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. Crabada (CRA)
Crabada CRA is a crab-themed play-to-earn NFT game on Avalanche, where players assemble a team of three crabada to earn the in-game currency Treasure Under Sea (TUS). Being an idle game, players deploy their Mining Party consisting of three crabada to mine treasure. Each mining expedition takes four hours and returns 3.75 CRA and 303.75 TUS. Players can also engage in looting missions to try to take over another player’s mining party. Moreover, idle crabada can be lent to other players and deployed as mercenaries.
CRA Price Analysis
At the time of writing, CRA is ranked the 564th cryptocurrency globally and the current price is US$0.488. Let’s take a look at the chart below for price analysis:
CRA has declined nearly 69% since its March high and is 8.6% from its all-time low. So far, there are no signs of reversal.
Traders may still want to monitor the coin for signs of a short-term bounce or reversal as it reaches or declines below its all-time low. Starting Monday, the next month contains a series of launches that could trigger investor interest. These catalysts combined with this low – the last reference point in historical price action for possible support – make it an area of interest.
The closest resistance begins near $0.4799, where the price briefly consolidated before Monday’s move downward. Just above, near $0.5367, the 9 EMA and an inefficiently traded area may also provide resistance.
A more sustained bounce could reach the low end of an inefficiently traded area near the 18 EMA at $0.6643. If this resistance breaks, the price might retest the previous range’s low and inefficiently traded area near the 2022 yearly open, from $0.7123 to $0.7622.
2. Eos (EOS)
EOS is a platform designed to allow developers to build decentralised apps. The project’s goal is relatively simple: to make it as straightforward as possible for programmers to embrace blockchain technology and ensure the network is easier to use than rivals. As a result, tools and a range of educational resources are provided to support developers who want to build functional apps quickly. EOS also aims to improve the experience for users and businesses. While the project tries to deliver greater security and less friction for consumers, it also vies to unlock flexibility and compliance for enterprises.
EOS Price Analysis
At the time of writing, EOS is ranked the 47th cryptocurrency globally and the current price is US$2.38. Let’s take a look at the chart below for price analysis:
EOS has been ranging since early 2022. Last week, the price bounced from an inefficiently traded area near $2.146 before testing the consolidation range low near $2.644. Both of these regions could provide support or resistance again.
Today, the price is testing possible support near $2.347. Bulls have rejected bears multiple times on higher timeframes in this region. The price is in the middle of its range with no apparent signs of its next direction, while market conditions remain bearish.
However, any rejection from possible resistance near $2.418 would suggest that the price is preparing to consolidate for longer or run Q1 2022’s lows into possible support near $1.766. This region saw strong buying in late 2018 and early 2020.
If the two closer resistances break, bulls might eye $3.274 to $3.660 as the next significant resistance. This large, inefficiently traded area on the monthly, above March’s high, provides an appealing target for bulls aiming for bears’ stops.
3. Synapse Network (SNP)
The Synapse Network SNP is a fully functional solution aimed at bridging the gap between investors and brilliant projects. Harnessing the full power of decentralised assets and cross-chain technology, the Synapse ecosystem will let everyone enter the previously extremely elitist world of fundraising, granting the chance to get involved in promising startups since their earliest phases and with minimum capital. Alongside the value of this connection, the network also offers its full backing, providing funds, connecting with VCs and aiding users with its extensive network of tech partners.
SNP Price Analysis
At the time of writing, SNP is ranked the 5567th cryptocurrency globally and the current price is US$0.07587. Let’s take a look at the chart below for price analysis:
SNP has declined nearly 91% since December 2021, with no sign of a bullish reversal. The consolidation last Thursday and Friday might provide resistance to push the price down for another leg of selling.
A rally slightly higher is likely to meet resistance at a more extensive consolidation’s low between $0.08035 and $0.09107. An inefficiently traded area between $0.08241 and $0.08500 could provide the most sensitivity inside this zone.
A gap and old low near $0.1211 could be the target for a more significant rally. At these levels, there is no historical price action to hint at possible support. Extensions from the early February and early April rallies converge near $0.0644 and $0.0480. These zones could support at least short-term bounces.
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Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.