Category: Dash

Top 3 Coins to Watch Today: DASH, CHESS, SUSHI – July 28 Trading Analysis

Post author By Malik Junaid
Post date July 28, 2022

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

1. Dash (DASH)

Dash is an open-source blockchain and cryptocurrency focused on offering a fast, cheap and decentralised global payments network. According to the project’s white paper, Dash seeks to improve on Bitcoin by providing stronger privacy and faster transactions. Dash’s governance system, or treasury, distributes 10% of the block rewards for the development of the project in a competitive and decentralised way.

DASH Price Analysis

At the time of writing, DASH is ranked the 76^th cryptocurrency globally and the current price is US$44.57. Let’s take a look at the chart below for price analysis:

Source: TradingView

During Q2, DASH retraced over 70% before finding support near $43.10. Consolidation above this level has created a series of relatively equal lows, which are likely to be swept before any longer-term bullish trend begins.

In the shorter term, the price might establish support near $40.25 before running the swing high at $49.88. If this bullish move occurs, the price could reach resistance near the weekly open around $54.12, and may even sweep the swing high near $58.22.

Some support might exist at the daily gap near $43.12. A move this low would also fill the monthly gap and set the stage for a possible bullish reversal.

2. Tranchess (CHESS)

Tranchess CHESS is a yield-enhancing asset tracker with varied risk-return solutions. Tranchess provides a different risk/return matrix out of a single main fund that tracks a specific underlying asset. The name Tranchess was inspired by the game of chess, as well as the French word “Tranche”, which is often associated with tranche funds that cater to a different class of investors with varying risk appetite. Tranchess was launched on June 24, 2021. The project leverages on smart contracts, making it transparent and automated across processes.

CHESS Price Analysis

At the time of writing, CHESS is ranked the 504^th cryptocurrency globally and the current price is US$0.3555. Let’s take a look at the chart below for price analysis:

Source: TradingView

CHESS dropped 80% from its early Q2 highs before beginning a consolidation range in June. Most trading occurred between the June monthly open and $0.3150. Here, relatively equal lows have formed under the oldest historical low, around $0.2870.

These lows might serve as a magnet for a stop run reaching near the last swing low, between $0.2562 and $0.2470. A continued move down could run more bulls’ stops below May’s low at $0.2140.

No historical price action exists under May’s low to pinpoint possible support. Round numbers suggest that $0.1935 could offer some support on an initial stop run under May’s low.

Below this level, the 50% and 100% extensions (projected from two swings in the current range) overlap near $0.1840. This confluence could offer a weak hint at another possible support. Bulls should be highly cautious given the bearish chart and market conditions.

3. SushiSwap (SUSHI)

SushiSwap SUSHI is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralised exchanges that use smart contracts to create markets for any given pair of tokens. SushiSwap aims to diversify the AMM market and also add features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI.

SUSHI Price Analysis

At the time of writing, SUSHI is ranked the 148^th cryptocurrency globally and the current price is US$1.27. Let’s take a look at the chart below for price analysis:

Source: TradingView

After retracing nearly 80% from its Q2 highs, SUSHI set a low near $0.9410 as it formed its current range.

Last week, the price swept highs near $1.48, which now also marks the previous monthly high. Relatively equal daily highs near $1.50 provide a reasonable target, although resistance beginning near $1.56 could cap the move. A break of this resistance is likely to target the swing high near $1.66 into higher-timeframe resistance beginning near $1.74.

The current area near $1.19 could provide support, although bulls may be more likely to buy around the price fractal near $1.12 if a retracement reaches this level. A break of this area could continue down to sweep the low near $1.00 into possible support beginning near $0.9012.

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Where to Buy or Trade Altcoins?

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

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Top 3 Coins to Watch Today: XLM, DASH, UNI – May 26 Trading Analysis

Post author By Malik Junaid
Post date May 26, 2022

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

1. Stellar (XLM)

Stellar XLM is an open network that allows money to be moved and stored. When it was released, the goal 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 27^th cryptocurrency globally and the current price is US$0.1340. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM set a high near $0.2457 in Q1 before retracing nearly 65% to find a low near $0.1258. The price consolidated around this level before the strong bullish impulse over the past several days.

Probable resistance near $0.1570 is slowing the bullish advance down. However, another leg might target the last swing high at $0.1624 and relatively equal highs at $0.1750. Resistance near $0.1859 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near $0.2156.

A retracement before a move higher might find support in the daily gap near $0.1210, just above the weekly open. Relatively equal lows near $0.1165 could also provide support. Run-on stops at $0.1100 and $0.1074 might find support in the gap beginning near $0.1012.

2. Dash (DASH)

Dash is an open-source blockchain and cryptocurrency focused on offering a fast, cheap global payments network that is decentralised in nature. According to the project’s white paper, Dash seeks to improve on Bitcoin by providing stronger privacy and faster transactions. Dash’s governance system, or treasury, distributes 10% of the block rewards for the development of the project in a competitive and decentralised way.

DASH Price Analysis

At the time of writing, DASH is ranked the 70^th cryptocurrency globally and the current price is US$62.03. Let’s take a look at the chart below for price analysis:

Source: TradingView

During April, DASH retraced over 40% before finding support near $53.13. Consolidation above this level has created a series of relatively equal lows, which are likely to be swept before any longer-term bullish trend begins.

In the shorter term, the price might establish support near $60.50 before running the swing high at $73.88. If this bullish move occurs, the price could reach resistance near the weekly open around $79.43, and may even sweep the swing high near $84.22.

Some support might exist at the daily gap near $55.12. A move this low would also fill the monthly gap and set the stage for a possible bullish reversal.

3. Uniswap (UNI)

Uniswap UNI is a popular decentralised trading protocol known for its role in facilitating the automated trading of decentralised finance (DeFi) tokens. Uniswap aims to keep token trading automated and completely open to anyone who holds tokens while improving the efficiency of trading versus that on traditional exchanges. Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems that plagued the first decentralised exchanges.

UNI Price Analysis

At the time of writing, UNI is ranked the 23^rd cryptocurrency globally and the current price is US$5.50. Let’s take a look at the chart below for price analysis:

Source: TradingView

UNI‘s 70% retracement from its March highs set a low near $4.87 during its consolidation that began in early May.

Relatively equal highs near $7.56 could be the current target if the price breaks through resistance beginning near $8.87. Bullish continuation might reach through the next significant swing high near $9.26 into the daily gap near $10.59.

If bullish strength continues, the zones just below the monthly open near $11.88 and $12.45 could halt any retracement.

A bearish shift in the market might seek the relatively equal lows near $5.33 into possible support near $5.00. If this down move occurs, the swing low near $4.90 and possible support near $4.32 may be the primary objective.

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Top 3 Coins to Watch Today: DASH, ENJ, ANKR – February 28 Trading Analysis

Post author By Malik Junaid
Post date February 28, 2022

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

1. Dash (DASH)

DASH Price Analysis

At the time of writing, DASH is ranked the 80^th cryptocurrency globally and the current price is US$93.13. Let’s take a look at the chart below for price analysis:

Source: TradingView

During January, DASH retraced over 45% before finding support near $90.13 Consolidation above this level has created a series of relatively equal lows, which are likely to be swept before any longer-term bullish trend begins.

In the shorter term, the price might establish support near $92.50 before running the swing high at $106.88. If this bullish move occurs, the price could reach resistance near the weekly open around $115.43, and may even sweep the swing high near $123.22

Some support might exist at the daily gap near $87.12. A move this low would also fill the monthly gap and set the stage for a possible bullish reversal.

2. Enjin Coin (ENJ)

Enjin Coin ENJ is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores. Enjin Coin is a digital store of value used to back the value of blockchain assets such as non-fungible tokens (NFTs).

ENJ Price Analysis

At the time of writing, ENJ is ranked the 67^th cryptocurrency globally and the current price is US$1.45. Let’s take a look at the chart below for price analysis:

Source: TradingView

ENJ spent February ranging across the monthly open, reaching 30% over and 23% below. The price is currently consolidating between adjacent resistance and support at $1.45 with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $1.95.

This move would likely target the swing high at $2.12 and relatively equal highs near $2.29. A sustained bullish trend could reach up to the monthly high near $2.35.

Bulls might see a sweep of the relatively equal lows near $1.42 as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $1.38 and $1.30.

3. Ankr (ANKR)

ANKR originates as a solution that utilises shared resources in order to provide easy and affordable blockchain node hosting solutions, it has since built a marketplace for container-based cloud services through the usage of shared resources. It is a platform that enables the sharing economy, where any customer can access resources at a more affordable rate, while also providing enterprises with the ability to monetise their spare computing power that is not being utilised. It is unique in the way that it is the first to use trusted hardware, and this ensures a high level of security.

ANKR Price Analysis

At the time of writing, ANKR is ranked the 107^th cryptocurrency globally and the current price is US$0.06559. Let’s take a look at the chart below for price analysis:

Source: TradingView

ANKR continues to set monthly lows in its downward trend.

Support might be found in the daily gap above the monthly open near $0.06295. A deeper retracement is likely to target the relatively equal lows into support near $0.06125.

The daily gap near $0.05966 could also provide support. However, another gap inside the down candles, around $0.05732, 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 $0.06895 and $0.07244 as reasonable take-profit zones.

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Top 3 Coins to Watch Today: CRV, XLM, DASH – January 10 Trading Analysis

Post author By Malik Junaid
Post date January 10, 2022

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

1. 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 59^th cryptocurrency globally and the current price is US$4.59. Let’s take a look at the chart below for price analysis:

Source: TradingView

Last week, bulls enjoyed 65% gains at CRV‘s peak before the price confirmed stiff resistance beginning at $6.58.

The 4-Hour chart shows that support may be forming between $3.86 and $3.75, near the monthly open. Aggressive bulls could enter in this area, although safer entries may be found much further below near $4.29 and $4.05 after a sweep of the current consolidation’s swing lows.

The last swing high near $4.80 provides a likely first target if the price does bounce from this region. Beyond this swing high, the 1.0 extension near $5.26 and the 2.0 extension near $5.72 and $5.94 may provide the next major targets.

2. Stellar (XLM)

XLM Price Analysis

At the time of writing, XLM is ranked the 29^th cryptocurrency globally and the current price is US$0.2573. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM set a high near $0.4257 in November before retracing nearly 75% to find a low near $0.2380. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near $0.3578 is slowing the bullish advance down. However, another leg might target the last swing high at $0.4022 and relatively equal highs at $0.4336. Resistance near $0.4659 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near $0.5149.

A retracement before a move higher might find support in the daily gap near $0.2323, just above the monthly open. Relatively equal lows near $0.2275 could also provide support. A run-on stops at $0.2016 and $0.1931 might find support in the gap beginning near $0.1900 or a high-timeframe level near $0.1723.

3. Dash (DASH)

DASH Price Analysis

At the time of writing, DASH is ranked the 70^th cryptocurrency globally and the current price is US$143.97. Let’s take a look at the chart below for price analysis:

Source: TradingView

During December, DASH retraced over 63% before finding support near $120. Consolidation above this level has created a series of relatively equal lows, which are likely to be swept before any longer-term bullish trend begins.

In the shorter term, the price might establish support near $138 before running the swing high at $155. If this bullish move occurs, the price could reach resistance near the November monthly open around $175, and may even sweep the swing high near $182.

Some support might exist at the daily gap near $128. A move this low would also fill the monthly gap and set the stage for a possible bullish reversal.

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Top 3 Coins To Watch Today: HOT, DENT, DASH – August 20 Trading Analysis

Post author By Malik Junaid
Post date August 20, 2021

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. Holo (HOT)

Holo HOT is a peer-to-peer distributed platform for hosting decentralised applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. The goal of Holo is to serve as a bridge between the broader internet and apps built using Holochain, offering an ecosystem and marketplace in which DApps are easily accessible, as they are hosted on the internet by Holo network participants.

HOT Price Analysis

At the time of writing, HOT is ranked the 65^th cryptocurrency globally and the current price is A$0.01431. Let’s take a look at the chart below for price analysis:

Source: TradingView

Since the beginning of April, HOT has been in a gentle downtrend. The future likely holds more stop runs and erratic volatility until the chart forms more substantial high-timeframe levels.

A retracement might uncover support near A$0.01146, which is the daily high of the last swing low. The high of the wick beginning near A$0.009244 may also provide support. However, bulls will likely remain wary of the current downtrend, making the low at A$0.008369 likely to be the next bearish target.

Just above, the daily gap beginning near A$0.01613 may provide resistance to bulls, possibly marking a future range high. A push through this level is likely to target the swing high near A$0.01799 – perhaps running to probable resistance near A$0.01955. Strength above this level might signal the start of a bullish trend, encouraging bulls to “buy the dip”.

2. Dent (DENT)

Dent is a revolutionary digital mobile operator offering eSIM cards, mobile data plans, call minutes top-ups, and a roaming-free experience. According to the company website, Dent employs blockchain technology’s powers to create a global marketplace for mobile data liberalisation. Dent has an ambitious roadmap ahead, with plans to expand its services to new markets by the end of 2021.

DENT Price Analysis

At the time of writing, DENT is ranked the 112^th cryptocurrency globally and the current price is A$0.008959. Let’s take a look at the chart below for price analysis:

Source: TradingView

April’s 250% bullish candle has since bled near 85%, with the DENT finding a low near A$0.003175 in mid-July.

Bulls are buying each drop into support near A$0.008241, with higher lows forming each time. However, the equal lows near A$0.007624 create an attractive target for a stop run. Still, bulls might buy this dip near possible support beginning at A$0.006955.

Just over the mid-August weekly open, A$0.009548 marks the beginning of a probable resistance zone. A breakthrough in this area might target the equal highs near A$0.01186 before running into possible resistance near A$0.01293.

A sustained move upward – perhaps from a market-wide bullish shift – could reach the swing high near A$0.01388 before encountering probable resistance near A$0.01499.

3. Dash (DASH)

DASH Price Analysis

At the time of writing, DASH is ranked the 57^th cryptocurrency globally and the current price is A$290.19. Let’s take a look at the chart below for price analysis:

Source: TradingView

During May, DASH dumped over 83% before finding support near A$168. Consolidation above this level has created a series of relatively equal lows, which are likely to be swept before any longer-term bullish trend begins.

In the shorter term, the price might establish support near A$259 before running the swing high at A$315. If this bullish move occurs, the price could reach resistance near the August monthly open around A$245, and may even sweep the swing high near A$238.

Some support might exist at the daily gap near A$230. A move this low would also fill the June monthly gap and set the stage for a possible bullish reversal.

Where to Buy or Trade Altcoins?

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Bittrex Will Delist Three Privacy Coins

Post author By Cristian Lipciuc
Post date January 4, 2021

The asymmetrical push-back against privacy coins has been going on for a while now.

Although many crypto enthusiasts happily use them for legitimate reasons, the risk assessment measures, Know Your Customer (KYC), and Anti-Money Laundering (AML) procedures that must be put in place in order to allow trading them have pushed many smaller exchanges to delist them.

Pressure By Traditional Banks

On the 15th of January, trading Monero (XMR), Zcash (ZEC), and Dash (DASH) will be disabled for trading on Bittrex.

An official statement made last Tuesday notified Bittrex users that trading in these privacy coins will end on their website on the 15th of January — however, the tokens in users’ wallets will be kept around for 30 more days in order to allow users to withdraw their coins.

“After the markets are removed, Bittrex generally seeks to provide users up to 30 days to withdraw any delisted tokens, but in certain instances the withdrawal period may be shortened. Users should withdraw any tokens before the posted withdrawal deadline.”

As Bittrex is a company with a strong focus on the American market, it’s possible that the sudden announcement comes in the wake of the US Congress potentially looking into measures aimed at privacy coins, coupled with pressure from traditional banking institutions.

The announcement caused the going rate of the tokens to drop abruptly — namely by 14.44% for XMR, and by 12.28% for ZEC at the time this article was written.

In response, Dash has stated that they consider the privacy coin label a misnomer and that they would be happy to meet with the Bittrex Compliance team in an effort to avoid being delisted.

From a technical standpoint, Dash’s privacy functionality is no greater than Bitcoin’s, making the label of “privacy coin” a misnomer for Dash. We have reached out to @BittrexExchange to request a meeting with their compliance team. Hopefully this will be rectified soon. https://t.co/QA66OoshPn
— Dash (@Dashpay) January 1, 2021

Although the risk of keeping privacy coin trading up and running may prove to be too high for smaller exchanges, the tentative meeting between Dash and Bittrex might be a watershed moment in establishing the regulatory status of privacy coins going forward.