Category: Binance

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. The Sandbox (SAND)

The Sandbox SAND is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralised autonomous organisations (DAO) and non-fungible tokens (NFTs), The Sandbox creates a decentralised platform for a thriving gaming community. The Sandbox platform’s main mission is to successfully introduce blockchain technology in mainstream gaming.

SAND Price Analysis

At the time of writing, SAND is ranked the 124^th cryptocurrency globally and the current price is A$0.9314. Let’s take a look at the chart below for price analysis:

SAND’s 89% decline during July created relatively equal lows near A$0.3155 before bouncing over the local range’s midpoint near A$0.4812. A bullish altcoin market could help SAND bulls regain a stronger bullish trend.

Aggressive bulls could look for entries in the daily gap starting near A$0.8135. The May monthly open aligns with more probable support near A$0.7344. 

A stop run below the monthly open near A$0.7122 might allow a more favourable entry. A more substantial bearish move – perhaps from a sharp drop in bitcoin’s price – could challenge support near A$0.6711, just above the equal lows.

Resistance rests just above, with the zone from A$0.9945 to A$1.08 likely to provide a short-term ceiling. A break through this level might target resistance just under the cluster of relatively equal highs near A$1.12. 

Beyond these highs, resistance near A$1.22 provides a final challenge before attacking a new swing high near A$1.35.

2. StormX (STMX)

StormX STMX is one of the first global cryptocurrency-based solutions to reach worldwide markets. As a mobile app and browser extension, StormX aims to bring users cashback in crypto for most of their online purchases. With enterprise partners like Samsung, Nike and Lego, StormX also allows users to stake the native STMX token to boost their rewards. The company has already attracted investments from Blockfolio, Litecoin Foundation and Kyber Network. StormX has successfully developed its product and has become an industry leader in the crypto cashback community. 

STMX Price Analysis

At the time of writing, STMX is ranked the 154^th cryptocurrency globally and the current price is A$0.04069. Let’s take a look at the chart below for price analysis:

STMX continues to set new monthly highs in its chaotic upwards trend. Support might be found in the daily gap above the August monthly open near A$0.03555. A deeper retracement is likely to target the relatively equal lows into support near A$0.02968. 

The daily gap near A$0.02714 could also provide support. However, another gap inside the down candles, around A$0.02574, provides the highest chances of solid support while offering a high risk-reward entry.

There is currently no resistance overhead since the price is in discovery. Extensions hint at the areas around A$0.04925 and A$0.05586 as reasonable take-profit zones.

3. OMG Network (OMG)

OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network. The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain.

OMG Price Analysis

At the time of writing, OMG is ranked the 104^th cryptocurrency globally and the current price is A$7.36. Let’s take a look at the chart below for price analysis:

OMG holders endured a wild May as the price rallied over 118% before running the month’s lows. This stop run could set the stage for another rally. However, the recent volatility means bulls should be extra cautious with stop placement. 

Bulls might find support around the current price near A$6.88. The next high probability support rests near A$5.45, below the last two swing lows. A move this deep could sweep July’s low into an area near A$4.88.

The price is currently struggling with resistance near A$7.85 at the June monthly open. A strong move into this resistance is likely to target the swing high near A$8.15. 

Above this swing high, June’s monthly high at A$8.64 is the next likely target, which also marks another wide resistance zone. Volatility inside this resistance could tag an old monthly high at A$9.51.

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. However, you can also buy these coins from different exchanges listed on Coinmarketcap.

IOTX is trading in an uptrend, like many other Altcoins. The cryptocurrency IOTX just went up +215% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +395% in a week.

What is IOTX?

IoTeX IOTX has built a decentralised platform whose aim is to empower the open economics for machines in an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives. With a global team of more than 40 research scientists and engineers, IoTeX has built its EVM-compatible blockchain from scratch using the innovative Roll-DPoS consensus.

IOTX Price Analysis

At the time of writing, IOTX is ranked the 96^th cryptocurrency globally and the current price is A$0.1133. Let’s take a look at the chart below for price analysis:

After looking at the above 4-Hour candle chart, we can clearly see that IOTX was trading inside the rising wedge pattern on the IOTX/USDT pair. The first resistance was on the A$0.04957 price level, which IOTX broke with a strong bullish trend buying volume and is now heading towards the all-time high price at A$0.1285. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery, IOTX may continue to increase in the uptrend if traders keep buying with high volume.

“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”

What Do the Technical Indicators Say?

TradingView indicators (on the one-day window) mainly suggest IOTX as a Strong Buy, except the Oscillators, which indicate IOTX as a Neutral.

So Why Did IOTX Breakout?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying IOTX for the next Altcoins rally. Recent news was also announced regarding Coinbase Pro listing IOTX on its exchange.

Where to Buy or Trade IOTX?

IOTX has high liquidity on the Binance exchange, which could help for trading IOTX/BTC or IOTX/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin from different exchanges listed on Coinmarketcap.

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. Band Protocol (BAND)

Band Protocol BAND is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart contracts to facilitate the exchange of information between on-chain and off-chain data sources. BAND is the native token of the Band Protocol ecosystem and is used as collateral by validators involved in fulfilling data requests, as well as the main medium of exchange on BandChain being used to pay for private data.

BAND Price Analysis

At the time of writing, BAND is ranked the 164^th cryptocurrency globally and the current price is A$9.99. Let’s take a look at the chart below for price analysis:

BAND’s nearly 83% drop from its April highs found a low near A$5.54 in June before closing over a short-term high around A$9.77 last week.

This daily close over the high could signal a shift in market structure that might reach probable resistance near A$12.08. A sustained bullish move may target the swing high at A$13.62. If this stop run occurs, a run beyond the high into probable resistance near A$13.98 and A$15.27 is possible.

Bulls could buy a retracement to possible support near A$9.47, just above the August monthly open. A bearish turn in the marketplace may propel the price toward possible support near A$6.62. 

However, relatively equal lows near A$5.21 and A$4.00 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between A$3.40 and A$4.00.

2. Constellation (DAG)

Constellation DAG technology is an alternative system that allows cryptocurrencies to function similarly to those that utilise blockchain technology without the need for blocks and miners. A DAG is very similar to this peer grading system. Instead of having large mining firms confirming transactions via proof of work, DAG employs the very transactions that users make in order to confirm each others’ transactions. DAG is essentially a distributed peer-confirming system at scale.

DAG Price Analysis

At the time of writing, DAG is ranked the 154^th cryptocurrency globally and the current price is A$0.2962. Let’s take a look at the chart below for price analysis:

DAG’s massive July spike retraced near A$0.1730 into the consolidation that began the impulse before bouncing to A$0.3340. 

This consolidation could provide support again, although bears would first have to push the price through possible support near A$0.2679. The market’s structure may be shifting bearish, with A$0.2851 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near A$0.1568 before finding support near A$0.1241.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near A$0.3341 potentially giving an attractive target to lure the price over the August monthly open. If so, the price could reach for the midpoint of the massive July wick near A$0.3864.

3. 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 90^th cryptocurrency globally and the current price is A$5.04. Let’s take a look at the chart below for price analysis:

NOTE: VGX is listed as BQX on Binance

VGX set a high near A$10.65 in February before retracing nearly 83% to find a low near A$1.84. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near A$4.71 is slowing the bullish advance down. However, another leg might target the last swing high at A$5.84 and relatively equal highs at A$6.73. Resistance near A$6.12 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near A$8.84.

A retracement before a move higher might find support in the daily gap near A$3.64, just above the August monthly open. Relatively equal lows near A$2.95 could also provide support. A run-on stop at A$2.09 and A$1.84 might find support in the gap beginning near A$1.59 or a high-timeframe level near A$1.15.

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. However, you can also buy these coins from different exchanges listed on Coinmarketcap.

Cartesi CTSI is trading in an uptrend, like many other Altcoins. The cryptocurrency CTSI just went up +86% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +105% in a week.

What is Cartesi?

Cartesi CTSI is taking smart contracts to the next level, solving the urgent problem of scalability and high fees on blockchains by implementing a variant of optimistic roll-ups. Most notably, Cartesi is revolutionising smart contract programming by allowing developers to code with mainstream software stacks. Noether is Cartesi’s side-chain that’s optimised for ephemeral data, providing low-cost data availability to DApps.

CTSI Price Analysis

At the time of writing, CTSI is ranked 145^th cryptocurrency globally and the current price is A$1.12. This represents a +105% increase since August 2, 2021 (seven days ago), as shown in the chart below.

After looking at the above 4-Hour candle chart, we can clearly see that CTSI was trading inside the rising wedge pattern on the CTSI/USDT pair. The first resistance was on the A$0.6936 price level, which CTSI broke with a strong bullish trend buying volume and is now heading towards the previous monthly high price at A$1.35. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery, CTSI may continue to increase in the uptrend if traders keep buying with high volume.

“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”

What Do the Technical Indicators Say?

TradingView indicators (on the one-day window) mainly suggest CTSI as a Strong Buy, except the Oscillators, which indicate CTSI as a Buy.

So Why Did CTSI Breakout?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying CTSI for the next Altcoins rally. Recent news was also announced regarding Kraken Exchange listing Cartesi CTSI with USD & EUR trading pairs.

Where to Buy or Trade CTSI?

CTSI has high liquidity on the Binance exchange, which could help for trading CTSI/BTC or CTSI/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin from different exchanges listed on Coinmarketcap.

BadgerDao BADGER is trading in an uptrend, like many other Altcoins. The cryptocurrency BADGER just went up +75% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +135% in a week.

What is BadgerDao?

BadgerDao BADGER is an open-source, decentralised automated organisation that is dedicated to building products and infrastructure of simplifying the use of Bitcoin as collateral across many smart contract platforms. The platform is a shared space where the developers, known as Badge Builders, have the ability to collaborate and implement Bitcoin as collateral to as many blockchains as possible. A developer can earn a percentage of the fees and BADGER tokens from the developer mining pool for every implementation.

BADGER Price Analysis

At the time of writing, BADGER is ranked 152^nd cryptocurrency globally and the current price is A$37.05. This represents a +135% increase since August 1, 2021 (seven days ago), as shown in the chart below.

After looking at the above 1-Day candle chart, we can clearly see that BADGER was trading inside the rising wedge pattern on the BADGER/USDT pair. The first resistance was on the A$22.56 price level, which BADGER broke with a strong bullish trend buying volume and is now heading towards the previous high prices near A$45.27. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery with a bullish trend, BADGER may continue to increase in the uptrend if traders keep buying with high volume.

“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”

What Do the Technical Indicators Say?

TradingView indicators (on the one-day window) mainly suggest BADGER as a Buy, except the Oscillators, which indicate BADGER as a Neutral.

So Why Did BADGER Breakout?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying BADGER for the next Altcoins rally. Recent news was also announced regarding BadgerDao Migrating to the new CurveFinance Tricrypto2 pool with a new corresponding vault.

Where to Buy or Trade BADGER?

Badger has high liquidity on the Binance exchange, which could help for trading BADGER/BTC or BADGER/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin from different exchanges listed on Coinmarketcap.

Stafi Protocol FIS is trading in an uptrend, like many other Altcoins. The cryptocurrency FIS just went up +285% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +315% in a week.

What is Stafi Protocol?

Stafi FIS (short for Staking Finance) is a DeFi protocol that aims to unlock the liquidity of staked assets. STAFI Protocol solves the contradiction between the token liquidity and Mainnet security by issuing ABT tokens, which provide the liquidity of your Staking Assets. ABT token increases the staking rate to a higher level 100%, theoretically, and it could be tradable, its security is guided by STAFI Protocol which ensures ABT token is the only collateral that can apply to redeem staking assets from the original staking blockchain Tezos, Cosmos, Polkadot, etc.

FIS Price Analysis

At the time of writing, FIS is ranked 613^th cryptocurrency globally and the current price is A$3.19. This represents a +315% increase since July 31, 2021 (seven days ago), as shown in the chart below.

After looking at the above 1-Hour candle chart, we can clearly see that FIS was trading inside the rising wedge pattern on the FIS/USDT pair. The first resistance was on the A$1.42 price levels, which FIS broke with a strong bullish trend buying volume and is now heading towards the previous high price at A$3.26. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price recovery, FIS may continue to increase in the uptrend if traders keep buying with high volume.

“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”

What Do the Technical Indicators Say?

TradingView indicators (on the one-day window) mainly suggest FIS as a Strong Buy, except the Oscillators, which indicate FIS as a Neutral.

So Why Did FIS Breakout?

General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying FIS for the next Altcoins rally. Recent news was also announced regarding BSC Bridge integrated into the rToken app.

Where to Buy or Trade FIS?

Stafi FIS has high liquidity on the Binance exchange, which could help for trading FIS/BTC or FIS/USDT pairs. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia. However, you can also buy this coin from different exchanges listed on Coinmarketcap.

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. Republic Protocol (REN)

Republic Protocol REN is an open protocol built to provide interoperability and liquidity between different blockchain platforms. The protocol’s native token, REN, functions as a bond for those running nodes which power RenVM, known as Darknodes. Ren aims to expand the interoperability, and hence accessibility, of decentralised finance (DeFi) by removing hurdles involved in liquidity between blockchains.

REN Price Analysis

At the time of writing, REN is ranked the 114^th cryptocurrency globally and the current price is A$0.5937. Let’s take a look at the chart below for price analysis:

REN’s explosive Q1 – climbing over 350% – retraced nearly 230% of the move within Q2.

While the price likely needs to cool off before any significant move is higher, stubborn bulls could look for entries in possible support beginning near A$0.5174. 

A break below A$0.4736 is likely to continue to an area near A$0.4589. Strong bearish momentum might push the price to possible support near A$0.4236.

In both bullish and bearish scenarios, it’s reasonable (but not guaranteed) to anticipate a retest of resistance near A$0.6734, which would sweep a cluster of relatively equal highs near A$0.6944. 

Continued strength above this area could continue to resistance near A$0.7514 and the high near A$0.8435.

2. Balancer (BAL)

Balancer BAL is an automated market maker (AMM) that was developed on the Ethereum blockchain and launched in March 2020. It was able to raise a $3 million seed round by Placeholder and Accomplice. Balancer protocol functions as a self-balancing weighted portfolio, price sensor and liquidity provider. It allows users to earn profits through its recently introduced token BAL by contributing to customisable liquidity pools.

BAL Price Analysis

At the time of writing, BAL is ranked the 184^th cryptocurrency globally and the current price is A$32.53. Let’s take a look at the chart below for price analysis:

Since the beginning of Q3, BAL has climbed 65% – a relatively small amount compared to many other altcoins. However, it 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 A$29.15 and A$27.48. A dip below this area might also find support near A$24.66. However, a daily close near A$22.87 brings bullish strength into question. 

A sudden drop in the market is likely to test possible support beginning near A$20.33. This retracement would create extensions suggesting A$48.85 – A$59.25 as a potential target for bulls. 

Currently, extensions indicate a reasonable take-profit zone near A$35.44 to A$39.13, with A$41.55 having the most confluence. If bulls can maintain strength, confluent extensions point to A$43.62 – A$45.27 as a reasonable next target.

3. Curve DAO Token (CRV)

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

CRV Price Analysis

At the time of writing, CRV is ranked the 104^th cryptocurrency globally and the current price is A$2.43. Let’s take a look at the chart below for price analysis:

June 1 spawned a bullish move in CRV, reaching over 122%. Chaotic price action near the top of this move resolved into a nearly 65% retracement.

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

Possible support for the start of consolidation rests near A$2.35. A set of equal lows below this level will likely be swept into possible support, beginning near A$2.28.

Another spike upward is possible, but not guaranteed, as the price retraces. The area just under the July monthly open, beginning near A$2.61, gives a reasonable target. Above this resistance, the last swing high near A$2.75 provides the following target.

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. However, you can also buy these coins from different exchanges listed on Coinmarketcap.