Category: COTI

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COTI Crypto News DeFiChain Market Analysis Perpetual Protocol Trading

Top 3 Coins to Watch Today: COTI, DFI, PERP – July 26 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. Coti (COTI)

COTI markets itself as the first enterprise-grade fintech platform that empowers organisations to build their own payment solutions, as well as digitise any currency to save time as well as money. COTI is one of the world’s first blockchain protocols optimised for decentralised payments and designed for use by merchants, governments, payment DApps, and stablecoin issuers. The ecosystem has a DAG-based blockchain, proof-of-trust consensus algorithm, multiDAG, GTS (Global Trust System), a universal payment solution, and a payment gateway.

COTI Price Analysis

At the time of writing, COTI is ranked the 185th cryptocurrency globally and the current price is US$0.1003. Let’s take a look at the chart below for price analysis:

Source: TradingView

COTI has been ranging since its swift collapse in early May. Bulls and bears are battling between adjacent support and resistance surrounding $0.1036. This proximity may cause more consolidation until a strong move shows the next direction.

The area of resistance showed inefficient trading on the weekly chart. Price has rebalanced this area, so bears are free to take the price lower. Meanwhile, the upper part of accumulation on the weekly and the 9, 18 and 40 EMAs form support below.

A break lower might reach for inefficient trading on the daily chart near $0.0941. This level saw accumulation before mid-July’s run on bulls’ stops. It’s also under the July monthly open and the high of previous inefficient trading on the weekly chart.

If the price breaks higher, an area near $0.1315 could provide the next significant resistance. A move to this level would rebalance early June’s fast drop. It’s also near the June monthly open.

Bulls’ stops under relative equal lows, near $0.07689, might be the next bearish target if the downtrend resumes. This level still shows inefficient trading on the monthly and weekly charts.

2. DeFiChain (DFI)

DeFiChain DFI is a blockchain platform built with the mission of maximising the full potential of DeFi within the Bitcoin (BTC) ecosystem. The software platform is supported by a distributed network of computers and is designed to facilitate fast and transparent transactions. The development team positions DeFiChain as an innovative blockchain project and offers solutions to problems like scalability, security, and decentralisation.

DFI Price Analysis

At the time of writing, DFI is ranked the 214th cryptocurrency globally and the current price is US$1.10. Let’s take a look at the chart below for price analysis:

Source: TradingView

DFI collapsed 84% from its April high before beginning an uptrend in early July.

Bulls broke the market structure to the upside on July 7. This break resulted in a 73% climb ending with a large spike on July 22. Inside this spike, $1.2568 could provide the first resistance. It overlaps with a small area of inefficient trading in mid-June and is near the 40 EMA.

A move higher might retest July 22’s high, near $1.3922. This area shows inefficient trading on the daily and weekly charts. It’s also near the top of inefficient trading on the monthly chart. 

If the rally continues, bulls should find support near $1.0852. A narrow pocket under this level, from $1.0690 to $1.050, could provide more sensitivity. This pocket shows inefficient trading on the daily and overlaps with old highs. It’s also near the 9 and 18 EMAs.

If the downtrend resumes, a wide area from $0.7233 to $0.4132 might spawn the following bullish setup. This zone shows inefficient trading on the monthly chart.

Near its midpoint, around $0.5387, is the bottom of inefficient trading on the weekly chart. This level could provide sensitivity and be a target for bears.

3. Perpetual Protocol (PERP)

Perpetual Protocol PERP is a decentralised exchange (DEX) for futures on Ethereum and xDai. Traders can go long or short with up to 10X leverage on a growing number of assets such as BTC, ETH, DOT, and others. Trading is non-custodial, meaning traders always retain possession of their assets and on-chain. Perpetual Protocol utilises a virtual automated market maker (vAMM), which provides on-chain liquidity with predictable pricing set by constant product curves. Furthermore, Perpetual Protocol designed its vAMMs to be market-neutral and fully collateralised.

PERP Price Analysis

At the time of writing, PERP is ranked the 319th cryptocurrency globally and the current price is US$0.7525. Let’s take a look at the chart below for price analysis:

Source: TradingView

PERP has been in a downtrend for almost a year. In June, it set its all-time low.

Currently, the price is consolidating. The weekly accumulation high near $0.750 should support the price if bulls are buying. This retest would allow more buying as the price runs other bulls’ trailed stops under $0.757.

Yet, the closest resistance is nearby, at $0.783. This level is near the 9 and 18 EMAs, and also showed inefficient trading on the daily chart. This old inefficient trading may cause it to begin offering resistance. 

If the closest support breaks, higher timeframes suggest that $0.628 might be the next support. This level is under the July open near the origin of the rally. Bulls rejected bears here in mid-June.

A drop to this level should make bulls cautious. It could mean that swing lows near $0.586 and $0.502 are the bearish targets.

If bulls do find support, they may be targeting a wide area from $1.026 to $1.170. This range shows inefficient trading on the weekly chart that the price may need to fill. It would also sweep bears’ stops over early July’s swing high into an old distribution area.

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.

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Cardano COTI Crypto News iExec RLC Market Analysis Trading

Top 3 Coins to Watch Today: ADA, COTI, RLC – April 27 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 whose stated 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 9th cryptocurrency globally and the current price is US$0.8328. Let’s take a look at the chart below for price analysis:

Source: TradingView

ADA‘s near 55% drop during Q1 found a low near $0.7935 during mid-March before closing over a short-term high.

This daily close over the high could signal a shift in market structure that may reach probable resistance near $0.8815. A sustained bullish move may target the swing high at $0.9622. If this stop run occurs, a run beyond the high into probable resistance near $1.10 and $1.15 is possible.

Bulls could buy a retracement to possible support near $0.8145, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.7925. 

However, relatively equal lows near $0.7757 and $0.7522 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.7347 and $0.7152.

2. Coti (COTI)

COTI markets itself as the first enterprise-grade fintech platform that empowers organisations to build their own payment solutions, as well as digitise any currency to save time as well as money. COTI is one of the world’s first blockchain protocols that is optimised for decentralised payments and designed for use by merchants, governments, payment DApps, and stablecoin issuers. The ecosystem has a DAG-based blockchain, proof-of-trust consensus algorithm, multiDAG, GTS (Global Trust System), a universal payment solution, and a payment gateway.

COTI Price Analysis

At the time of writing, COTI is ranked the 185th cryptocurrency globally and the current price is US$0.2209. Let’s take a look at the chart below for price analysis:

Source: TradingView

COTI‘s rally during H2 2021 broke down in November and has since been in a bearish trend on the daily chart. The price recently swept lows below a contested area at $0.1942, which prompted a rally during the last week into resistance at the 40 EMA near $0.3148. 

It remains to be seen whether this contested area from $0.2073 to $0.1910 can support a retest.

Unless the overall market turns bullish, a bearish continuation to possible support near $0.2155 – just under the 79.6% retracement level – seems likely. This area has sparked multiple consolidations.

A break of this level might continue to possible support near $0.1799, where the H2 2021 rally began accumulating before its run.

If the market continues its rally, breaking through resistance near the 2021 yearly open, the macro range highs near $0.3415 might provide the next resistance.

3. iExec Rlc (RLC)

iExec RLC claims to have developed the first decentralised marketplace for cloud computing resources. Blockchain technology is used to organise a market network where users can monetise their computing power, applications and datasets. By providing on-demand access to cloud computing resources, iExec is reportedly able to support compute-intensive applications in fields such as AI, big data, healthcare, rendering, or FinTech.

RLC Price Analysis

At the time of writing, RLC is ranked 147th cryptocurrency globally and the current price is US$1.81. Let’s take a look at the chart below for price analysis:

Source: TradingView

RLC printed nearly +46% gains during March. After this move, the price has been consolidating for the past week around a monthly level near $1.80.

Overlapping support zones should provide bullish strength, with the current region beginning at $1.72 providing a reasonable entry accompanied by a wide stop. Relatively equal daily lows near $1.66 could prompt a stop run that provides a better entry, maybe as low as the next overlapping support area near $1.60.

Last month’s high near $1.98 provides the highest probability target, with the next swing high inside resistance at $2.08 giving another target and potential short-term reversal area.

A strong move through this level into resistance beginning at $2.15 is likely to target the monthly high at $2.19, potentially reaching the next monthly high near $2.25.

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.

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COTI Crypto News Market Analysis Stratis Tezos Trading

Top 3 Coins to Watch Today: XTZ, STRAX, COTI – March 30 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. Tezos (XTZ)

Tezos XTZ is a blockchain network that’s based on smart contracts in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced – meaning it can evolve and improve over time without any danger of a hard fork. This is something both Bitcoin and Ethereum have suffered since they were created. People who hold XTZ can vote on proposals for protocol upgrades that have been put forward by Tezos developers.

XTZ Price Analysis

At the time of writing, XTZ is ranked the 46th cryptocurrency globally and the current price is US$3.82. Let’s take a look at the chart below for price analysis:

Source: TradingView

XTZ‘s 65% drop since late December saw a second leg after last month’s market-wide drop ran the previous consolidation’s stops.

The level near $4.10 is providing some resistance. However, continuation through the monthly high at $4.32 is not out of the question. Aggressive bulls might bid in the current region near $4.58. 

If the price runs the recent swing low, bulls might bid in the gap near $3.70. A deeper retracement could reach near the early-February level and a gap near $3.57. The region near $3.49 and $3.40 may also provide some support during a deeper retracement.

2. Stratis (STRAX)

Stratis STRAX is a blockchain-as-a-service platform that offers several products and services for enterprises, including launching private sidechains, running full nodes, developing and deploying smart contracts, an initial coin offering platform, and a proof-of-identity application. The company also provides cryptocurrency wallets and blockchain consulting services. Stratis operates its own blockchain powered by a native token, STRAX.

STRAX Price Analysis

At the time of writing, STRAX is ranked the 290th cryptocurrency globally and the current price is US$1.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since its rally in H1 2021, STRAX has been in a massive range between approximately $2.50 and $1.20. Long upper wicks during the second half of 2021 show distribution, while the daily chart shows a bearish trend since January.

The price is currently around the 79.6% retracement, near $1.30. This level has seen interest from bulls since July 2021. It might provide support again for a short-term bounce.

The closest resistance may be at $1.42, near the 9, 18 and 40 EMAs. If the price breaks this level, bulls might target the old swing high near $1.59, another old swing high and inefficiently traded area near $1.72, and the consolidation around $1.80.

However, repeated tests of a level, plus the higher-timeframe downtrend, may cause an eventual breakdown of the current support near $1.20. If this occurs, old swing lows near $1.12 – particularly an inefficient region starting near $0.9877 – may be the bearish target and the subsequent support.

3. Coti (COTI)

COTI markets itself as the first enterprise-grade fintech platform that empowers organisations to build their own payment solutions as well as digitise any currency to save time as well as money. COTI is one of the world’s first blockchain protocols that is optimised for decentralised payments and designed for use by merchants, governments, payment DApps, and stablecoin issuers. The ecosystem has a DAG-based blockchain, proof-of-trust consensus algorithm, multiDAG, GTS (Global Trust System), a universal payment solution, and a payment gateway.

COTI Price Analysis

At the time of writing, COTI is ranked the 180th cryptocurrency globally and the current price is US$0.2896. Let’s take a look at the chart below for price analysis:

Source: TradingView

COTI‘s rally during H2 2021 broke down in early November and has since been in a bearish trend on the daily chart. The price recently swept lows below a contested area at $0.1952, which prompted a rally during the last week into resistance at the 40 EMA near $0.2988. 

It remains to be seen whether this contested area from $0.2603 to $0.2252 can support a retest.

Unless the overall market turns bullish, a bearish continuation to possible support near $0.2165 – just under the 79.6% retracement level – seems likely. This area has sparked multiple consolidations.

A break of this level might continue to possible support near $0.1599, where the H2 2021 rally began accumulating before its run.

If the market continues its rally, breaking through resistance near the 2021 yearly open, the macro range highs near $0.3913 might provide the next resistance.

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.