Category: Avalanche

Top 3 Coins to Watch Today: AXS, ATOM, AVAX – August 22 Trading Analysis

Post author By Malik Junaid
Post date August 22, 2022

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

1. Axie Infinity (AXS)

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

AXS Price Analysis

At the time of writing, AXS is ranked the 44^th cryptocurrency globally and the current price is US$14.39. Let’s take a look at the chart below for price analysis:

Source: TradingView

AXS‘s relatively small 20% range could suggest that a recovery is setting up in August. Aggressive bulls could look for entries at the most recent area of support formed near $13.34. However, equal lows near $12.32 make a tempting target for a stop run into this support. This move could reach support near $11.90.

A decisive move to the downside could run stops below the second set of relatively equal lows near $10.80, possibly reaching support at an old swing high and a daily gap near $10.00.

A recent level near $18.84 provided resistance and caused a swing high to form near $22.88, offering first targets. A move through this high may arrive at new monthly high levels near $24.40 and $26.13.

2. Cosmos (ATOM)

Cosmos ATOM bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains. ATOM tokens are earned through a hybrid proof-of-stake algorithm and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.

ATOM Price Analysis

At the time of writing, ATOM is ranked the 26^th cryptocurrency globally and the current price is US$10.60. Let’s take a look at the chart below for price analysis:

Source: TradingView

ATOM has been consolidating in a range around Q1 2022’s high. Q2 2022 saw the start of a smaller range inside this larger range. Near the current price, $10.00 or $8.60 could support at least a small move upward. This area is near the local range low, inefficiently traded, and the site of a stop run.

Just above the current price, the 9, 18 and 40 EMAs may provide resistance near $11.86. This level saw consolidation before last week’s downward move.

A move back toward the local range highs could reach possible resistance near $12.65, where bears rejected the recent rally. This level is just above the May monthly open.

A more extended move by bulls may reach the larger range’s rejection area near $13.81. However, a move this far is less likely unless the overall market rallies.

Below the higher timeframe’s range, $8.25 to $7.80 could provide more substantial support to start a longer-term bullish trend. This level is near the 78.6% retracement of the July 2021 to September 2021 rally, shows inefficient trading on higher-timeframe charts, especially between $7.05 and $6.70, and provides a reasonable stop run target.

3. Avalanche (AVAX)

AVAX is the native token of Avalanche. It is a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche.

AVAX Price Analysis

At the time of writing, AVAX is ranked the 15^th cryptocurrency globally and the current price is US$22.83. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s gains in Q2 ended with an almost 80% retracement as the rest of the altcoin market dropped after May. Bulls stepped in near the 62.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $27.30.

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

Near the 40 EMA, a broad zone from $21.35 to $19.30 could see interest from bulls before further expansion. Bears may capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 75% retracement, at $17.10, and potentially lower to a higher-timeframe support zone between $16.70 and $15.22.

If the higher-timeframe recovery trend resumes and the current resistance near $29.64 breaks, the wicks near $35.14 and the new monthly highs may see profit-taking.

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Where to Buy or Trade Altcoins?

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

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Top 3 Coins to Watch Today: ONE, AVAX, VET – August 5 Trading Analysis

Post author By Malik Junaid
Post date August 5, 2022

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

1. Harmony (ONE)

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

ONE Price Analysis

At the time of writing, ONE is ranked the 118^th cryptocurrency globally and the current price is US$0.02215. Let’s take a look at the chart below for price analysis:

Source: TradingView

ONE bulls have had to endure a 80% drop since early Q2 until the price set a low and began a range in June.

Currently, the price is aggressively moving toward possible resistance, beginning near $0.02851. Stops above the swing high at $0.03215 might be the target before a downwards retracement. Multiple old lows mark this resistance, which is near the 77.6% retracement level of a recent significant bearish swing.

If the price continues through this high, it could be reaching for an inefficient area near $0.03542. Moving to this level would run bears’ stops above the swing high at the same level. A more substantial rally might reach an old swing high and inefficiently traded area between $0.03725 and $0.03938, which surrounds the yearly open.

If the price stays above the weekly low of $0.02035, this price could support a run above the $0.01965 swing high. Just below, at $0.01844, bulls might eye the consolidation high as more substantial support. This zone contains the 9 and 40 EMAs.

A deeper retracement might retest the accumulation area between $0.01735 and $0.01670. If this level breaks, bears may be targeting an inefficiently traded area on higher timeframes beginning near $0.01450. This area overlaps the 47% extension of a recent significant bearish swing.

2. Avalanche (AVAX)

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

AVAX Price Analysis

At the time of writing, AVAX is ranked the 14^th cryptocurrency globally and the current price is US$23.18. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s gains in Q2 ended with an almost 78% retracement as the rest of the altcoin market dropped after May. Bulls stepped in near the 62.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $26.30.

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

Near the 40 EMA, a broad zone from $20.35 to $19.00 could see interest from bulls before further expansion. Bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 75% retracement, at $18.10, and potentially lower to a higher-timeframe support zone between $16.60 and $15.32.

If the higher-timeframe recovery trend resumes and the current resistance near $30.64 breaks, the wicks near $34.14 and the new monthly highs may see profit-taking.

3. VeChain (VET)

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

VET Price Analysis

At the time of writing, VET is ranked the 34^th cryptocurrency globally and the current price is US$0.02903. Let’s take a look at the chart below for price analysis:

Source: TradingView

VET‘s 50% move during late March ran into resistance near $0.08450, at the 35% extension of the Q1 swing.

An old high and the 18 EMA have provided support near $0.02383 and may give support again on a retest. This area also has confluence with the 55% and 68.9% retracements of November’s swing.

Just below, near $0.02143, the 50.8% retracement of the current Q1 swing might also mark an area of support.

If the market turns bearish, $0.02032 is unlikely to be revisited but could see interest from bulls during any deeper retracement.

An area near $0.03348, at the 50% extension of the last week swing, could see some profit-taking if bulls break the current resistance near $0.03728. Above, old consolidations near $0.04025 and $0.04472 may also provide some resistance before another round of price discovery.

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Top 3 Coins to Watch Today: AVAX, VGX, AAVE – July 14 Trading Analysis

Post author By Malik Junaid
Post date July 14, 2022

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

1. Avalanche (AVAX)

AVAX Price Analysis

At the time of writing, AVAX is ranked the 16^th cryptocurrency globally and the current price is US$17.88. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s gains in Q2 ended with an almost 80% retracement as the rest of the altcoin market dropped from early last month. Bulls stepped in near the 62.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $25.30.

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

Near the 40 EMA, a broad zone from $18.35 to $17.00 could see interest from bulls before further expansion. Bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 75% retracement, at $16.10, and potentially lower to a higher-timeframe support zone between $15.60 and $14.32.

If the higher-timeframe recovery trend resumes and the current resistance near $23.64 breaks, the wicks near $27.14 and the new monthly highs may see profit-taking.

2. Voyager Token (VGX)

Voyager Token VGX is a cryptocurrency broker that provides investors with a trusted and secure access point to crypto asset trading. Voyager is built to serve both retail and institutional investors with a nigh-instant solution for trading crypto assets. The native token of the brokerage, Voyager Token VGX, is used to reward users within the Voyager ecosystem. VGX also generates interest when held in the Voyager app, and offers cashback rewards and other services exclusive to Voyager users.

VGX Price Analysis

At the time of writing, VGX is ranked the 116^th cryptocurrency globally and the current price is US$0.8333. Let’s take a look at the chart below for price analysis:

Source: TradingView

VGX set a high near $2.30 in Q1 before retracing nearly 83% to find a low near $0.4584. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near $0.9771 is slowing the bullish advance down. However, another leg might target the last swing high at $1.24 and relatively equal highs at $1.36. Resistance near $1.55 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near $1.84.

A retracement before a move higher might find support in the daily gap near $0.7064, just above the monthly open. Relatively equal lows near $0.6295 could also provide support. A run-on stop at $0.5709 and $0.5084 might find support in the gap beginning near $0.4859 or a high-timeframe level near $0.4215.

3. Aave (AAVE)

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

AAVE Price Analysis

At the time of writing, AAVE is ranked the 44^th cryptocurrency globally and the current price is US$76.70. Let’s take a look at the chart below for price analysis:

Source: TradingView

AAVE‘s strong downtrend that began during early April has retraced most of its Q2 move, recently sweeping lows near $66.25.

A sweep of the relatively equal lows near $62.87 into possible support around $58.12, combined with bullish market conditions, could be the catalyst that begins to form a bottom. If this level fails, bulls might buy the monthly gap’s low near $50.45.

The swing high near $82.10 may form resistance to any sudden pumps as holders unload some of their position. A more substantial move might sweep relatively swing highs into probable resistance near $96.82, potentially reaching up to the new monthly highs near $110 and $123.

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Top 3 Coins to Watch Today: MANA, AVAX, MATIC – July 8 Trading Analysis

Post author By Malik Junaid
Post date July 8, 2022

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

1. Decentraland (MANA)

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

MANA Price Analysis

At the time of writing, MANA is ranked the 32^nd cryptocurrency globally and the current price is US$0.9282. Let’s take a look at the chart below for price analysis:

Source: TradingView

Like many other altcoins, MANA set a high during Q1 and Q2 before retracing 70% to the low at $0.7330 last month.

The price broke through resistance near $0.9134, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near $0.8713. However, a drop this far increases the chances of a stop run to $0.8105 and possibly into support near $0.7825. For now, continuing recovery market conditions could help $0.7510 become support.

The swing high around $1.10 gives bulls a reasonable first target, with $1.18 also likely to draw the price upward. Higher-timeframe resistance beginning near $1.29 or $1.37 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near new monthly highs around $1.45.

2. Avalanche (AVAX)

AVAX Price Analysis

At the time of writing, AVAX is ranked the 15^th cryptocurrency globally and the current price is US$20.16. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s gains in Q2 ended with an almost 75% retracement as the rest of the altcoin market dropped from early last month. Bulls stepped in near the 62.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $30.35.

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

Near the 40 EMA, a broad zone from $18.15 to $17.45 could see interest from bulls before further expansion. Bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 75% retracement, at $16.30, and potentially lower to a higher-timeframe support zone between $15.72 and $14.80.

If the higher-timeframe recovery trend resumes and the current resistance near $24.35 breaks, the wicks near $28.84 and the new monthly highs may see profit-taking.

3. Polygon (MATIC)

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

MATIC Price Analysis

At the time of writing, MATIC is ranked the 18^th cryptocurrency globally and the current price is US$0.5669. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since its Q1 highs, MATIC has been in a steady bearish trend, retracing nearly 75%. The price found support near $0.3820, at the 65.8% retracement level.

Last week’s sharp impulse up might have marked the start of a new trend. If so, higher timeframes suggest that $0.5139, near the 45.8% retracement and the 9, 18 and 40 EMAs, may see interest from bulls. The price could reach lower, near $0.4720, and still find support.

Currently, the price is contesting a region between $0.4539 and $0.4325. Closes over this level could confirm it as new support, leading to a move higher.

However, bulls are contending with probable resistance near $0.6931, while $0.7530 is also likely to be sensitive with the nearest support and resistance this close together.

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DeFi Yield Protocol (DYP) Pumps 107% Amid Coinbase ‘Experimental’ Listing

Post author By Phil Stafford
Post date June 24, 2022

One of six Ethereum-based altcoins just listed on US crypto exchange Coinbase’s roster of digital assets, DeFi Yield Protocol (DYP), is up a significantly bullish 107 percent in a week and as a result is currently trading at US$0.43:

📣 DYPians, get ready for the next step!

Starting from today, 22 June 2022, 09:00 AM PT, $DYP will be available for trading on @Coinbase & @CoinbaseExch. You can choose from #DYP-USD & #DYP-USDT pairs.

See you there! 🤝 pic.twitter.com/uLr4oWvTCG
— DeFi Yield Protocol (@dypfinance) June 22, 2022

Experiment Gets Real

Coinbase says DYP will be phased in along with five other Ethereum-based altcoins – HOPR, MATH, PARSIQ, Elastos (ELA) and ALEPH – in trading pairs with Tether (USDT) after appropriate liquidity conditions are met. All six altcoins are grouped under the exchange’s ‘Experimental’ label, introduced in March this year:

Coinbase will add support for DYP, ALEPH, HOPR, MATH, PRQ, and ELA with the Experimental label. Learn more about the Experimental label here: https://t.co/MBMBbYyZ7S
— Coinbase Assets (@CoinbaseAssets) June 21, 2022

DYP aims to offer users the ability to stake Ethereum, Binance Coin and Avalanche to earn a fixed 25 percent APR (annual percentage rate). It is also said to be working on an array of products for the decentralised ecosystem and seeks to be “accessible for both beginner and advanced users” through a combination of DeFi, NFTs and metaverse gaming.

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Top 3 Coins to Watch Today: LTC, AVAX, XRP – June 17 Trading Analysis

Post author By Malik Junaid
Post date June 17, 2022

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

1. Litecoin (LTC)

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

LTC Price Analysis

At the time of writing, LTC is ranked the 18^th cryptocurrency globally and the current price is US$45.81. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, LTC kicked off a with recovery trend to break the weekly highs.

The following 70% plummet found support near $40.36, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $52.73.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $60.12, where aggressive bulls might begin bidding. The level near $69.18, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $75.13.

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $40.18 could provide at least a short-term bounce. If this level fails, the old monthly lows near $37.23 may also give support and see the start of a new bullish cycle after retesting these support levels.

2. Avalanche (AVAX)

AVAX Price Analysis

At the time of writing, AVAX is ranked the 16^th cryptocurrency globally and the current price is US$16.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s gains in Q2 ended with an almost 71% retracement as the rest of the altcoin market dropped from early this month. Bulls stepped in near the 62.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $34.35.

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

Near the 40 EMA, a broad zone from $19.15 to $17.45 could see interest from bulls before further expansion. Bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 75% retracement, at $16.70, and potentially lower to a higher-timeframe support zone between $14.42 and $13.80.

If the higher-timeframe recovery trend resumes and the current resistance near $22.35 breaks, the wicks near $26.84 and the new monthly highs may see profit-taking.

3. Ripple (XRP)

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

XRP Price Analysis

At the time of writing, XRP is ranked the 8^th cryptocurrency globally and the current price is US$0.3199. Let’s take a look at the chart below for price analysis:

Source: TradingView

XRP printed some gains during Q1 and Q2 after moving sideways for the past few weeks. The price is in a downtrend, with the 9, 18 and 40 EMAs providing resistance on each attempt to rally.

However, bulls are showing some interest at the 80.6% retracement, near $0.3472. If this level breaks, a move into possible support – just below the lows near $0.2952 – seems likely.

If the price does rally through the swing high at $0.3855 – perhaps triggered by a sudden surge in Bitcoin – bulls might find some resistance at the 61.8% retracement level near $0.4150.

Overlapping swing highs and lows near $0.4526 might provide the next target, where bears immediately forced the price down in late December.

More bullish market conditions could shift targets up near the midpoint of Q1’s consolidation, near $0.5017, where higher timeframes show an inefficiently traded zone.

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30 Years After Coining the Term ‘Metaverse’, Neal Stephenson Launches Blockchain ‘Lamina1’

Post author By Phil Stafford
Post date June 10, 2022

Thirty years ago, American cyberpunk science-fiction author Neal Stephenson conceived the term “metaverse” in his 1992 bestseller Snow Crash. Now he’s bringing the concept to life.

Stephenson and crypto trailblazer Peter Vessenes, original convenor of the Bitcoin Foundation, this week announced the joint creation of their metaverse-specific blockchain, Lamina1, with Vessenes named as CEO and Stephenson chairman of the project:

After publishing Snow Crash about 30 years ago, Neal Stephenson has just co-founded (with Peter Vessenes) a new venture called Lamina1. Basically, the company wants to build the base-level protocol as the very basis of an open metaverse. pic.twitter.com/cpi4TLpvDX
— Tom Ffiske (@TomFfiske) June 8, 2022

Testnet, Betanet Set for Later This Year

The testnet and betanet of Lamina1 are scheduled to be launched later this year, with the pair’s ultimate goal to create a fully immersive 3D open metaverse directly inspired by Stephenson’s novel.

The “provably carbon-negative” Lamina1 chain will offer high transaction volume and an economic design with new incentive mechanisms to help create what its architects describe as thriving, vibrant economies for creators and entrepreneurs.

Vessenes says the first iteration of the blockchain will be “somewhere between a friendly fork and partnership” of Avalanche, though nothing is set in stone as yet.

We Just Want to ‘Build Cool Stuff’

“When I look at the things that have made the top chains work, it’s really just how successful they’ve been at getting their communities all the resources they need, and just helping them succeed,” Vessenes adds. “What we’re wanting to do is bring in very, very high-quality IP partners, enterprise partners, help everybody meet each other and just build cool stuff.”

Financial backers of the project already named include Ethereum co-founder Joseph Lubin, PSL co-founder Geoff Entress, Bloq chairman Matthew Roszak, Transparent Systems president Patrick Murck and blockchain pioneer David Johnston.

The Multi-Trillion-Dollar Frontier

Last month, an Analysis Group report estimated that the metaverse could make a US$3 trillion GDP contribution in its first decade. Goldman Sachs is even more bullish, predicting as much as US$8 trillion in potential earnings. And JPMorgan – another global investment bank – believes the metaverse is likely to infiltrate every sector in coming years, having entered the Web3 space with its own virtual Decentraland lounge in February.

Of course, such continued exponential growth is only likely if the industry reaches its expected potential.

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Top 3 Coins to Watch Today: ORN, KCS, AVAX – May 27 Trading Analysis

Post author By Malik Junaid
Post date May 27, 2022

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

1. Orion Protocol (ORN)

Orion ORN aims to solve the difficulties in performing profitable transactions associated with the lack of liquidity on the majority of crypto exchanges. This is the case for both centralised and decentralised exchanges. Orion’s solution to this is to aggregate exchanges’ order books into one simple-to-use-and-understand terminal.

The Orion Protocol’s goal is to help users get the best returns out of their investments while also lowering the risks associated with using multiple exchanges.

ORN Price Analysis

At the time of writing, ORN is ranked the 420^th cryptocurrency globally and the current price is US$1.38. Let’s take a look at the chart below for price analysis:

Source: TradingView

After a 70% retracement from its March highs, ORN found a temporary low near $1.30. A recent move above $1.50 could be the first sign of a bullish shift – but could also signal a stop run before the next drop lower.

If the market adopts a more bullish tone, the price could run through the most recent swing high. If this bounce occurs, it would likely find some resistance near $1.65, possibly reaching up to $1.86.

However, a move below the closest support near $1.26 makes stop runs on the swing lows near $1.22 and $1.20 likely. A confluence of several levels near $1.17 could provide a temporary bounce. Still, a sustained bearish market will likely target $1.15 and even $1.06.

2. KuCoin Token (KCS)

KCS is the native token of KuCoin, launched in 2017 as a profit-sharing token that allows traders to draw value from the exchange. It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralised trading solution goes live, KCS will be the native asset of KuCoin’s decentralised financial services as well as the governance token of the KuCoin community in the future.

KCS Price Analysis

At the time of writing, KCS is ranked the 40^th cryptocurrency globally and the current price is US$15.84. Let’s take a look at the chart below for price analysis:

Source: TradingView

KCS has been trading through a massive range during Q1, with the price showing mild bullishness during March.

Bulls bought near $12.20. The weekly level and daily gap near $13.90 could prompt buyers to step in again as the price challenges the swing high and resistance around $16.50. A strong move and acceptance above this level may reach for the swing highs at $18.75 and $19.66, which mark another area of resistance.

However, rejection from the current area may send the price down to retest support near $13.40. Relatively equal lows around $12.78 provide a rich target for a stop run. Sustained bearishness may reach the low near $11.90 and possibly as low as $11.14 into higher-timeframe support.

3. Avalanche (AVAX)

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

AVAX Price Analysis

At the time of writing, AVAX is ranked the 14^th cryptocurrency globally and the current price is US$24.99. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s gains during Q1 ended with an almost 69% retracement as the rest of the altcoin market dropped from early this month. Bulls stepped in near the 52.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $44.35.

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

Near the 40 EMA, a broad zone from $35.15 to $29.45 could see interest from bulls before further expansion. Bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 70% retracement, at $23.70, and potentially lower to a higher-timeframe support zone between $21.42 and $20.80.

If the higher-timeframe recovery trend resumes and the current resistance near $37.35 breaks, the wicks near $49.84 and the new monthly highs may see profit-taking.

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Top 3 Coins to Watch Today: AVAX, ZIL, RUNE – May 13 Trading Analysis

Post author By Malik Junaid
Post date May 13, 2022

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

1. Avalanche (AVAX)

AVAX Price Analysis

At the time of writing, AVAX is ranked the 13^th cryptocurrency globally and the current price is US$29.82. Let’s take a look at the chart below for price analysis:

Source: TradingView

AVAX‘s 70% gains during Q1 ended with an almost 49% retracement as the rest of the altcoin market dropped from last week. Bulls stepped in near the 52.8% retracement of Q2’s move, creating a consolidation that ended with the bullish impulse to resistance near $44.35.

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

Near the 40 EMA, a broad zone from $38.15 to $30.45 could see interest from bulls before further expansion. If this level fails, bears might capitalise on any sharp moves down in Bitcoin, aiming for possible support near the 70% retracement, at $27.70, and potentially lower to a higher-timeframe support zone between $25.42 and $23.80.

If the higher-timeframe recovery trend resumes and the current resistance near $44.35 breaks, the wicks near $48.84 and the new monthly highs may see profit-taking.

2. Zilliqa (ZIL)

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

ZIL Price Analysis

At the time of writing, ZIL is ranked the 77^th cryptocurrency globally and the current price is US$0.04601. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZIL‘s 80% drop found a low near $0.04238 before closing over a weekly high around $0.05082. This daily close over the high could signal a shift in market structure that might reach probable resistance near $0.05732.

A sustained bullish move may target the swing high at $0.05960. If this stop run occurs, a run beyond the high into probable resistance near $0.06288 and $0.06445 is possible.

Bulls could buy a retracement to possible support near $0.04018, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.03876.

However, relatively equal lows near $0.03734 and $0.03624 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.03415 and $0.03266.

3. THORChain (RUNE)

ThorChain RUNE is a decentralised liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process. The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem and is also used for platform governance and security as part of THORChain’s Sybil resistance mechanisms – since THORChain nodes must commit a minimum of 1 million RUNE to participate in its rotating consensus process.

RUNE Price Analysis

At the time of writing, RUNE is ranked the 55^th cryptocurrency globally and the current price is US$2.90. Let’s take a look at the chart below for price analysis:

Source: TradingView

RUNE abruptly rallied after retracing nearly 60% from its November highs, climbing 90% during early March.

Bears are currently taking shorts in a contested area between $2.70 and $3.23. This area saw inefficient trading on higher timeframes. It could serve as support if the price trades through its high end and retests it – or as resistance if the price breaks back below.

The closest support rests just below, near $2.63. The old high at this level could support a rally into resistance near $2.95.

A move through the closest resistance might target the consolidation midpoint near $3.25, near the 29% extension of the current rally. If this level breaks, bulls might target an inefficient area near $3.45 and beyond.

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Institutions Leaving ETH for Competing Altcoins, CoinShares Report Reveals

Post author By Jana Serfontein
Post date April 28, 2022

According to analysis from CoinShares, investors have favoured smaller layer-one altcoins of late with institutional capital outflows from Ethereum hitting US$17 million:

According to a weekly report by asset management firm CoinShares, institutional investor funds flow to digital assets such as crypto assets (cryptocurrency) investment trusts have exceeded outflows for the second straight week. pic.twitter.com/kgT8iCuN9M
— Snow (@Snow76231837) April 20, 2022

Smart Money Favours Layer-One Projects

Institutional investors have been shifting their attention away from Ethereum to competing layer-one blockchain projects, with capital inflows for altcoins increasing while ETH products posted outflows for the third consecutive week. Data from CoinShares’ Digital Asset Fund report shows that investors bought up US$3.5 million worth of Avalanche, Solana, Terra, and Algorand.

The data shows total outflows of ETH now amount to US$59.3 million, around 35 percent of the year-to-date outflows of US$169 million.

Weekly Flows from ETH. Source: CoinShares

Decentralised application usage on Solana in the past week has increased, according to data from DappRadar. While the metrics from Avalanche’s DApp usage have not increased over the week, the project’s investment in incentive programs and millions spent bringing developers to the platform signal a bullish future.

Significant Shift in Past Three Weeks

Inflows into Avalanche, Solana, Terra and Algorand were US$1.8 million, US$800,000, US$700,000, and US$200,000 respectively, with Bitcoin recording inflows worth US$2.6 million for the first time in two weeks. Over the past three weeks, total outflows were US$219 million, a significant shift from the US$134 million that left the market in the first week of April.

In March, another report released by CoinShares showed that institutional crypto funds had seen their biggest capital inflows since December 2021, with over US$193 million coming in during the week ending March 25.