2.86 AUD may provide the next primary targets.

2. Dusk Network (DUSK)

Dusk Network describes itself as a blockchain for programmable and confidential securities, powered by Zero-Knowledge proofs and novel Private PoS leader extraction-based consensus protocol. Dusk Network is a privacy blockchain for financial applications. It is a layer-1 blockchain that powers the Confidential Security Contract (XSC) standard and supports native confidential smart contracts.

Dusk Network aims to address the requirements and needs of financial markets. Central to its design is a scalable public infrastructure, direct settlement finality of transactions, and strict data privacy.

DUSK Price Analysis

At the time of writing, DUSK is ranked 292nd cryptocurrency globally and the current price is $0.3312 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

Last month’s bulls enjoyed +300% gains at DUSK’s peak before the price confirmed stiff resistance beginning at $0.2876 AUD.

The four-hour chart shows that support may be forming between $0.2263 AUD and $0.2498 AUD, near the monthly open.

Aggressive bulls could enter in this area, although safer entries may be found much further below near $0.1670 AUD and $0.1473 AUD after a sweep of the current consolidation’s swing lows.

The last swing high near $0.3288 AUD provides a likely first target if the price does bounce from this region. Beyond this swing high, the 1.0 extension near $0.5824 AUD and the 2.0 extension near $0.7957 AUD may provide the next major targets.

3. Kava.io (KAVA)

Kava is a cross-chain DeFi lending platform that allows users to borrow USDX stablecoins and deposit a variety of cryptocurrencies to begin earning a yield.

The Kava DeFi hub operates as a decentralized bank for digital assets, allowing users to access a range of decentralized financial services, including its native USD-pegged stablecoin USDX, as well as synthetics and derivatives. Through Kava, users are able to borrow USDX tokens by depositing collateral, effectively leveraging their exposure to crypto-assets.

KAVA Price Analysis

At the time of writing, KAVA is ranked 128th cryptocurrency globally and the current price is $5.26 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

KAVA’s +161% February run retraced almost to its origin, narrowly missing probable support near $3.98 AUD before bears swatted down the bounce near resistance around $4.85 AUD.

With the daily gap between $3.66 AUD and $3.75 AUD below this level. However, the safer entry is still in probable support between $3.90 AUD and $3.83 AUD, which would also sweep the lows of last week’s bounce.

The relatively equal highs near $5.45 AUD provide a likely first target on lower timeframes. However, the resistance beginning at $5.33 AUD may initially suppress a further move up.

A clean breakthrough this resistance will need to contend with the next resistance near $5.40 AUD, under the last swing high. This swing high at $5.80 AUD gives a reasonable take-profit area before a possible move to the 1.0 extension near $8.55 AUD.

Where to Buy or Trade Altcoins?

These 3 Altcoins have the highest liquidity on Binance Exchange so that would help for trading on USDT or BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.