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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Crypto News DigiByte Market Analysis Trading

DigiByte Breakout Analysis – DGB Pumps +43% in a Single Day

DigiByte DGB just pumped up to +43% in a single day with a strong breakout on Binance & other Exchanges. Let’s take a quick look at DGB, price analysis, and possible reasons for the recent breakout.

What is DigiByte?

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 Quick Stats

SYMBOL:DGB
Global rank:51
Market cap:$533,221,821 AUD
Current price:$0.0379 AUD
All time high price:$0.1880 AUD
1 day:+43.25%
7 day:+61.39%
1 year:+416.71%

DigiByte Price Analysis

At the time of writing, DGB is ranked 51st cryptocurrency globally and the current price is $0.0379 AUD. This is a +61.39% increase since 21st December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 4-hour candle chart, DGB did a strong breakout from the falling wedge pattern at $0.0285 AUD price levels & is now heading towards its major resistance of the month. After BTC made a new all-time high in its price and Altcoins are also rising in a bullish trend, DGB looks well-positioned to hit the next high price levels.

“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 DigiByte TradingView indicators (on the 1 day) mainly indicate DGB as a buy, except the Oscillators which indicate DGB as a neutral.

So Why did DGB Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying DGB for the next Altcoins rally & it could also be contributed to some of the recent news from Top DigiByte Influencers.

Recent DGB News & Events:

Where to Buy or Trade DGB?

DigiByte has the highest liquidity on Binance Exchange so that would help for trading DGB/BTC or DGB/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

Theta Fuel Breakout Analysis – TFUEL Trading in Active Uptrend with +90% Gains in a Week

Theta Fuel is trading in active uptrend here like many other altcoins. The Cryptocurrency TFUEL just went up +61% in a single day and surges over +90% in a week.

What is Theta Fuel?

Theta Fuel is the second token (gas token) of the Theta Network. Theta Fuel is a native token on the Theta blockchain. TFUEL powers on-chain operations like payments to relayers for sharing a video stream, or for deploying or interacting with smart contracts. Relayers earn TFUEL for every video stream they relay to other users on the network.

TFUEL Quick Stats

SYMBOL:TFUEL
Global rank:83
Market cap:$211,050,362 AUD
Current price:$0.0431 AUD
All time high price:$0.0478 AUD
1 day:+60.29%
7 day:+90.45%
1 year:+1149.69%

TFUEL Price Analysis

At the time of writing, TFUEL is ranked 83rd cryptocurrency globally and the current price is $0.0431 AUD. This is a +90.45% increase since 20th December 2020 (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 TFUEL was trading inside the falling wedge pattern on the TFUEL/BTC pair. The first resistance was on the $0.03547 AUD price levels which TFUEL broke with a strong bullish trend buying volume and is now heading towards its all-time high price. Seeing that many altcoins are waking up bullish today, TFUEL is likely to continue the uptrend.

“The falling wedge pattern is a continuation pattern formed when price bounces between two downward slopings, converging trendlines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns – depending on where it appears in the trend”

Source: TradingView

What do the Technical Indicators say?

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

So Why did TFUEL Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up TFUEL to their portfolio for this Altcoins rally. It could also be contributed to some of the recent news of ThetaTV Launching NFT’s.

Recent TFUEL News & Events:

Where to Buy or Trade TFUEL?

Theta Fuel has the highest liquidity on Binance Exchange so that would help for trading TFUEL/USDT or TFUEL/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 Trading

Synthetix Breakout Analysis – SNX Trading in Active Uptrend with +52% Gains in a Week

Synthetix SNX has already gone up over +52% this month, and the trading analysis suggests that there might be another wave incoming. Let’s take a look at SNX and what the charts are telling us about price analysis, and possible reasons for the recent breakout.

What is SNX?

Synthetix is a derivatives liquidity protocol on Ethereum that enables the issuance and trading of synthetic assets. Each synthetic asset (or Synth) is an ERC20 token that tracks the price of an external asset; for example, each USD token tracks the price of the US dollar and unlike the other synthetic assets, is fixed at 1. A wide variety of Synths exists within Synthetix, including fiat currencies, cryptocurrencies, commodities, and inverse indexes. In principle, the system can support any asset with a clear price and provides on-chain exposure to an unlimited range of real-world assets. The protocol will enable a variety of trading features including binary options, futures, and more.

SNX Quick Stats

Symbol:SNX
Global rank:33
Market cap:$1,147,454,062 AUD
Current price:$10.79 AUD
All time high price:$14.30 AUD
1 day:+29.61%
7 day:+52.08%
1 year:+472.56%

SNX Price Analysis

At the time of writing, SNX is ranked 33rd cryptocurrency globally and the current price is $10.79 AUD. This is a +52.08% increase since 17th December 2020 (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 SNX was trading inside the rising wedge pattern on the SNX/USDT pair. The first resistance was on the $7.12 price level which SNX broke with a strong bullish trend buying volume and is now heading towards the all-time high price. Seeing that many altcoins are waking up bullish today, SNX is likely to continue to increase in the uptrend.

‘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.”

Source: TradingView

What do the Technical indicators say?

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

So Why did SNX Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up SNX to their portfolio for this Altcoin rally. It could also be contributed to some of the recent news of Synthetix Staking DApp Launch.

Recent Synthetix News & Events:

Where to Buy or Trade SNX?

SNX has the highest liquidity on Binance Exchange so that would help for trading SNX/USDT or SNX/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 Trading

UMA Breakout Analysis – Parabolic Breakout on UMA with +53% Gains in a Week

UMA is trading in uptrend here like many other altcoins. The Cryptocurrency UMA just went up +44% in a single day by breaking a Descending triangle with strong buying volume and surges over +53% in a week.

What is UMA?

UMA, or Universal Market Access, is a protocol for the creation of synthetic assets based on the Ethereum blockchain. UMA was launched in December 2018. Synthetic assets are a class of assets that represent different, underlying assets and have the same value. UMA specifically enables its users to design and create self-executing, self-enforcing financial contracts secured by economic incentives and run them on Ethereum’s blockchain.

UMA Quick Stats

SYMBOL:UMA
Global rank:41
Market cap:$821,920,594 AUD
Current price:$14.73 AUD
All time high price:$36.63 AUD
1 day:+44.74%
7 day:+53.94%
1 year:+129.34%

UMA Price Analysis

At the time of writing, UMA is ranked 41st cryptocurrency globally and the current price is $14.73 AUD. This is a +53.94% increase since 16th December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 4-hour candle chart, UMA just bounced back from its support levels of $9.35 AUD and took a strong parabolic breakout from Descending Triangle within the next resistance which was at $11.61 AUD. The yellow line is acting as a support level for this Descending triangle trend.

“A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows”

Source: TradingView

What do the technical indicators say?

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

So Why did UMA Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some of the recent news of Mario.cash Launch.

Recent UMA News & Events:

Where to Buy or Trade UMA?

UMA has the highest liquidity on Binance Exchange so that would help for trading UMA/USDT or UMA/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 Initial Coin Offering Market Analysis Trading

Paris Saint Germain Fan Token Breakout Analysis – PSG Pumps +216% in a Single Day on Binance

After the launch of Fan Token on Binance Launchpad today, PSG took a strong Breakout with +216% gains in a single day. Let’s take a quick look at PSG, price analysis, and possible reasons for the recent breakout.

What is Fan Token?

Tokens are generally assets that can represent proof of ownership or even membership. As tokens are already being used for a wide range of purposes, many specialized blockchains have been developed with native intent to support tokens, the most common of which is currently Ethereum and their ERC standard tokens. Socios.com is an app for football (soccer) fans, where users acquire voting rights to influence the clubs they support by acquiring club-specific Fan tokens.

Fan Token Quick Stats

SYMBOL:PSG
Global rank:268
Market cap:$72,764,396 AUD
Current price:$49.78 AUD
All-time high price:$57.12 AUD
1 day:+216.26%
7 day:+399.70%
1 year:+399.70%

Fan Token Analysis

At the time of writing, PSG is ranked 268th cryptocurrency globally and the current price is $49.78 AUD. This is a +399.70% increase since the launch of its ICO at Binance Launchpad today (21st December 2020). Have a look at the chart below for price analysis.

Source: TradingView

After the launch of PSG on Binance Launchpad, It pumped up to $57.12 AUD having +399% gains in just a few hours and the initial opening price of PSG was $15.46 AUD at Binance Exchange with many different trading pairs like PSG/BTC, PSG/USDT, and PSG/BUSD.

Currently, PSG is trading at $49.78 AUD 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 PSG TradingView indicators (on the 1 day) mainly indicate PSG as a strong buy, except the Oscillators which indicate PSG as a neutral.

So Why did PSG Breakout?

After the opening at Binance Launchpad, mostly ICO’s pumps after going live on exchange for trade and, the recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some recent news of the PSG Token on Binance Listings.

Recent PSG News & Events:

Where to Buy or Trade Graph?

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

Categories
Crypto News Dogecoin Market Analysis Trading

DogeCoin Breakout Analysis – DOGE Pumps +51% in a Week with Strong Bullish Trend

Dogecoin is trading in active uptrend here like many other altcoins after Bitcoin made a new all-time high. The Cryptocurrency DOGE just went up +25.93% in a single day and surges over +51.13% in a week. 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 favorite coin.

DOGE Quick Stats

SYMBOL:DOGE
Global rank:43
Market cap:$830,033,722 AUD
Current price:$0.0064 AUD
All time high price:$0.0248 AUD
1 day:+25.94%
7 day:+51.13%
1 year:+136.66%

DOGE Price Analysis

At the time of writing, DOGE is ranked 43rd cryptocurrency globally and the current price is $0.0064 AUD. This is a +51.13% increase since 15th December 2020 (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 Dogecoin was trading inside the falling wedge pattern on the DOGE/BTC pair. The first resistance was on the $0.0049 AUD price levels which DOGE broke with a strong bullish trend buying volume and is now heading towards the next resistance at $0.0073 AUD & $0.0085 AUD respectively. Seeing that many altcoins are waking up bullish today, DOGE is likely to continue the uptrend.

“The falling wedge pattern is a continuation pattern formed when price bounces between two downward slopings, converging trendlines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns – depending on where it appears in the trend”

Source: TradingView

What do the Technical Indicators say?

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

So Why did DOGE Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up DOGE to their portfolio for this Altcoins rally. It could also be contributed to some of the recent news of Elon Musk’s Tweet about DOGE

Recent DOGE News & Events:

Where to Buy or Trade Dogecoin?

Dogecoin has the highest liquidity on Binance Exchange so that would help for trading DOGE/USDT or DOGE/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 IOTA Market Analysis Trading Zilliqa

Altcoins Trading Analysis – 3 Coins that Might Breakout Today: IOTA, UNI, ZIL

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

1. 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 31st cryptocurrency globally and the current price is $0.4395 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

The first half of December retraced most of IOTA’s November gains – but are bulls accumulating for the next move upward? Last Friday, the price bounced from a significant weekly level near $0.3758 AUD as it swept stops below the low near $0.3852 AUD. This move could be setting the stage for the first crack at resistance just under the December monthly open near $0.4105 AUD.

If this price move occurs, bulls will likely find entries at probable support near $0.3758 AUD – confluent with a significant monthly level. If this level breaks instead, bulls can anticipate support near the consolidation range’s midpoint around $0.3471 AUD.

A break of the monthly open makes the relatively equal highs near $0.4961 AUD a likely target. Continuation from this level could lead to the next resistance near $0.5247 AUD and on to the monthly high at $0.5562 AUD.

2. UniSwap (UNI)

UniSwap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance DeFi tokens. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges.

UNI Price Analysis

At the time of writing, UNI is ranked 29th cryptocurrency globally and the current price is $5.08 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

UNI’s chart paints a similar picture to IOTA’s setup, with last Friday’s price bouncing from the support near 3.82 AUD.

The daily chart shows a gap from $4.56 to $4.39 AUD. Price tends to fill gaps quickly. This phenomenon means that bulls could anticipate a move through the gap and relatively equal highs near $4.39 AUD towards the resistance at monthly open around $4.64 AUD.

A retest of probable support at $4.23 AUD would give bulls an entry to target a move toward the highs. If the price sweeps the most recent swing low first, this could provide a lower-risk entry opportunity near $3.91 AUD.

Breaking the monthly open adds the relatively equal highs near $6.22 AUD to the list of targets, with a move through this level possibly continuing to the November monthly high near $6.79 AUD.

3. Zilliqa (ZIL)

Zilliqa is a public, permissionless Blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications, and as of October 2020, it also allows for staking and yield farming.

ZIL Price Analysis

At the time of writing, ZIL is ranked 45th cryptocurrency globally and the current price is $0.0596 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

ZIL’s nearly +120% November rally has been cooling off during December – but may now be accumulating before the next leg up.

Bulls stepped in at last weekend’s retest of the December monthly open, suggesting that larger buyers are still active in the current price range.

However, this retest created equal lows above support starting at $0.0475 AUD, which could hint at a near-term sweep of these lows. If this happens, bulls may have an excellent entry – overlapping with the +62% retracement – to target resistance beginning at $0.0653 AUD.

A break of this resistance and the high just above at $0.0628 AUD leaves thin air for bulls to explore. Traditional Fibonacci projection techniques can provide anticipatory targets, with a first target at the +127% extension near $0.0784 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.

Categories
Crypto News Market Analysis Trading

AdEx Network Breakout Analysis – ADX Pumps +30% in a Single Day

Breakout Analysis

AdEx ADX just pumped up to +30% in a single day with a strong breakout on Binance & other Exchanges. Let’s take a quick look at ADX, price analysis, and possible reasons for the recent breakout.

What is AdEx Network?

AdEx Network describes itself as a new-generation solution aiming to address and correct some of the most prominent inefficiencies of the online advertising industry. AdEx originated in 2017 as a decentralized ad exchange and subsequently evolved into a full protocol for the trading of advertising space/time and the subsequent verification and proof of ad delivery. It covers all interactions between publishers, advertisers, and end-users.

ADX Quick Stats

SYMBOL:ADX
Global rank:190
Market cap:$48,543,775 AUD
Current price:$0.4443 AUD
All time high price:$4.86 AUD
1 day:+30.25%
7 day:+45.66%
1 year:+380.42%

ADX Price Analysis

At the time of writing, ADX is ranked 190th cryptocurrency globally and the current price is $0.4443 AUD. This is a +45.66% increase since 13th December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 4-hour candle chart, ADX did a strong breakout from the falling wedge pattern & is now heading towards its major resistance of the month. After BTC made a new all-time high in its price and Altcoins are also rising in a bullish trend, ADX looks well-positioned to hit the next high price levels.

“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 AdEx Network TradingView indicators (on the 1 day) mainly indicate ADX as a buy, except the Oscillators which indicate ADX as a sell.

So Why did ADX Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying ADX for the next Altcoins rally & it could also be contributed to some of the recent news of ADX Staking Rewards.

Recent ADX News & Events:

Where to Buy or ADX?

ADX has the highest liquidity on Binance Exchange so that would help for trading ADX/BTC or ADX/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 Initial Coin Offering Market Analysis Trading

Graph Breakout Analysis – GRT Pumps +502% on Binance Launchpad

After the launch of Graph on Binance Launchpad today, GRT took a strong Breakout with +502% gains in a single day. Let’s take a quick look at GRT, price analysis, and possible reasons for the recent breakout.

What is Graph?

The Graph is an indexing protocol and global API for organizing blockchain data and making it easily accessible with GraphQL. Developers can use Graph Explorer to search, find, and publish all the public data they need to build decentralized applications. The Graph Network makes it possible to build serverless Decentralized Apps that run entirely on public infrastructure.

Graph Quick Stats

SYMBOL:GRT
Global rank:71
Market cap:$296,431,814 AUD
Current price:$0.3519 AUD 
All-time high price:$0.4670 AUD
1 day:+502.26%
7 day:+527.70%
1 year:+527.70%

Graph Price Analysis

At the time of writing, GRT is ranked 71st cryptocurrency globally and the current price is $0.3519 AUD. This is a +502.26% increase since the launch of its ICO at Binance Launchpad today (18th December 2020). Have a look at the chart below for price analysis.

Source: Binance TradingView

After the launch of Graph on Binance Launchpad, It pumped up to $0.4670 AUD having +502% gains in just a few hours and the initial opening price of GRT was $0.0813 AUD at Binance Exchange with many different trading pairs like GRT/BTC, GRT/USDT, and GRT/ETH.

Currently, GRT is trading at $0.3519 AUD 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 Graph TradingView indicators (on the 1 day) mainly indicate GRT as a strong buy, except the Oscillators which indicate GRT as a neutral.

So Why did Graph Breakout?

After the opening at Binance Launchpad, mostly ICO’s pumps after going live on exchange for trade and, the recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some recent news of The Graph Mainnet Launch.

Recent Graph News & Events:

Where to Buy or Trade Graph?

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

Categories
Crypto News Market Analysis Trading

Audius Breakout Analysis – AUDIO Pumps +40% in a Single Day

Breakout Analysis

The cryptocurrency Audius AUDIO just went up over +40% in a single day. Let’s take a quick look at AUDIO, price analysis, and possible reasons for the recent breakout.

What is Audius?

Audius is a decentralized music-sharing and streaming protocol that facilitates direct transactions between listeners and creators, giving everyone the freedom to distribute, monetize, and stream any audio content.

Audius Quick Stats

SYMBOL:AUDIO
Global rank:314
Market cap:$39,592,849 AUD
Current price:$0.3289 AUD
All-time high price:$0.6990 AUD
1 day:+40.52%
7 day:+55.15%
1 year:+176.33%

Audius Price Analysis

At the time of writing, AUDIO is ranked 314th cryptocurrency globally and the current price is $0.3289 AUD. This is a +55.15% increase since 11th December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

In the past week, there was a strong rise in Bitcoin, Ethereum, and Ripple. As a result, Audius (AUDIO) also formed strong support near $0.2586 before starting a fresh increase against the AUD.

If we see the above 4-hour candle chart, AUDIO is forming a Rising Wedge pattern and is now currently trading at $0.3289 AUD after a successful breakout today. The next resistance is on the $0.4125 AUD price levels which can be broken any time soon if AUDIO keeps trading in the uptrend with strong buying 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.”

Source: TradingView

If we zoom out and take a look at the price over the past few days or so, we can see the recent breakout more clearly, the price chart looks in a strong uptrend which is good for long-term growth.

What do the Technical indicators say?

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

So Why did AUDIO Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up AUDIO to their portfolio for the next Altcoins rally. It could also be contributed to some of the recent news of Audius Mainnet.

Recent AUDIO News & Events:

Where to Buy or Trade Audius?

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