Category: ChainLink

Categories
ChainLink Crypto News Ethereum Classic Filecoin Market Analysis Trading

Top 3 Coins to Watch Today: FIL, ETC, LINK – August 4 Trading Analysis

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

1. Filecoin (FIL)

Filecoin FIL is a decentralised storage system that aims to “store humanity’s most important information”. The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network. Filecoin is an open protocol backed by a blockchain that records commitments made by the network’s participants, with transactions using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-space-time.

FIL Price Analysis

At the time of writing, FIL is ranked the 32nd cryptocurrency globally and the current price is US$8.64. Let’s take a look at the chart below for price analysis:

Source: TradingView

FIL has dropped 80% from its Q2 highs. It found support near $5.20 before starting a consolidation range. This level, near the lows, could continue to provide support. A year-long consolidation from 2019 to 2020 pivoted around this level many times. It’s also near the middle of the last down candle before 2020’s massive rally. A retest of this level would run bulls’ stops under swing lows formed in late June and early July.

The price is testing a closer area of possible support near $8.00. Bulls rejected bears many times in early July at this level. It’s also in the upper part of July’s swing low candle. The closest resistance is likely near $8.95. This area, up to $9.30, shows inefficient trading on the daily chart. It also contains the 9 and 18 EMAs.

If the price breaks through this level, it may aim for bears’ stops above $9.62. Even if it doesn’t reach these stops, the area between $9.90 and $10.25 could provide a bearish setup. Here, bears rejected bulls near the bottom of an area of inefficient trading on the weekly chart.

If the market turns more bullish, a rally beginning in this range may be aiming for the new monthly highs, near $10.39. This level is near the bottom of an area of inefficient trading on the daily chart.

2. Ethereum Classic (ETC)

Ethereum Classic ETC is a hard fork of Ethereum that launched in July 2016. Its main function is as a smart contract network, with the ability to host and support decentralised applications (DApps). Its native token is ETC. Since its launch, Ethereum Classic has sought to differentiate itself from Ethereum, with the two networks’ technical roadmaps diverging further with time. Ethereum Classic set out to preserve the integrity of the existing Ethereum blockchain after a major hacking event led to the theft of 3.6 million ETH.

ETC Price Analysis

At the time of writing, ETC is ranked the 19th cryptocurrency globally and the current price is US$36.94. Let’s take a look at the chart below for price analysis:

Source: TradingView

During July, ETC broke several swing highs that could be the signal for a new bullish trend. Last week’s break of the most recent swing low could suggest some downside in the short term. It formed probable resistance near $40.32 and may target the swing low and possible support near $33.90.

The swing low and possible support near $30.21 could be the second bearish target if the move down continues. The relatively equal lows near $29.00 and possible support underneath near $27.45 could provide more substantial support.

The last swing high near $43.52 gives a near-term target if the bullish continuation continues. However, resistance beginning around $47.80 could cap this move. A break of this resistance might continue to probable resistance near $53.03 and reach above the cluster of relatively equal highs near $58.49.

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors, and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events, and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

At the time of writing, LINK is ranked the 24th cryptocurrency globally and the current price is US$7.51. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s early Q2 trend retraced near $5.70 into the consolidation that began the impulse before bouncing to $8.42. This consolidation could provide support again, although bears would first have to push the price through possible support near $7.90.

The market’s structure may be shifting bearish, with $7.10 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $6.70 before finding support near $6.27.

However, the bullish higher-timeframe trend may prevail, with relatively equal highs near $8.37 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the Q1 wick near $9.18.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

Categories
ChainLink Crypto News ICP Market Analysis NEAR Protocol Trading

Top 3 Coins to Watch Today: NEAR, LINK, ICP – July 11 Trading Analysis

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

1. Near Protocol (NEAR)

NEAR Protocol is a decentralised application platform designed to make apps usable on the web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to offer scalability and stable fees. NEAR uses human-readable account names, unlike the cryptographic wallet addresses common to Ethereum. NEAR also introduces unique solutions to scaling problems and has its own consensus mechanism, called “Doomslug”.

NEAR Price Analysis

At the time of writing, NEAR is ranked the 25th cryptocurrency globally and the current price is US$3.57. Let’s take a look at the chart below for price analysis:

Source: TradingView

During Q2, NEAR retraced 70% from its highs to support at the retracement of around $3.09.

The price shifted market structure to run to the consolidation lows near $3.40, just under the monthly open. A continued bearish trend in the market may create support just below, between $3.00 and $2.76.  

On the other hand, if the current resistance breaks, the price may find resistance near $4.23 and $5.14, whereas mid-Q2 buyers might still be trapped in longs.

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors, and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events, and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

At the time of writing, LINK is ranked the 23rd cryptocurrency globally and the current price is US$6.20. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s early Q2 trend retraced near $5.80 into the consolidation that began the impulse before bouncing to $8.92. This consolidation could provide support again, although bears would first have to push the price through possible support near $6.10.

The market’s structure may be shifting bearish, with $7.40 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $6.00 before finding support near $5.87.

However, the bullish higher-timeframe trend may prevail, with relatively equal highs near $7.27 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the Q1 wick near $9.18.

3. Internet Computer (ICP)

The Internet Computer ICP is the world’s first blockchain that runs at web speed with unbounded capacity. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum. The Internet Computer scales smart contract computation and data, runs them at web speed, processes and stores data efficiently, and provides powerful software frameworks to developers. By making this possible, it enables the complete re-imagination of software, providing a revolutionary new way to build tokenised internet services, pan-industry platforms, decentralised financial systems, and even traditional enterprise systems and websites.

ICP Price Analysis

At the time of writing, ICP is ranked the 34th cryptocurrency globally and the current price is US$6.51. Let’s take a look at the chart below for price analysis:

Source: TradingView

ICP has dropped 53% from its most recent Q2 high as it continues its nine-month downtrend. The edge of the recent swing’s lower candle bodies could provide the closest support, near $5.12. This level overlaps with the 100% extension of June’s opening rally.

Currently, the price is testing possible resistance near $7.00. This level has confluence with the 9 EMA. It is unclear if it will hold as resistance, but it’s reasonable to anticipate a run above bears’ stops at $7.30.

If the price breaks through this resistance, it may find its next resistance near $7.69. This level is near the midpoint of May 12’s swing low and the midpoint of an inefficiently traded area on the weekly chart.

A rally this high may reach slightly higher, near $8.32. This area formed the base of the June opening rally, shows inefficient trading on the daily chart, and is at the low end of May’s accumulation range.

Below, there is no historical price action to suggest possible support. The next downside targets may be near $4.70 and $3.95. These approximate levels are near the 150% and 200% extensions of June’s opening rally.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

Categories
Band Protocol ChainLink Crypto News Kusama Market Analysis Trading

Top 3 Coins to Watch Today: KSM, LINK, BAND – June 9 Trading Analysis

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

1. Kusama (KSM)

Kusama KSM is an experimental blockchain platform designed to provide a massively interoperable and scalable framework for developers. Kusama is built on Substrate, a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot, one of the most successful interoperable blockchains.

KSM Price Analysis

At the time of writing, KSM is ranked the 77th cryptocurrency globally and the current price is US$66.33. Let’s take a look at the chart below for price analysis:

Source: TradingView

After rallying over 40% from its Q1 lows, KSM is encountering resistance near $83.70. This resistance and the monthly open at $75.51 currently have the price trapped. The swing high and resistance near $97.83 provide a likely target before any major bearish market shift, with continuation through this resistance possibly reaching for shortstops and resistance near $110.46.

The daily gap at $60.71 could provide support, while the area beginning near $57.73 could see more substantial interest from the bulls. A longer-term bearish shift in the marketplace will likely reach the relatively equal lows near $50.77, possibly finding a floor at support beginning near $46.39.

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors, and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events, and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

At the time of writing, LINK is ranked the 21st cryptocurrency globally and the current price is US$8.74. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s early April trend retraced near $6.50 into the consolidation that began the impulse before bouncing to $7.80. 

This consolidation could provide support again, although bears would first have to push the price through possible support near $8.45. The market’s structure may be shifting bearish, with $8.90 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $7.89 before finding support near $7.50.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near $9.27 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the Q1 wick near $10.18.

3. 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 being the main medium of exchange on BandChain, used for paying for private data.

BAND Price Analysis

At the time of writing, BAND is ranked the 370th cryptocurrency globally and the current price is US$1.68. Let’s take a look at the chart below for price analysis:

Source: TradingView

Like many other altcoins, BAND set a high around April before retracing 85% to the low at $1.50 in early June.

Price broke through resistance near $1.60, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near $1.49. However, a drop this far increases the chances of a stop run to $1.34 and possibly into support near $1.29. For now, continuing bullish market conditions could help $1.40 become support.

The swing high around $1.89 gives bulls a reasonable first target, with $1.98 also likely to draw the price upward. Higher-timeframe resistance beginning near $2.18 or $2.30 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near $2.39.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

Categories
1inch Network ChainLink Crypto News Decentraland Market Analysis Trading

Top 3 Coins to Watch Today: MANA, LINK, 1INCH – May 16 Trading Analysis

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

1. 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 33rd cryptocurrency globally and the current price is US$1.23. Let’s take a look at the chart below for price analysis:

Source: TradingView

Like many other altcoins, MANA set a high during Q1 before retracing 65% to the low at $0.7530 last week.

The price broke through resistance near $1.20, which may mark an area of possible support on a retracement. If this support fails, bulls might also step in near $1.13. However, a drop this far increases the chances of a stop run to $1.05 and possibly into support near $0.9425. For now, continuing recovery market conditions could help $1.10 become support.

The swing high around $1.40 gives bulls a reasonable first target, with $1.48 also likely to draw the price upward. Higher-timeframe resistance beginning near $1.60 or $1.65 could cap the move or trigger consolidations. If bullish market conditions continue, bulls might test probable resistance near new monthly highs around $1.74.

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

At the time of writing, LINK is ranked the 25th cryptocurrency globally and the current price is US$7.59. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s early April trend retraced near $7.10 into the consolidation that began the impulse before bouncing to $7.66. 

This consolidation could provide support again, although bears would first have to push the price through possible support near $7.05. The market’s structure may be shifting bearish, with $7.98 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $6.89 before finding support near $6.77.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near $8.79 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the Q1 wick near $10.58.

3. 1inch (1INCH)

1INCH is a decentralised exchange (DEX) aggregator, connecting several DEXes into one platform to allow users to find the most efficient swapping routes across all platforms. In order for users to find the best price for a swap, they need to look at every exchange – DEX aggregators eliminate the need for manually checking, bringing efficiency to swapping on DEXes. 1inch has launched its 1INCH governance token, and the 1inch Network began to be governed by a decentralised autonomous organisation (DAO).

1INCH Price Analysis

At the time of writing, 1INCH is ranked the 98th cryptocurrency globally and the current price is US$0.9458. Let’s take a look at the chart below for price analysis:

Source: TradingView

After breaking its Q1 highs, 1INCH began a range that has been whiplashing both bulls and bears.

Resistance beginning near $1.45 held the price down for the second half of April, although bulls have shown some strength near the 9 and 18 EMAs. 

A quick push to $1.13, or into the zone beginning near $1.26, could give bulls the fuel to push through the nearby resistance. If this resistance breaks, the high near $1.34 provides a reasonable target. 

A break of this level could move further into uncharted territory with the nearest probable resistances projected around $1.40 and $1.45.

More patient bulls might be waiting far below the 40 EMA with bids near the higher-timeframe range’s 45% retracement, near $0.8540.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

Categories
ChainLink Crypto News Ethereum Market Analysis Trading WOO Network

Top 3 Coins to Watch Today: ETH, LINK, WOO – April 15 Trading Analysis

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

1. Ethereum (ETH)

Ethereum ETH is a decentralised open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralised smart contracts. Ethereum’s own purported goal is to become a global platform for decentralised applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

ETH Price Analysis

At the time of writing, ETH is ranked the 2nd cryptocurrency globally and the current price is US$3,034.89. Let’s take a look at the chart below for price analysis:

Source: TradingView

ETH‘s long-term range from Q1 highs could be coming to an end. The 9, 18 and 40 EMAs flipped bullish at the beginning of April after late March’s retracement, showing strength as BTC recovered. Currently, the price is hovering just under the monthly high as bulls take some profits.

Two swing highs and the 9 EMA could mark $3010.87 to $2940.72 as an area of possible support. A deeper retracement will likely find some buyers around the 61.8% retracement near $2760.59.

The monthly high will likely see some profit-taking, but the area near the 27% extension, at $3560.12, could also provide some resistance. The 61.8% extensions of the last two swings converge near $3820.54, which could be the target for a monthly high break before a new setup emerges.

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

At the time of writing, LINK is ranked the 24th cryptocurrency globally and the current price is US$13.64. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s early March spike retraced near $13.00 into the consolidation that began the impulse before bouncing to $16.90. 

This consolidation could provide support again, although bears would first have to push the price through possible support near $12.85. The market’s structure may be shifting bearish, with $12.32 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $11.70 before finding support near $11.23.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near $17.78 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the December wick near $20.58.

3. WOO Network (WOO)

WOO Network is a deep liquidity network connecting traders, exchanges, institutions and DeFi platforms with democratised access to best-in-class liquidity and trading execution at lower or zero cost. WOO Token is used in the network’s CeFi and DeFi products for staking and fee discounts. Presently, a diverse set of products and services interfacing retail, institutions, CeFi and DeFi have been built. WOO X is a zero-fee trading platform providing professional and institutional traders with best-in-class liquidity and execution. It features fully customisable modules for workspace customisation.

WOO Price Analysis

At the time of writing, WOO is ranked the 127th cryptocurrency globally and the current price is US$0.4826. Let’s take a look at the chart below for price analysis:

Source: TradingView

WOO has retraced 80% from its January highs and is currently challenging possible support near $0.4540, between the 61.8% and 78.6% retracement levels. 

If this level fails to provide support, the 78.6% retracement, near $0.4301, offers a strong draw for shorts with multiple daily swing lows and an inefficient area. 

Continued bearish conditions may cause this level to break, running all swing lows since Q2 2021 into the upper portion of an inefficient region starting near $0.3700. Near the midpoint and bottom of this region, lower timeframes show that $0.3520 and $0.3240 could also provide some sensitivity.

The low of early December’s consolidation, near $0.5817, and the 9 EMA may provide some resistance on any retracements. A continued rally – unlikely unless the overall market’s catalysts drastically shift – could reach over the 2021 open to $0.6427 and possibly $0.7100, where the daily chart shows a head-and-shoulders formation.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

Categories
ChainLink Crypto News Market Analysis MyNeighborAlice Reserve Rights Trading

Top 3 Coins to Watch Today: ALICE, LINK, RSR – April 1 Trading Analysis

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

1. MyNeighborAlice (ALICE)

ALICE is a multiplayer builder game where anyone can buy and own virtual islands, collect and build exciting items, and meet new friends. Inspired by successful games such as Animal Crossing, the game combines the best of the two worlds – a fun narrative for regular players who want to enjoy the gameplay experience, as well as an ecosystem for players who want to collect and trade non-fungible tokens (NFTs).

ALICE Price Analysis

At the time of writing, ALICE  is ranked the 258th cryptocurrency globally and the current price is US$7.59. Let’s take a look at the chart below for price analysis:

Source: TradingView

After accumulating under the November monthly open, ALICE rallied 90% in a week before retracing to support near $6.55. Buyers continue to snatch up dips under the weekly open, suggesting that accumulation is still taking place. 

Bulls could look for entries in this region while being conscious of a potential stop run below the cluster of lows at $7.37. Two areas of support, beginning near $7.26 and $7.00, provide probable buys if the price dips this low.

The equal highs near $8.63 provide a first reasonable bullish target. If the price takes this target and penetrates the surrounding resistance, the next probable resistance begins near $9.30. Possible targets include the old highs just above this resistance near $10.43, $10.86, and $11.59.

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

At the time of writing, LINK is ranked the 24th cryptocurrency globally and the current price is US$16.85. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s early January spike retraced near $13.08 into the consolidation that began the impulse before bouncing to $17.30. 

This consolidation could provide support again, although bears would first have to push the price through possible support near $14.00. The market’s structure may be shifting bearish, with $13.62 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $12.63 before finding support near $11.71.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near $18.78 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the December wick near $21.58.

3. Reserve Rights (RSR)

Reserve Rights RSR is a dual-token stablecoin platform that was launched in May 2019 following a successful initial exchange offering (IEO) on the Huobi Prime platform. Reserve Rights’ dual token setup includes a stablecoin known as the Reserve stablecoin (RSV), which is backed by a basket of assets managed by smart contracts. The second token is the Reserve Rights token (RSR), which is used to keep the RSV stable at its $1.00 price target through a system of arbitrage opportunities.

RSR Price Analysis

At the time of writing, RSR is ranked the 190th cryptocurrency globally and the current price is US$0.01802. Let’s take a look at the chart below for price analysis:

Source: TradingView

RSR has retraced approximately 52% as the price hovers over possible support beginning near $0.01608.

The significant number of lows in this area will likely see a stop run before any potential move higher. The gap at $0.01570 could provide support for a shallow stop run. 

However, lows near $0.01489 also provide a tempting downside target if bitcoin begins a bearish trend. Under these lows, bulls might find support near $0.01412 – or as low as $0.01365 if the market sees a sustained bearish move.

The confluence of levels near $0.01934 that surround the monthly open may provide some resistance, particularly if reached before a run of the highs near $0.02065. 

If the bullish trend resumes, $0.02269 may provide some resistance before running the swing highs at $0.02319 and $0.02410.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

Categories
ChainLink Crypto News dYdX ICP Market Analysis Trading

Top 3 Coins to Watch Today: LINK, DYDX, ICP – February 25 Trading Analysis

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

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors, and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

At the time of writing, LINK is ranked the 24th cryptocurrency globally and the current price is US$12.50. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s early January spike retraced near $12.46 into the consolidation that began the impulse before bouncing to $14.30. 

This consolidation could provide support again, although bears would first have to push the price through possible support near $12.00. The market’s structure may be shifting bearish, with $13.52 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $11.63 before finding support near $10.71.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near $16.78 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the December wick near $20.58.

2. Dydx (DYDX)

DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol. By enabling shared control of the protocol, DYDX allows traders, liquidity providers and partners of dYdX to work collectively towards an enhanced protocol. DYDX enables a robust ecosystem around governance, rewards and staking, each designed to drive future growth and decentralisation of dYdX, resulting in a better experience for users.

DYDX Price Analysis

At the time of writing, DYDX is ranked the 140th cryptocurrency globally and the current price is US$4.83. Let’s take a look at the chart below for price analysis:

Source: TradingView

DYDX consolidates between $4.60 and $5.90 with the bulk of the volume concentrated in the lower half of the range. The price does not indicate a clear longer-term direction yet as stop orders build on both sides of the range.

Range traders will likely take profits or sell near $5.32. A stop run and swift rejection above $5.74 could provide a more favourable risk-to-reward entry for bears. An old 4h gap around $6.35 might cap this stop run.

Bulls will likely accumulate more long positions on a run below the relatively equal lows near $4.70. Little exists below the current range to identify precise support levels. However, the area between $4.58 and $4.50 could also give support during a deeper stop run.

If the price does break out decisively to the upside, the swing high at $6.15 provides a reasonable target. The highs and daily resistance levels between $6.47 and $6.80 may provide a second target.

3. Internet Computer (ICP)

The Internet Computer ICP is the world’s first blockchain that runs at web speed with unbounded capacity. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum – a blockchain computer that scales smart contract computation and data, runs them at web speed, processes and stores data efficiently, and provides powerful software frameworks to developers. By making this possible, the Internet Computer enables the complete reimagination of software, providing a revolutionary new way to build tokenised internet services, pan-industry platforms, decentralised financial systems, and even traditional enterprise systems and websites.

ICP Price Analysis

At the time of writing, ICP is ranked the 36th cryptocurrency globally and the current price is US$15.64. Let’s take a look at the chart below for price analysis:

Source: TradingView

During January, ICP also turned the corner, breaking a key swing high. This move could suggest a longer-term bullish trend.

The swing high near $26.24 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near $31.35.

Even if the bearish trend continues, a stop run at the recent swing low near $15.00 into possible support beginning near $14.67 is reasonable. If the price reaches further down, the swing low and possible support near $13.97 might provide another downside target. 

The area near $13.25 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near $12.80 into possible support beginning around $12.00.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

Categories
ChainLink Crypto News Market Analysis Trading

Top 3 Coins to Watch Today: LINK, GALA, AXS – February 2 Trading Analysis

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

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors, and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

At the time of writing, LINK is ranked the 20th cryptocurrency globally and the current price is US$17.25. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s late-December spike retraced near $15.46 into the consolidation that began the impulse before bouncing to $17.47. 

This consolidation could provide support again, although bears would first have to push the price through possible support near $15.18. The market’s structure may be shifting bearish, with $18.52 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near $14.63 before finding support near $13.71.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near $23.09 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the December wick near $26.58.

2. Gala (GALA)

GALA aims to take the gaming industry in a different direction by giving players back control over their games. Gala Games’ mission is to make “blockchain games you’ll actually want to play”. The project wants to change the fact that players can spend hundreds of dollars on in-game assets, and countless hours playing the game, all of which could be taken away from them with the click of a button. It plans to reintroduce creative thinking into games by giving players control of the games and in-game assets with the help of blockchain technology.

GALA Price Analysis

At the time of writing, GALA is ranked the 64th cryptocurrency globally and the current price is US$0.204. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low in late October, GALA kicked off a bullish trend that rallied by 450% by mid-November to break the new all-time highs.

The following 75% plummet found support near $0.1866, sweeping under the 40 EMA into the 61.8% retracement level before bouncing to resistance beginning at $0.2230.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $0.2512, where aggressive bulls might begin bidding. The level near $0.2740, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $0.3085. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $0.1731 could provide at least a short-term bounce. If this level fails, the old highs near $0.1650 might also give support and see the start of a new bullish cycle after retesting these support levels.

3. 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 will give holders a say in how funds in the Axie Community Treasury are spent.

AXS Price Analysis

At the time of writing, AXS is ranked the 39th cryptocurrency globally and the current price is US$53.74. Let’s take a look at the chart below for price analysis:

Source: TradingView

AXS‘s relatively small 35% range could suggest that a larger move is setting up in February.

Aggressive bulls could look for entries at the most recent area of support formed near $46.22. However, equal lows near $43.12 make a tempting target for a stop run into this support. This move could reach support near $41.67. 

A decisive move to the downside could run stops below the second set of relatively equal lows near $39.23, possibly reaching support at an old swing high and a daily gap near $37.58.

A recent level near $57.84 provided resistance and caused a recent swing high to form near $64.88, offering first targets. A move through this high may arrive at new monthly high levels near $69.31 and $74.30.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

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.

Categories
ChainLink Crypto News Data Market Analysis Trading

Top 3 Coins to Watch Today: LINK, ICP, DATA – November 8 Trading Analysis

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

1. Chainlink (LINK)

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

LINK Price Analysis

At the time of writing, LINK is ranked the 15th cryptocurrency globally and the current price is A$43.79. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s massive late-July spike retraced near A$28.46 into the consolidation that began the impulse before bouncing to A$32.77. 

This consolidation could provide support again, although bears would first have to push the price through possible support near A$38.65. The market’s structure may be shifting bearish, with A$35.12 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near A$30.44 before finding support near A$29.91.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near A$49.09 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the August wick near A$53.58.

2. Internet Computer (ICP)

The Internet Computer ICP is the world’s first blockchain that runs at web speed with unbounded capacity. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum – a blockchain computer that scales smart contract computation and data runs them at web speed, processes and stores data efficiently, and provides powerful software frameworks to developers. By making this possible, the Internet Computer enables the complete reimagination of software, providing a revolutionary new way to build tokenised internet services, pan-industry platforms, decentralised financial systems, and even traditional enterprise systems and websites.

ICP Price Analysis

At the time of writing, ICP is ranked the 24th cryptocurrency globally and the current price is A$68.41. Let’s take a look at the chart below for price analysis:

Source: TradingView

In mid-August, ICP also turned the corner, breaking a key swing high in early September. This move could suggest a longer-term bullish trend.

The swing high near A$78.24 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near A$85.35.

Even if the bullish trend continues, a stop run at the recent swing low near A$57.30 into possible support beginning near A$53.87 is reasonable. If the price reaches further down, the swing low and possible support near A$49.27 might provide another downside target. 

The area near A$47.75 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near A$43.18 into possible support beginning around A$41.73.

3. Streamr (DATA)

Streamr DATA is an open-source project and decentralised platform that relies on cryptography instead of trust. It is a P2P, real-time data infrastructure that houses a platform and tools for a new data economy. The technology stack includes a scalable real-time messaging network (pub/sub) hosted on computers worldwide, a marketplace for trading/selling data, and a set of tools for working with real-time data.

DATA Price Analysis

At the time of writing, DATA is ranked the 440th cryptocurrency globally and the current price is A$0.1979. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since August’s high, DATA‘s 57% drop marks the current range as a reasonable area to expect accumulation.

The recent bearish flip of the 9, 18 and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near A$0.1722 and A$0.1670 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce. 

Long-term consolidation suggests that the areas near A$0.2264 and A$0.2560 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near A$0.1815, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near A$0.1720, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near A$0.2190 might provide a ceiling for this impulse.

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.

Categories
Cardano ChainLink Crypto News Market Analysis Stellar Trading

Top 3 Coins To Watch Today: ADA, LINK, XLM – October 20 Trading Analysis

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

1. Cardano (ADA)

Cardano ADA is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals”, helping to create a society that is more secure, transparent, and fair. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.

ADA Price Analysis

At the time of writing, ADA is ranked the 4th cryptocurrency globally and the current price is A$2.84. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s nearly 56% drop from its August highs found a low near A$2.45 in September before closing over a short-term high around A$2.94 last week.

This daily close over the high could signal a shift in market structure that might reach probable resistance near A$3.12. A sustained bullish move may target the swing high at A$3.21. If this stop run occurs, a run beyond the high into probable resistance near A$3.28 and A$3.34 is possible.

Bulls could buy a retracement to possible support near A$2.75, just above the monthly open. A bearish turn in the marketplace may propel the price toward possible support near A$2.70. 

However, relatively equal lows near A$2.67 and A$2.64 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between A$2.60 and A$2.55.

2. Chainlink (LINK)

The Chainlink Network LINK is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors, and more. The company focuses on ensuring that decentralised participation is guaranteed for all node operators and users looking to contribute to the network. Chainlink allows blockchains to securely interact with external data feeds, events, and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

LINK Price Analysis

At the time of writing, LINK is ranked the 17th cryptocurrency globally and the current price is A$34.10. Let’s take a look at the chart below for price analysis:

Source: TradingView

LINK‘s massive late-July spike retraced near A$25.46 into the consolidation that began the impulse before bouncing to A$26.77. 

This consolidation could provide support again, although bears would first have to push the price through possible support near A$32.65. The market’s structure may be shifting bearish, with A$30.12 likely to provide some resistance if this is the case. A sustained bearish move could reach the swing low near A$28.44 before finding support near A$26.91.

However, the bullish higher-timeframe trend might prevail, with relatively equal highs near A$38.09 potentially giving an attractive target to lure the price over the monthly open. If so, the price could reach for the midpoint of the August wick near A$44.58.

3. Stellar (XLM)

Stellar XLM is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked – but soon after, its priorities shifted to helping financial firms connect with one another through blockchain technology. The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers who often charge high fees for a similar service.

XLM Price Analysis

At the time of writing, XLM is ranked the 22nd cryptocurrency globally and the current price is A$0.4944. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM set a high near A$0.8697 in May before retracing nearly 83% to find a low near A$0.3244. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near A$0.5378 is slowing the bullish advance down. However, another leg might target the last swing high at A$0.5682 and relatively equal highs at A$0.6034. Resistance near A$0.6359 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$0.6649.

A retracement before a move higher might find support in the daily gap near A$0.4723, just above the monthly open. Relatively equal lows near A$0.4475 could also provide support. A run on stops at A$0.4216 and A$0.4055 might find support in the gap beginning near A$0.3826 or a high-timeframe level near A$0.3582.

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.